The Perfume Shop has extended its price freeze campaign until 2024. Having launched the initiative in October, the retailer is pledging that there will be no price increases on 138 of its best-selling, branded fragrances this year.
The Perfume Shop is also offering the 4.5 million members of its VIP Rewards Club scheme an additional 10% off all price freeze lines. The free Rewards Club Membership enables shoppers to earn Perfume Points every time they shop with the retailer.
Gill Smith, Managing Director of The Perfume Shop, said: “We launched our price freeze commitment last October and by extending it to include even more top brands until 2024 we hope that our customers can treat friends, family or themselves, with the knowledge that our prices won’t change.
“We know our customers will be looking to purchase perfumes in the lead-up to Mother’s Day and Father’s Day, and so we’ve made sure we have lots of options to choose from across different price points.”
NAM Implications:
- Given that three to five years is the average shelf life of a fragrance…
- …it is possible that the Fragrance Shop may have contracted/bought ahead…
- …to avoid/minimise pipeline inflation.
- Thus enabling a 2024 price freeze.
- Which coupled with the Members discount…
- …should move the products and build loyalty/repeat business.
- Fingers crossed…
