Favored by consumers, the price of luxury perfume in the United States increased by 15% in 2021

NPD said U.S. luxury fragrance prices grew 15% in 2021 as American consumers indulged in luxury brands with higher concentrations and higher prices .

In 2021, the fragrance category was the star of the US prestige beauty industry , with revenue growth outpacing all other beauty categories and, for the first time, fragrance sales prices reaching parity with skincare.

According to U.S. retail sales data from the NPD Group, the average retail price of fragrances in 2021 increased by 15% compared to 2020, compared to an average increase of 5% in the previous two years. In 2021, both men's and women's fragrances increased by an average of nearly $10 per product.

The increase in perfume prices is mainly due to a shift to EDP and essences, which have a higher percentage of fragrance oils and last longer once applied. This has led to less optimistic sales of cologne , EDT and other fragrance products with lower concentrations of fragrance oils .

In addition, high-end luxury brands and private designer series perfumes have also reached higher prices, and their market share has also gained a large increase in 2021. Data shows that the unit sales of fragrance juices priced over $175 have more than doubled this year .

Larissa Jensen, beauty industry consultant at NPD , said that by purchasing perfume, consumers can experience consumer happiness through the path of luxury consumption , and it can greatly enhance the consumer's personal charm both internally and externally.

The survey shows that consumers are willing to spend more money to buy more high-end perfumes. Based on the current attitude of consumers towards this category of products, it can be seen that their demand for this category of products is increasing.

In recent years, due to the shift in demand among American consumers, its share of the beauty care market has also been growing. According to a report by Research And Markets, the global care market is expected to be US$1.137 billion in 2021 and is expected to reach US$1.493 billion by 2026, with a compound annual growth rate of 5.6%.

USA

Perfume Market

Price increase