PUNE, India, March 29, 2018 /PRNewswire/ --
Global Luxury Perfume Market Overview During 2017-2021 is added in ReportsnReports.com. The analysts forecast global luxury perfume market to grow at a CAGR of 8.33% during the period 2017-2021. Perfume is a combination of various essential oils, fixatives, solvents, and aromatic compounds that contribute to a pleasant scent.
Get complete report on Luxury Perfume Market spread across 64 pages, analyzing 12 major companies and providing 24 data exhibits now available at http://www.reportsnreports.com/reports/1208783-global-luxury-perfume-market-2017-2021.html.
Key players in the global luxury perfume market: Chanel, Estée Lauder, Guccio Gucci, Hermès, and Ralph Lauren. Other Prominent Vendors in the market are: Annick Goutal, Baccarat, Clive Christian, Dior, DKNY, JAR, and Jean Patou. This report covers the present scenario and the growth prospects of the global luxury perfume market for 2017-2021. To calculate the market size, the report considers the segmentation by end-user and distribution and geographical segmentation market.
The latest trend gaining momentum in the luxury perfume market is Product bundling. The high price of luxury perfumes is one of the key challenges for the market. Hence, vendors often use the strategy of product bundling to push products to customers who hold back their purchasing decision due to cost. Product bundling is basically a pricing strategy as per which two or more similar products are sold together for a substantially lower price. In case of perfumes, the bundles are usually made out of a deodorant and a perfume belonging to the same brand; the deodorant is for regular use, and the perfume is for special occasions. Another common bundling strategy is to pair men's and women's perfumes together. Such bundles make ideal gifts for couples, and hence, tend to have high sales. Bundling basically allows vendors to offer cost-effective deals to customers.
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According to the luxury perfume market report, one of the major drivers for this market is Increase in demand from millennial population. Millennials (people in the age group of 18 to 32 years) are known to be extremely brand conscious. They do not mind paying higher prices for a particular product of their choice; however, they would not want to compromise on the quality of the product they opt for. Premium perfume brands come with the promise of higher quality available at different prices. The wide price range and variety of products in the perfume industry enable millennial to choose their perfumes according to their preferences. Further, the luxury perfume market report states that one of the major factors hindering the growth of this market is Competition from products which are available at affordable prices. The key challenge for the luxury perfume market is the high price that cuts down the market size considerably and also reduces the chances of repeat purchases
Another related report is Global Online On-demand Laundry Service Market 2017-2021, The analysts forecast global online on-demand laundry service market to grow at a CAGR of 36.54% during the period 2017-2021. Companies are Cleanly, delivery.com, DRYV, Laundrapp, and ZIPJET. Other Prominent Vendors in the market are: Rinse, FlyCleaners, Wassup-On-Demand, Tide Spin, Mulberrys Garment Care, ihateironing, PML Solutions, Edaixi, laundrywala, WASHMEN, and Laundryheap.
According to the report, one of the major drivers for this market is providing convenience through logistics services. Most players operating in the online on-demand laundry services market provide free pick up and drop facilities. This strategy of providing doorstep convenience has certainly enhanced the demand for online on-demand services, as customers do not have to take the burden of carrying the piled-up laundry to the vendors. Once the customer schedules a pickup time, company personnel collect the package from the doorstep of the customers, processes it, and delivers back it back to the point of pickup, at the promised delivery time. Most vendors provide free collection and delivery services on placing a specified quantity of laundries. Browse complete Online On-Demand Laundry Service Market 2017-2021 report at http://www.reportsnreports.com/reports/1208808-global-online-on-demand-laundry-service-market-2017-2021.html .
Explore other new reports on Consumer Goods Market at http://www.reportsnreports.com/market-research/consumer-goods/ .
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