Luxury Perfumes Market, By Distribution Channel, End Users, Pricing, and Capacity
The demand for luxury perfumes is anticipated to witness a steady demand during the forecast period on account of rising brand presence in emerging economies. Increasing purchasing power of consumers, strengthening economic condition of the emerging economies and increasing penchant towards luxurious products are some of the key factors driving growth of the luxury perfumes market.
Furthermore, increasing inclination of population towards online mode of purchasing is another factor boosting growth of the luxury perfumes market. Consumers are easily attracted towards online shopping due to the convenience it offers in the form of easy delivery, continuous offers and discounts, promotional activities, and various others. Furthermore, emergence of several e-commerce companies over the past few years have increased the competition among market players due to which they are focused on several promotional and marketing activities, price competency, which in turn is acting as a boon to the consumers.
Request Sample copy of [email protected] https://www.coherentmarketinsights.com/insight/request-sample/1290
According to Coherent Market Insights, strengthening economic condition of developing countries has resulted in an increasing consumer base for premium products, which has paved the way for the entry of luxury products, including luxury perfumes in several emerging economies which includes India, China, Brazil and Russia among others.
However, high price of luxury perfumes and wide availability of mass perfumes are some of the key factors restraining growth of the luxury perfumes market. According to Coherent Market Insights, the global perfume industry recorded revenue of US$ 25.33 billion in 2015, out of which luxury perfumes accounted for around 40% in the same year.
The demand for luxury perfumes in the online segment is witnessing a significant growth at present and the same is expected to surge further during the forecast period. Consumer inclination towards online purchases, rapid emergence of several e-commerce companies coupled with aggressive marketing and promotional activities are some of the factors responsible for the significant growth of the online segment. Supermarkets accounted for the dominant share in 2016 and is expected to lose demand during the forecast period due to shift in consumer preference towards online purchases.
Ask for Customization of Research [email protected] https://www.coherentmarketinsights.com/insight/request-customization/1290
Key Players in the Luxury Perfumes Market
Some of the major companies operating in the luxury perfumes market include the Estee Lauder Companies Inc., Chanel Inc., Hermes Europe GmbH, Ralf Lauren Corp, Kering S.A., Gianni Versace S.p.A., Christian Dior S.A., Prada S.p.A, and Moet Hennessy Louis Vuitton S.A. (LVMH).
Mergers and acquisitions, joint ventures and partnerships, product innovation and geographical expansion are some of the key strategies adopted by leading market players in order to maintain market position. In 2017, Moet Hennessy Louis Vuitton (LVMH) brought a majority stake in Maison Francis Kurkdjian to further expand its position in the luxury perfumes market.
You may be interested
Researchers Discover New Material for High-Speed ElectronicsMohit Joshi - September 18, 2018
Researchers discovered a new material from the rare element tellurium for high-speed electronics, according to a study conducted on May 24, 2018. This study was conducted by…
Higher Levels of Well-being Associated with Diverse NeighborhoodMohit Joshi - September 17, 2018
Researchers reveal that well-being and quality of life is influenced by diversity of neighborhoods, according to a new study published in May 30, 2018. A team from…
Report Suggests Carbon Dioxide Efficiency IncreasedMohit Joshi - September 12, 2018
Researchers develops a novel two-step process to increase the efficiency of carbon dioxide (CO2) electrolysis. Electricity is easily available, more affordable and environment-friendly compared to fossil fuels…