Fragrance prices are expected to be even more affected by the inflation crisis in 2023 than they were in 2022. Manufacturers are likely to pass on their increased costs to consumers through higher retail prices, a practice they only partially implemented in 2022.
Similar to 2022, consumers are expected to be price-conscious during the forecast period, seeking value and promotions from their preferred fragrance brands or opting for products that offer high quality at reasonable prices. As a result, consumers are likely to increasingly use manufacturers' and retailers' e-commerce shops and apps as both a retail e-commerce platform and a tool for comparing prices.
Innovation may be constrained while the inflation and energy crises remain dire, but manufacturers are expected to leverage new product launches to increase sales. Fragrances is likely to remain popular as it has a profound impact on consumers' mood, making them feel better.
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Understand the latest market trends and future growth opportunities for the Fragrances industry in Belgium with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fragrances industry in Belgium, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of men's, women's and unisex mass and premium fragrances as well as fragrances sets/kits. The distinction between mass market and premium is normally price and label/positioning (mass fragrances rarely carry a designer label) and distribution. Also includes hair fragrances with a primary function of making hair smell good and not to be confused with hair oil and other styling/conditioning products with hair fragrances, whose primary function is to either condition or style over fragrance.See All of Our Definitions
This report originates from Passport, our Fragrances research and analysis database.
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