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Never mind that it took a global pandemic to make it happen. The fragrance industry is finally responding to the shift to online shopping.
Store closures and their sluggish reopening contributed to a 21 per cent decline in overall US fragrance sales in the year to date, according to NPD. But the category’s share of online sales has doubled this year, jumping from 19 per cent in 2019 to 33 per cent year-to-date.
— Read more in Fragrance: The shift to digital at Vogue Business.
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But the news from the industry’s flavor and fragrance corner is different. At two leading players—Givaudan and Symrise—both sales and earnings were up, and sales fell only modestly at International Flavors & Fragrances. It turns out that demand for the consumer products their ingredients go into has held up during the pandemic—and in many cases has even grown.
— Don't forget this does not necessarily relate to perfume sales; these companies fragrance and flavor just about anything with a smell or a taste, including all those bleach wipes and hand sanitizers. Read more in Flavor and fragrance firms dodge pandemic sales blow at Chemical & Engineering News.
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The company’s Europe-based operations registered net sales of $39.4 million in the second quarter, which declined 68.6% year over year. In U.S.-based operations, net sales slumped 75.2% to $10.1 million during the quarter.
— Read more in Corornavirus-Led [sic] Store Closures Hurt Inter Parfums' Q2 Sales at Nasdaq.
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The luxury industry will feel the fallout from the coronavirus crisis for the next two years if not longer, Chanel's chief financial officer said on Thursday, warning the French fashion label's 2020 revenues and profit would be significantly hit.
[...] It did not give details of the slide in sales so far this year but the next 12 to 18 months would be particularly tough, finance chief Philippe Blondiaux told Reuters, adding that a strong recovery in countries where the group's shops have reopened could not make up for the lack of international travel.
— Read more in Chanel warns virus impact will linger on luxury sector at Yahoo Finance.
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NPD data shows that fragrance sales declined in the first quarter by 13%, compared to the first quarter of 2019. At the same time, the drive for self-care products has boosted ancillary fragrance products like candles and home diffusers. Average daily perfume sales online have increased by 77%, but this is likely due to the transfer of in-store shopping to e-commerce, as well as Mother’s Day sales.
— Read more in Fragrance brands accelerate digital to address shifts in customer behavior at Glossy.