More people are liking niche scents, which is helping the perfume market in Asia. This market has been small when you look at skincare and makeup. Big global names, like Byredo, are trying hard to win over local fans.
In places like China, South Korea, and Japan, the scent market has not been big. People there do not use scents as much as in the U.S. or the Middle East, where many folks wear a scent every day and often own more than one nice perfume.
But this small market is changing. Consumers are getting used to the idea of having and trying more scents. While big brands like Chanel and Dior have been known there for a long time, niche brands are now ready to benefit from the growing wish for rare, odd, and special scents.
Niche brands have a good spot in the market because they offer things that feel special. Rachel Lee, a consultant at Foresight Factory, said, "People do not want what everyone else has." She also said the more odd the scents, the better they seem. For example, SW19, a cool brand from Korea, is named after a fancy area in London and makes people feel like they are in the know.
Sable Yong, an author and co-host of a scent podcast called Smell Ya Later, said, "Interest is now huge. People want what is new, not found, and from abroad." She noted that Asian buyers are tired of the usual brands. They want to find more niche names, which could help brands from outside. "If you want something new, it makes sense to buy from overseas," she said.
Lee pointed out that people like lighter scents, which go along with other trends in Asian beauty. "Think about trends in Korea, China, or Japan; it's all about clean skin and not using too much makeup," she mentioned.
But as this market grows, people, especially younger ones in Gen Z and Millennials, are open to trying many more scent types.
Federica Levato, a senior partner at Bain, said scents that are popular often use traditional Asian scents like green tea and cherry blossom. She called it culturally relevant shopping since it helps buyers mix their taste with Western trends.
For global brands to make it, they need to have local plans, Lee said. Any new moves must have real impact and need to be creative. She noted that the trendy Korean eyewear brand Gentle Monster does a great job of storytelling and setting up unique stores with eye-catching displays.
Global brands must also compete with local ones. Levato noted that brands selling directly to customers have an edge due to the young shopper base. DTC brands are better at creating a good store feel and smart marketing.
Though Byredo is strong in the West, it may not have the same niche charm anymore, as new brands are coming in. However, in newer markets like Asia, Byredo is seen as fresh and still has that new vibe.