According to the NPD Group, fragrance sales are leading the recovery in the UK prestige beauty market. The prestige fragrance market reported sales of £1.3 billion in 2019 and post-lockdown, since the reopening of non-essential retail stores, fragrance has recovered the fastest of all prestige beauty categories.
In very challenging circumstances during Covid-19, fragrance performance has improved from -67% during lockdown (12 weeks from 22 March 2020 to 13 June 2020) compared to the same period in 2019 to -13% post-lockdown (12 Weeks from 14 June 2020 to 5 September 2020) compared to the same period in 2019.
This is promising news, as fragrance performs better than the entire high-end beauty market, helping to lead the market recovery. Post lockdown (12 Weeks from 14 June 2020 to 5 September 2020), fragrance reported a -13% decline in sales, versus the same period in 2019, compared to the whole of the prestige beauty market which is down -24%.The poor performance in prestige beauty is partly due to the ongoing challenges faced by the make-up sector.
“The popularity of fragrance can be attributed to a number of factors. Fragrance doesn’t require touch when applying or appreciating it. Retailers are also utilising unsold giftsets to encourage consumers back into store using price promotion, and as a result fragrance giftsets have reported in positive growth of +32% post-lockdown (12 Weeks from 14 June 2020 to 5 September 2020) compared to the same period in 2019. Consumers are now increasingly price conscious and opting for products that are perceived as value for money.” said Emma Fishwick, Account Manager, NPD UK Beauty.
Source: https://www.npdgroup.co.uk/wps/portal/npd/uk/news/press-releases/the-scent-of-things-to-come/
