American consumers shy away from fragrance during recession
The recession has had a negative impact on fragrance sales in North America, as consumers, particularly in the US, sacrifice scent before other areas of their personal care regime according to a new study by Datamonitor.
The recession has had a negative impact on fragrance sales in North America, as consumers, particularly in the US, sacrifice scent before other areas of their personal care regime according to a new study by Datamonitor.
The report, The Future of Fragrances, states that the North American fragrance market is bucking the overall growth trend experienced by other fragrance markets around the world. It found that American consumers have spent less on fragrances, leading to a decline in sales between 2003 and 2008. Moreover only 56% of consumers polled said smelling good was important or very important, compared to the 70% who stated that looking their best was important or very important.
Datamonitor said it believes that despite regional declines, the overall global fragrance market will continue to grow over the next ten years.