Between 2000 – 10 women’s fragrances saw market value rise from £478m (€549m) to £824m (€946m), charting significant growth at over 72 per cent in a decade.
In comparison, deodorants and body sprays barely grew in market value. In 2000 the figure was £466 m (€535 m), which rose to £548 m (€629 m) by 2010, a much slower growth at only 17.6 per cent in ten years.
Luxury connotations
The fragrance segment of the industry held its own seeing sales soar despite the economic downturn as well as the constant association with luxury, even in the mass market.
However women did not trade down to mass fragrances as a result of the recession, possibly considering them as a luxury indulgence and a reminder of more affluent times, according to Mintel.
Sales of premium fragrances outweighed mass by 78 per cent of total sales compared to 22 per cent.
Fragrances tend to attract brand loyalty as around 10.8m women in the UK (41 per cent) usually stick to brands they know they like.
Also, despite the occurrence of discounting in this sector, it is to a lesser extent than for purely mass-oriented product categories and is confined to holiday periods.
Therefore it is less likely to see value sales undermined by constant price discounting across the board.
Deodorants and body sprays
This category has reached nearly total penetration as it is an indispensible product for nine out of ten women, who wear it every day, according to Mintel.
However, sales of deodorants and body sprays only managed to generate small growth peaks from 2000 – 10.
Again this segment sees high levels of promotion and discounting resulting in hampered growth undermining market value.