Warm and spicy. Sweet and floral. Woody and earthy.
It used to be that a spritz of fragrance was singular to the wearer, a medley of notes both distinct and familiar. Though that dynamic has long influenced sales, powerhouses such as Coty and L’Oréal are seeing a surge as consumers retreat from the notion of having a "signature scent” and treat aroma as a barometer of their moods. Fragrance is the fastest-growing category in the prestige beauty sector, with sales climbing 13 percent in the first quarter, according to market research firm Circana.
First-time buyers and men are driving much of those gains, gravitating to high-end brands such as Chanel, YSL, Dior, Le Labo, Jo Malone and Tom Ford. Meanwhile, younger shoppers, particularly tweens, are stocking up on gift sets and body sprays available at lower price points, such as Sol de Janeiro. The upswing speaks to evolving consumer habits after the pandemic, from which Americans emerged flush with savings and eager to indulge.
Beauty influencers and the "quiet luxury” aesthetic also propelled interest in prestige scents, which, even at $100 a pop or more, are relatively affordable in a retail space where clothes and accessories routinely come with four- and five-digit price tags. More than 100 million units were sold in the United States last year, Circana said. Annual sales are projected to hit $9 billion by 2026.
"This is unprecedented in industry,” said Larissa Jensen, a beauty industry analyst at Circana. "Every.
