Prestige Fragrance Sales Grow 4 Percent Thanks to Holiday Shopping – WWD

Prestige Fragrance Sales Grow 4 Percent Thanks to Holiday Shopping – WWD

Fragrance gross sales, which have been swelling because the pandemic started, are getting an added raise from vacation buying season.

According to The NPD Group, perfume gross sales grew 4 p.c from Oct. 4 by way of Dec. 2.

The improve is due partly to climbing worth averages and fewer reductions, in addition to customers choosing higher-priced choices — a prevailing pattern this yr.

“Fragrance gross sales reached new heights following the pandemic, and it’s significantly spectacular that the market is sustaining this elevated degree quite than softening, which is usually the case after such an unprecedented efficiency,” Larissa Jensen, magnificence trade adviser at NPD, mentioned in a press release.

Brick-and-mortar perfume gross sales far outpaced the class’s efficiency within the on-line channel, comprising 70 p.c of the class’s gross sales within the 9 weeks ending Dec. 3. This was fueled each by larger in-store costs versus on-line, and customers’ return to bodily shops.

Last month, NPD reported that perfume gross sales reached $1.3 billion within the third quarter of 2022, an 11 p.c improve versus the identical interval final yr. Prestige magnificence at giant grew 15 p.c through the quarter, posting $6 billion in gross sales.

And it’s greater than probably that the rest of the yr will see much more sizable beneficial properties.

“Considering that the majority vacation purchasing for fragrances happens throughout the two weeks main up to (*4*), and December alone accounts for over 50 p.c of fourth-quarter gross sales, a lot of the perfume class’s gross sales success for 2022 is but to be decided,” mentioned Jensen.

In August, Coty Inc.’s chief government officer, Sue Nabi, spoke with WWD in regards to the “perfume impact” — a spin on Leonard A. Lauder’s lipstick index, which states that cosmetics gross sales rise throughout occasions of financial uncertainty — in mild of the corporate’s robust efficiency within the class as of late.

Said Nabi, “Fragrances converse to everybody — regardless of the age, regardless of the gender, and what we now have seen, which is the truth of the info and statistics, is that this magnificence market is lifted by perfume consumption and this isn’t feminine or male. It’s each and it’s primarily additionally Gen Z.”

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