The “olfactory economy” is booming in the post-pandemic Chinese market. More and more niche/high-end fragrance brands have come to the forefront, becoming popular among young fashion consumers.
According to Euromonitor’s pre-pandemic fragrance market forecast, China’s fragrance market is expected to reach 12 billion RMB by 2023. Among which, the high-end fragrance market has grown rapidly over the past decade, with sales growth rate far outpacing other categories. In the post-pandemic time, the potential of the fragrance market in China, in particular, has been boosted, because the “u …
