Fragrances was hit hard by the outbreak of Coronavirus (COVID-19) in 2020. Few social and grooming occasions during lockdown periods and general stay-at-home tendencies for health and economic reasons militated against the need to use or buy new fragrances.
In 2020 and 2021, lockdowns, the closure of and/or limitations on non-essential stores and social distancing requirements saw players look increasingly online to reach out consumers. While international companies like Estée Lauder Vietnam Co Ltd and L'Oréal Vietnam Co Ltd had invested in running digital advertisements during the early-to-mid-review period, to boost awareness and value sales through e-commerce, owners of local brands like Miss Saigon started to build up their digital presence with attention to company/brand websites, e-commerce marketplaces and social media, including fan pages.
Coty Beauty Vietnam Co Ltd remained the leading player in fragrances in retail value sales terms in 2021, led by sales of the third-ranked brand, Davidoff, although the leading brands remained DKNY (Estée Lauder Vietnam) and Issey Miyake (Shiseido Cosmetics Vietnam). Coty’s portfolio also featured others like adidas classic, Burberry, Lacoste, Gucci and Calvin Klein.
The performance of fragrances is expected to rebound in line with the recovery of the economy from the COVID-19-informed recession. In this vein, the government has introduced various niche regulations to help the economy recover.
Over the forecast period, premium fragrances is expected to recover and see healthy retail volume and value (constant 2021 prices) growth. This performance is predicted to be underpinned by a brighter economic outlook and higher living standards.
Companies are expected to increasingly perceive online channels as highly effective ways to reach their target customers over the forecast period. This is likely to bring higher investments in digital marketing, social media platforms and e-commerce.
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Understand the latest market trends and future growth opportunities for the Fragrances industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Fragrances
This is the aggregation of men's, women's and unisex mass and premium fragrances as well as fragrances sets/kits. The distinction between mass market and premium is normally price and label/positioning (mass fragrances rarely carry a designer label) and distribution. Also includes hair fragrances with a primary function of making hair smell good and not to be confused with hair oil and other styling/conditioning products with hair fragrances, whose primary function is to either condition or style over fragrance.
See All of Our DefinitionsThis report originates from Passport, our Fragrances research and analysis database.
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