This appears to be a worldwide trend. Scent-doused Europe — which accounted for 28 per cent of the perfume market in 2023 according to Euromonitor — has managed double-digit sales growth every year since the pandemic. In the US, where perfume has less of a day-to-day tradition, penetration has doubled.
Better still, the more expensive end of the market has been outperforming cheaper perfumes. In the US, prestige fragrance grew by 12 per cent in 2023 compared to the mass market’s 4 per cent, on Circana data.
— Read more in Perfume offers a new ‘lipstick effect’ in the luxury slowdown at Financial Times.
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