Fragrance sales fell by 15 per cent in October alone, with an overall decrease of 12 per cent when compared to the ten-month period in 2008.
— From Sales of prestige beauty products continue to fall at Cosmetics Design.
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This is something that I cannot understand. Why they continue too launch so much fragrances if they are selling less?
It’s a vicious cycle…there is so little scent loyalty now that if you don’t keep launching new scents, you don’t get your (small) slice of the pie. The only way to slow it down is if, somehow, magically, everyone agreed to slow it down. Not going to happen.
What worries me is if this conducts in the fragrance market to a crisis that stop all interesting launches. Or, even worse, leads to a mass product discontinue process
Most of the fragrances have agreements that can go back several years – licensing, creation, marketing, distribution, etc.
That’s true too, although not sure it will matter going forward…there have been an astonishing number of new license agreements this year, so does not look like companies are taking the cautious route.
I wish I were that optimistic!
I’m just glad I got out when I did – we wanted to open a shop in CT but have shelved the idea until the market changes. I’m patient. 🙂
I think many of the niche shops are doing well this year though!
They are indeed; I’m watching them carefully and hoping their success continues., 🙂
Well, overall consumption may be down, but thanks to discovering all these fantastic fragrance blogs, my purchase levels have followed an exponential rise. Not looking forward to accounting for the year-end tally….
I’ve been good so far this quarter, we’ll see if it holds!
Opera Fan, I agree: my fragrance awareness has also skyrocketed this year, largely due to the great blogs like Now Smell This.
. What I can’t quite wrap my head around is the cost of buying full bottles :-0 I wonder if I can get anyone to accept Strange Invisible Money 😀
😀
Good luck with that!
Lol. This isn’t surprising with the heaps of frags J-Lo, Paris Hilton et al. drop on the counter every year, not to mention the seasonal flankers and so on. Sales are dropping and yet prices of the niche brands continue to rise…
I don’t necessarily blame this on the market but the lack of a release of a substantially good commercialized fragrance. 2009 was disappointing for me, so I think it didn’t help the fact we’re in a recession.
I don’t think it’s just the recession either.