Luxury perfume is one product which is equally popular among men and women. And this popularity is not common in any one particular region, but rather throughout the globe. Known for its power to freshen up the body and mind, industry experts expect the global market for luxury perfumes to grow exponentially in the next five years. In fact, they predict that rather than the developed world, it would be the developing economies in the APAC region which will boost the demand of this luxury commodity. The overall picture for this market looks quite sunny, especially when compared to a time when perfumes were regarded as a luxury which only few could afford to have.
How luxury perfume is entering local markets?
#1. Increased importance to personal grooming
More and more people have taken up personal grooming way seriously. Personal grooming is no longer limited to just being neat and tidy. Rather it is also about creating a positive image through right clothes and fragrance. Perfumes indirectly talk a lot about one’s personality – from creating an aura of sophistication to building a vision of your personal taste. It is in this context that vendors are now more focused on presenting their products as an extension of your personality.
#2. Growing demand from the millennial population
Well, the luxury perfumes is just one of the many products which has witnessed an immense rise in demand courtesy the millennials. Highly brand conscious, this is one population group which is not ready to compromise in terms of quality of products. The easy availability of these products on various online platform is yet another reason how the millennials can easily get perfumes from almost every part of the world.
The best part is, due to immense demand from the younger generation, vendors have now come up with customized packaging and various offers on their products. This strategy makes the products quite affordable and at the same times pushes sales as well.
#3. Best gifting option
Luxury perfume is perhaps one of the best gifts anyone would love to receive. One of the most classic and sophisticated gifts, this is one product which can be gifted on any and every occasion. Also with celebrity endorsing and availability of unisex perfumes, it has become lot more easier to gift a perfume box without worrying about the choices of the receiver. Especially on occasions like New Year and Christmas, luxury perfume is the safest gifting option.
