Retail prices for fragrances rose 15% in 2021, versus 2020, after averaging a 5% increase during the two years prior, according to a report from the NPD Group. On average, both men’s and women’s fragrances added nearly $10 more per product in 2021.
Higher fragrance prices are mainly due to a shift toward the purchase of eau de parfums and parfums, which have a higher percentage of fragrance oils and last longer once applied. This was at the expense of cologne, eau de toilette and other products with lower concentrations of fragrance oils.
Premium luxury brands and private designer collections also command higher price points and experienced market share gains in 2021. Fragrance juices priced at more than $175 more than doubled in unit sales for the year.
Prestige fragrance outperformed all over beauty categories in the U.S. prestige beauty industry in 2021.The report cites that, for the first time, fragrance sales reached parity with skin care.
Larissa Jensen, beauty industry advisor at NPD, said, “By purchasing fragrances, consumers can find a pocket of luxury that brings them joy and is a welcome addition to their wellness rituals. Given their willingness to trade up to more premium fragrances, consumers are exhibiting the high value they place on this olfactive category.”