Core Insights - The fragrance industry in China is experiencing significant growth, with the retail market size increasing from 11.4 billion RMB in 2018 to 22.9 billion RMB in 2023, reflecting a compound annual growth rate (CAGR) of approximately 15% [3] - The market is projected to reach 44 billion RMB by 2028, with a CAGR of about 14% [3] - A recent white paper reveals a shift in consumer behavior in Hong Kong and Macau, with 81% of respondents incorporating fragrance into their daily lives, a 9 percentage point increase from the previous year [3] - The perception of fragrance is evolving from a luxury item to an essential for emotional and health well-being, with 86% of consumers extending their personal fragrance preferences to their living spaces [3] Industry Trends - The fragrance market is becoming a key medium for promoting emotional health, with 30% of consumers using fragrance for relaxation, 26.8% for comfort, and 22% for tranquility [3] - Nearly 18% of consumers use fragrance to alleviate stress and anxiety, highlighting the market's role in "emotional health" [3] - In commercial settings, 70% of consumers prefer shopping spaces designed with fragrance, which can increase dwell time by 58% and enhance purchase intent by 52% [3] Company Strategy - The company, Ying Tong Holdings, is focusing on a dual strategy of upgrading its "local brand matrix" and enhancing the "Perfume Box" retail experience to capitalize on health consumption trends [3][4] - The CEO emphasizes the industry's transition from decorative products to emotional health solutions, aiming for a comprehensive upgrade of the fragrance industry [4] - Plans include opening the first fragrance experience flagship store in Hong Kong by 2026 and a "Perfume Box" flagship store in Shanghai by the end of 2025, providing immersive retail experiences [4]
颖通控股(06883)发布《2025港澳香氛市场发展趋势白皮书》