The perfume market
The global perfume market is worth roughly $10 billion. It’s highly competitive and fast moving because it is necessary for brands to constantly evolve.
To launch a new perfume into the market can cost anywhere between $500,000 and $1 million, so mistakes are very expensive.
During 2003, in the UK alone, there were over 70 new perfumes or aftershaves launched onto the market. The majority of annual perfume sales happen during the run up to Christmas. Luxury beauty products and perfumes are often the first choice for people as gifts for birthdays, because they are an extravagant and personal, yet also an affordable gift to buy for a special occasion.
Designer perfume gift sets are very often either Eau de Toilette or Eau de Parfum and will come with matching body lotion and shower or bath gel, which allows the lucky receiver to layer their scent and thus make it last longer.
It is often the case that a woman (and even a man) may own four or five different types of scents, if not more. Statistics show that the average person will own at least two bottles of perfume or aftershave that were given as gifts.
Perfume and aftershave is now a daily experience for most people and it is the final act of getting ready for the day. Before you leave the house, adding a spray of your favourite fragrance often finishes off a person’s preparations.
Should you find that you own 10 or more aftershaves or perfumes, be aware that you may not be getting full use from all your scents and if left too long they can go off (although this may take 12 months plus).
