Fragrances in Singapore - New Report Available

From: Fast Market Research, Inc.
Published: Sun Aug 09 2015

Fragrances witnessed a current value sales decline of 1% in 2014, a slowdown compared to the decline of 2% seen in 2013. The highly competitive retail landscape for fragrances in Singapore continued to impact its current value performance, as beauty specialist retailers offered discounts and regular promotions to attract consumers. Singapore is also renowned for parallel imports of fragrances sold at various beauty specialist retailers, which continued to be offered at high discounts compared standard channels, such as department stores. This had a further negative impact on retail value sales growth.

Competitive Landscape

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Bulgari Parfums SA remained the leading player in fragrances in Singapore in 2014, accounting for a retail value sales share of 8%. The company saw a one percentage point increase in share during the year, which served to strengthen its leadership of the category. Heavy marketing campaigns, coupled with attractive promotions, underpinned the company's performance in 2014. It also launched a super-premium fragrance in 2014, in answer to rising consumer interest in more exclusive products, in line with rising disposable income levels.

Industry Prospects

Fragrances is expected to see a sales decline at constant 2014 prices over the forecast period, with a CAGR of -2% predicted. The category will continue to be impacted by the significant discounts offered by retailers. Local beauty specialist retailers are expected to drive sales through offering attractive discounts, particularly those that can secure parallel imports at attractive prices. This trend is also likely to be seen in internet retailing, enabling consumers to easily secure discounted fragrances.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Fragrances industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Fragrances industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Fragrances in Singapore market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of Fragrances in Singapore?

About Fast Market Research

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