“Perfume sales are expected to drop 14% in 2020 (as prices remain constant) under the impact of the Covid-19 pandemic. For comparison, initial estimates for the year saw a growth of 4%,” according to an analysis by market research company Euromonitor.
Romanians spend an annual RON1.5 billion on perfume, making it the biggest segment of the cosmetics market by value, as the price of perfume is much higher compared with many personal care or makeup products.
After a rapid decline in 2020, perfume sales are expected to rebound just as quickly in 2021, Euromonitor analysts said.
Euromonitor analysts say although luxury perfume sales grow faster than mass-market perfumes, purchasing power is still too low for a large portion of consumers to afford such goods.
The local perfume market is highly competitive, with Avon, Coty, Oriflame and L’Oréal at the top. The main sales channel are specialized stores such as Sephora, Douglas and Marionnaud, along independent boutique players.
The total cosmetics and personal care product market neared RON5 billion in 2019, nearly 9% higher than in 2018. Private consumption also grew 7% on the year in 2019.