For instance, men’s fragrance sales grew by 10 percent - representative of a nearly USD 8.0 million gain - during the two weeks leading up to Father’s Day in 2018 .
“The men’s fragrance business continues to enjoy steady growth and not only during times of gift-giving,” stated Larissa Jensen, Beauty Industry Analyst, The NPD Group. “While holidays and new product launches create excitement around men’s fragrances, the release of luxury concentrations like perfumes among several of the top-performing brands currently account for what’s driving growth in the market.”
Actually, male consumers have come to better understand the value of highly concentrated formulations, which tend to be more potent and long-lasting. Based on NPD’s Scentiments survey, 35 percent of men indicated that they prefer to wear a scent that not only can they smell, but that others can smell as well .
However, according to The NPD Group, growth sales in the men’s prestige fragrance segment are not only due to increased demand for luxury concentrations, but also due to increasing interest in artisanal brands. “These types of brands are growing not only in popularity but also in distribution, giving the consumer even more options this Father’s Day than have historically been available,” Jensen added.
During June 2018, the niche artisanal category grew 13 percent, and it continues to be the fastest growing brand type within men’s fragrance, up 25 percent year-to-date.