Perfume & Fragrance Stores in the US - Industry Market Research Report

Sniff test: Rising income levels will bolster demand for high-end perfume and fragrances

The Perfume and Fragrance Stores industry has grown to some extent over the five years to 2023, though it was hindered by unfavorable economic conditions. Perfume and fragrance products are discretionary items, and as a result, they are highly sensitive to fluctuations in both disposable income and consumer confidence. Industry revenue has stalled over the past five years, thanks to diminished consumer confidence, fluctuating disposable income and increasing price competition among operators. Heightened e-commerce activity has resulted in waning mall foot traffic, putting additional downward pressure on brick-and-mortar stores like those in this industry, though ultimately contributing to industry revenue. The outbreak of COVID-19 in 2020 forced nonessential businesses to temporarily close to mitigate the spread of the virus, including perfume and fragrance stores. In 2023, revenue is expected to increase 2.0% to $8.8 billion.

Stores in this industry sell men’s and women’s fragrances, including perfumes and colognes.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.