High unemployment, poverty and spending cuts, lead to the path of austerity. Since 2008 arrived and the economy around the globe has not being where it should be. The less money we have, the less we spend on things that make us smell fresh.
Worldwide, the perfume market was one of the cosmetics and hygiene products' categories that took the most beating during the recession, all along of consumers focusing their expenditures on prime necessities.
However, things are getting back to normal, and people are backing to smelling their best. And that's great news for perfume companies. Today, the industry is back to healthy growth track, with the potential to flourish in the foreseeable future.
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