Men's and Women's Fragrances - China - July 2013
“During the past year, the business environment has become more difficult, with some uncertainties and challenges. While spending is increasing, consumers have become more sophisticated and demanding. There is a rising savvy shopper seeking a unique fragrance that fits with their personality. At the same time, the market is facing heightened pressure from the anti-extravagance campaign. However, given the majority of consumers are keen to improve their lifestyle, growth opportunities remain positive.”
– Wenwen Chen, Research Analyst
In this report we answer the key questions:
- How do consumers perceive Western designer brands against local fragrance brand?
- How important is fragrance in gift-giving culture?
- How has consumer purchase behaviour evolved with rising level of spending on luxury shopping?
- What segment groups have emerged based on demographics?
- How have buying channels evolved due to the growing trend of overseas shopping?
The men’s and women’s fragrance market in China reached RMB3.28 billion in value sales in 2012. This represents an increase of approximately 8.3% in 2012 and 42.3% between 2008 and 2012. Women’s fragrances still dominate the market, accounting for 86% of the total fragrance market sales value, at RMB2.6 billion in 2012. Mintel consumer research commissioned for this report shows that women are heavier users of scented products compared to men. Men’s fragrance is relatively small and its current market has an estimated worth of RMB436 million. However, the booming male grooming trend means that men’s fragrances are likely to see strong growth.
The increasing purchasing power of the Chinese consumer has contributed to the growth prospect for the fragrance market. Amid the new government’s anti-extravagance campaign and the mounting trend of shopping abroad, challenges remain in maintaining the growth. Fragrance brands could benefit from tailoring their offerings to fulfil the demand from various segments in the market. More importantly, they need to ensure the high quality of customer relationship management as well as the consistency of the service across all touch points.
Mintel projects that over the next five years, the men’s and women’s fragrance market in China will continue to grow at a CAGR of 6.8 % from 2013-18 to reach an estimated worth of RMB4.55 billion.
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