Fragrances in Taiwan

PRE-COVID-19 PERFORMANCE

Premium fragrances continue to thrive in 2019 while gender neutral trend informs the choices of women

Premium fragrances continued to take share away from mass fragrances in 2019, with the former now accounting for over three-quarters of value sales. When it comes to fragrances consumers in Taiwan are generally unwilling to compromise on quality and instead prefer products which are recognisable as premium.

Personalisation adds value both for personal use and for gift giving

Personalisation is seen as an important trend in capturing the attention of Millennials and younger consumers, with several leading players following this strategy to attract sales. For example, in 2019 leading player Jo Malone, which accounts for most sales of premium unisex fragrances, offered a customisable VIP key chain to consumers who purchased a 100ml bottle of one of its fragrances and a limited edition tote bag to consumers who spent over TWD8,000 on its products.

Travel-sized packaging and pop-up stores key trends in 2019

Looking to buy into the convenience trend some brand manufacturers focused on introducing smaller travel-sized packaging towards the end of the review period. For example, Maison Francis Kurkdjian introduced its Fragrance Wardrobe in 2019 which included a range for him and a range for her.

2020 AND BEYOND

COVID-19 impact

Sales of fragrances are now expected to decline by 1% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares to an expected 8% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.

Affected products within fragrances

Consumers in Taiwan generally wear fragrances to show off their status, but with COVID-19 limiting social interactions this taking its toll on sales of all areas of fragrances. Mass fragrances is expected to be particularly hard hit however, with consumer interest in these products already waning even before the pandemic.

Recovery and opportunities

Fragrances is expected to rebound quickly from the impact of COVID-19, with sales growth likely to stabilise as from 2021. Fragrances is still a developing area of beauty and personal care and as such still has plenty of room for growth, with more products and brands likely to enter the market over the forecast period.

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