During its most important selling period, prestige fragrances are experiencing an increase in sales for the holiday season.
In a report released by the NPD Group, sales for prestige fragrances increased 8 percent year-to-date through October. This year, fragrances have generated $2.7 billion in sales, growing at a faster rate than the previous year. The report indicates the fragrance market is the second-fastest-growing category after skin care and ahead of makeup, which is the largest category.
“After several years of soft holiday performance, fragrance made a comeback in December 2017, proving to be a giftable category for the holidays,” said Larissa Jensen, executive director and beauty industry analyst for the NPD Group. “We continued to see this turnaround during other key periods in 2018, including Valentine’s Day, Mother’s Day and Father’s Day, and anticipate its streak to continue to Christmas.”
For this year’s top-earning holidays, fragrance sales for Valentine’s Day were $92.8 million, a 12 percent year-over-year increase; sales for Mother’s Day were $122.8 million, a 9 percent year-over-year increase, and sales for Father’s Day were $94.3 million, an 11 percent year-over-year increase.