Price Matters To 76% Of Perfume Buyers

In the world of fragrances, deciding which perfume or deodorant to buy can be a task. A recent survey by Expert Market Research asked over 50,000 people how important price is when they choose these products. Let us delve into the results to know interesting details about consumer behavior and preferences towards the importance of price when deciding to purchase a perfume or deodorant.

The survey reveals that 28% of respondents say it's very important, and 48% say that price is important to them when picking a perfume or deodorant. For most people surveyed, price is a big part of their decision. This could be because they have a budget to stick to, want value for the money they paid, or care about the brand they buy from. Consumers may have a limited budget and want to find the best deals, like sales or discounts. Brands wanting to reach these people should focus on making products available at the best market prices and showing why their products are worth the price.

Impact Of Price In Perfume Industry 2024

About 21.33% of people feel neutral about price. They might care more about things like how good the product smells or what others say about it. Brands can appeal to these customers by balancing price with other factors, like quality and brand reputation. Only 2.67% of people don't think price matters much while buying perfume or deodorant. These consumers may care more about the brand's history, the quality of the product, or how unique it is. Luxury brands can attract these customers by offering exclusive products and top-notch experiences.

The survey findings help fragrance brands figure out how to decide on pricing strategies that will influence people to buy their products. By knowing the importance of price to different groups, brands can provide products that fit different budgets and tastes.

Cost Influence Consumer Choice For Perfumes

The fragrance market is changing. More people want to experience luxury products without spending a lot of money. For example, Zara's collaboration with Jo Malone has introduced a line of high-quality, affordable perfumes, blending luxury and affordability, attracting budget-conscious consumers who still want a premium experience. Brands are also employing pricing strategies that encourage the purchase of multiple products, making the overall purchase more affordable. For example, Bath & Body Works offers product combos that include body sprays, lotions, shower gels, and other products at a reduced price compared to purchasing each item individually.

Price matters a lot when people buy perfume or deodorant. But other things, like quality and brand reputation, are also important. By understanding what people care about, fragrance brands can make products that people will love. For Indian brands, focusing on price, quality, and making products that feel special can help attract a wide customer base. Additionally, by keeping up with the latest trends and using digital tools, brands can grow and succeed in the competitive fragrance market.