If you previously used a social network to login to WRAL.com, click the “Forgot your password” link to reset your password.
US Rep. Madison Cawthorn calls Ukrainian president 'thug,' later says both Russia, Ukraine are 'very vile'
Your comprehensive guide to the NCHSAA basketball state championships
Robeson health care leader credits WRAL reporting for changes in funding for combating opioid crisis
New federal program offers free COVID-19 pills
ZEYNEP TUFEKCI: Learning from mistakes: Here's how millions of lives might have been saved from COVID-19
Durham Public Schools continues indoor mask mandate, relaxes outdoor protocols
Timing out severe weather for Saturday, March 12, 2022
Level 3 risk of severe storms expanded for parts of central NC
Wildfire covering 1,000 acres in Dare County is 65% contained
Duke survives Syracuse scare, moves on to ACC semifinals
Play ball! MLB players reach deal, salvage 162-game season
Onlookers say goodbye as demolition begins at Cary Towne Center mall
Wawa to open stores in NC by end of 2024
Goodnights Comedy Club announces final shows on Morgan St., venue will relocate soon
Editorial: Playing politics often doesn't help a politician's future
ZEYNEP TUFEKCI: Learning from mistakes: Here's how millions of lives might have been saved from COVID-19
NINA SZLOSBERG-LANDIS: Lessons from resisting a Russian invasion ... 82 years ago
Family budgets feeling the pinch amid record-high inflation
Look closely at your budget to squeeze in higher gas, grocery, housing prices
Some choosing to work from home as gas prices soar over $4
Raleigh police chief appoints first LGBTQ+ liaison to improve community relations
2 years into pandemic, world takes cautious steps forward
Amid Mariupol horror, a newborn rests in her mother's arms
Weekend best bets: St. Patrick's Day, Seafood Jubilee and more
NC Chinese Lantern Fest to stay in Cary through 2028
Foodie news: 'Top Chef' star announces opening date for new restaurant (March 11, 2022)
Shaw university marching band featured in national commercial
Only on FOX 50 at 10: 'I felt the heat on my abdomen'. Hear the shocking story from a pregnant woman who survived a road rage attack and her message to the shooter — A road rage shooting nearly took the life of a mother and her unborn child. Tonight, only on FOX 50 at 10, she's sharing her story and a message for the shooter who’s still on the run. more
Published: 2022-03-05 09:17:00 Updated: 2022-03-06 08:26:48
Posted March 5, 2022 9:17 a.m. EST Updated March 6, 2022 8:26 a.m. EST
By Parija Kavilanz, CNN Business
CNN — The price of premium perfumes recently soared by levels typically never seen for luxury fragrances. But don't blame rising inflation — the reasons have more to do with consumer behavior in times of stress and uncertainty.
The average retail price for fragrances rose by 15% in 2021 compared to 2020, triple the average 5% increase during the prior two year, according to the latest data from market research firm NPD.
"General inflation is not necessarily the story here. We started to see this swell of growth during the pandemic where consumers were willing to trade up to more premium fragrances," said Larissa Jensen, NPD vice president and beauty industry advisor.
"We theorized that people were looking to treat themselves with little luxuries during these difficult times," she said. "Scents allow us to escape, even momentarily, and experience a different emotion."
American shoppers are paying more for all kinds of products, like food, furniture, clothes, shoes and cars. Beauty and other self-care purchases are no exception
Fragrance sales have boomed through the pandemic, fueled by robust demand for higher-priced eau de parfums --— perfumes with a higher percentage of fragrance oils that make the scent last longer once applied. Looking at perfumes alone (excluding home scents), sales last year surged 52% over 2020.
In the category, fragrances priced over $175 more than doubled in the number of units sold 2021, the report said.
Prestige fragrances maker Estée Lauder Companies is seeing that trend reflected in its sales, said Stephane de La Faverie, the company's group president.
Also serving as global brand president of Estée Lauder and AERIN, De La Faverie oversees the company's portfolio of prestige fragrances including Jo Malone London, Le Labo and By Kilian as well as Estée Lauder fragrances and AERIN fragrances. Demand for luxury perfumes is being driven by consumers who want a scent that is unique and made with more refined ingredients.
"We are very optimistic that the interest in luxury fragrances will continue thanks to exciting innovations, new fragrance markets embracing this sub-category and consumers always wanting a little piece of luxury in their lives," said La Faverie.
As consumers increasingly gravitate to more upscale fragrances, he said the company is trying to encourage purchases by offering incentives such as trial via sampling, gifting, and engaging with them in a personalized way through virtual consultations.
It's a strategy leveraged by perfume subscription service Scentbird, which sends its 450,000 subscribers trial-size spray vials of luxury fragrances for $15.95 month. The idea is to help shoppers find their perfect fragrance match before they commit to buying a full-size bottle.
Scentbird's subscribers jumped 50% in 2020 — the first year of the pandemic — over 2019, said Bettina O'Neill, the company's senior vice president of business development, merchandising and wholesale.
"We learned that as more people were homebound because of the pandemic restrictions, they were finding ways to still feel good," said O'Neill "They were buying fragrances for themselves and scented candles and fragrances for their homes."
Prestige perfumes typically have a higher concentration of oils and use more expensive raw ingredients, she explained, so as demand soars, so can production costs.
"Chanel No. 5 is one of the best known examples of this. One of the ingredients is a rare flower," said O'Neill. "Another popular prestige fragrance is Baccarat Rouge 540" by Maison Francis Kurkdjian, originally for Baccarat.
The fragrance, which costs upward of $300 for a 2.4 ounce bottle to more than $600 for an 6.8 ounce bottlle, includes a blend of expensive ingredients like jasmine and saffron. If Tiktok is an indicator of its popularity, #baccaratrouge540 has 124.1 million views on the platform.
NPD's Jensen said it remains to be seen if demand for higher-priced perfumes will hold up as consumers are now paying even more on everyday necessities.
"We don't expect it will keep growing at such a robust rate," she said, adding that NPD could see the luxe fragrance category leveling off.
The-CNN-Wire™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.
Copyright 2022 by Cable News Network, Inc., a Time Warner Company. All rights reserved.
©2022 Capitol Broadcasting Company, Inc.