Saudis spend SR1.2 billion on perfumes during Eid

Saudi Gazette

RIYADH – Perfume sales in Saudi markets during the month of Ramadan and Eid Al-Fitr were around SR1.2 billion, according to businessmen and investors in the Saudi perfume markets, Al-Hayat newspaper reported.

The businessmen said the figure represented sales of both imported and regional brands. They added that Ramadan and Eid sales accounted for 40 percent of their annual sales, which stand at SR3 billion.

The second best season for perfume sales is the summer, a time when many Saudi families have weddings. During the summer, perfume sales represent 10 percent of annual sales.

Adnan Al-Ghamdi, an investor in the market, said Ramadan and Eid are the best seasons for most investors. He said 60 percent of imported and regional perfumes displayed in the market are imitations.

Muhammad Bawazir, manager of a perfume shop in Riyadh, said the prices of some rare types of Oud fragrance reach SR60,000 a kilogram. He noted regional perfumes or ones made locally sell well in Ramadan compared with other seasons of the year.

Euromonitor International, which conducts market research and analyses, expects the perfume market in the Kingdom to grow rapidly. The study estimated that a Saudi individual will spend SR211 on perfumes every year, compared to SR68 by each American.

The study estimated annual perfume sales in the Kingdom to each SR3.5 billion by 2017.