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Consumers spent money on fragrance in 2021, and they were buying more expensive, versions specifically.
The NPD Group’s retail sales data in the US showed the average retail price for fragrances rose 15% in 2021 versus 2020, after averaging a 5% increase during the two years prior. Both men’s and women’s fragrances added nearly $10 more per product, on average, in 2021.
— Read more in Fine Fragrance Category Finishes on a High Note at Happi.
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Fragrance sales have boomed through the pandemic, fueled by robust demand for higher-priced eau de parfums --— perfumes with a higher percentage of fragrance oils that make the scent last longer once applied. Looking at perfumes alone (excluding home scents), sales last year surged 52% over 2020.
In the category, fragrances priced over $175 more than doubled in the number of units sold 2021, the report said.
— Read more in The surprising reason perfume prices are skyrocketing at CNN Business.
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The bestselling perfume worldwide is in fact a men’s fragrance. A bottle of Dior’s Sauvage was sold every three seconds in 2021, making it the bestselling perfume in both the male and female categories.
This is the first time a men’s fragrance has taken the worldwide first place spot. However, since its initial launch in 2015, it has seen continued success globally.
— Read more in The bestselling perfume worldwide has been revealed and it’s a surprising one at Marie Claire UK.
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COVID-19 has turned China into the land of opportunity for fragrance brands. According to data from Euromonitor, the compound annual growth rate of China’s scent market reached 14.9 percent between 2015 and 2020. But that rate is expected to jump to 22.5 percent over the next five years. By 2025, China’s perfume sales should reach $4.7 billion. Those numbers alone may sound less impressive, but comparing them to the global growth rate — about 7 percent— Chinese market potential has grown to three times the global rate.
— Read more in Who Will Fill China’s Gaping Luxury Fragrance Void? at Jing Daily.
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Buoyant perfume sales are giving retailers hope for a Christmas shopping surge in defiance of fears of an economic chill.
Economists often look to the so-called Lipstick Index in tough times with shoppers’ willingness to spend on little luxuries reflecting wider levels of confidence in good times ahead.
However, sales of perfume not make-up is the indicator giving festive cheer to stores pinning their hopes on a December rush.
— Read more in The sweet smell of optimism: Perfume sales fuel retailers’ hopes for Christmas spending at Scotland's The Sunday Post.