Miami, Florida Aug 20, 2022 (Issuewire.com) - The price of perfume has recently skyrocketed to levels never seen before for luxury fragrances. But inflation is not to blame: the reasons have more to do with consumer behavior in times of stress and uncertainty.
The median retail price of fragrances increased 15% in 2021 compared to 2020, triple the median increase of 5% over the previous two years, according to the latest data from market research firm NPD.
"General inflation is not necessarily to blame here. We started to notice this surge of growth during the pandemic where consumers were willing to switch to more premium fragrances," said Javier Lazo CEO of EZENZIA.
"Our theory is that people were looking for small luxuries during these difficult times," he said. "Scents allow us to escape, even momentarily, and experience a different emotion."
American shoppers are paying more for all kinds of products, including food, furniture, clothing, shoes, and cars. Shopping for beauty and other personal care products is no exception.
Fragrance sales have soared during the pandemic, fueled by strong demand for higher-priced eau de parfums -- perfumes with a higher percentage of oils that make the scent last longer once applied. For perfume alone (excluding home fragrances), sales last year were up 52% from 2020.
In this category, fragrances priced above $175 more than doubled the number of units sold in 2021, according to the report.
An air of refinement
Ezenzia, a wholesaler and distributor of Arabic fragrances, sees this trend reflected in its sales, said Javier Lazo, CEO of the company.
Javier Lazo, who oversees the company's portfolio of prestigious fragrances, including Sultan, Ameerati, and YARA, tells us that the demand for Arabic perfumes is driven by consumers who want a unique aroma made with more refined ingredients.
"We are very optimistic that interest in Arabic fragrances will continue to grow thanks to exciting innovations, new fragrance markets embracing this sub-category, and consumers always wanting a bit of luxury in their lives," he said. Javier.
As consumers increasingly gravitate towards Arabic fragrances, he said the company is trying to encourage purchases by offering incentives such as trials through samples, giveaways, and engaging with buyers in a personalized way through inquiries. virtual. The idea is to help shoppers find their perfect fragrance before they commit to buying a full-size bottle.
"We realized that as more people were confined at home due to pandemic restrictions, they were finding ways to continue to feel good," said Javier. "They were buying Arabic fragrances for themselves and body sprays and sprays for their homes."
Arabian perfumes tend to have a higher concentration of oils and use more expensive raw materials, he explained, so as demand soars, so do production costs.
The fragrance, designed its prices are increasing every day, but EZENZIA is there to provide a much cheaper alternative to the consumer.
Media Contact
EZENZIA
3053604444
Source :EZENZIA
This article was originally published by IssueWire. Read the original article here.
