The perfume business is going from strength to strength. Worldwide demand is expected to grow annually by at least 5% per year over the next decade as the booming economies of China and India create a higher number of affluent people worldwide.
Euromonitor research says that overall the fragrance market grew by a strong 4.95%. The best performing segment was women’s premium fragrances. According to their research there is plenty of room for growth in Europe as currently only about 50% of the adult population buy or use fragrances.
Less then 20% of all men use a fragrance daily. They tend to stick to well known and advertised brands and are much less likely to experiment with new fragrances then women.
Profit margins are huge in the fragrance business as the cost of producing your average bottle of perfume is under one dollar with the finer fragrances costing five dollar. The retail price varies widely from cheap fragrances retailing at around $20 to over $150 for the some of the dearest.
Because costs of production are low, the retail price does not necessarily signify better smells. In fact it is better to buy a fragrance without knowing the...
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