SWOT Analysis of UK

Strength
 In 2022, the Fragrances industry will generate $2,520.0 million in revenue. The
market is anticipated to increase at a rate of 3.70 percent each year (CAGR 2022-
2026) ("Fragrances - United Kingdom | Statista Market Forecast", 2022) .
 This fragrance market involves the market user for the perfumes and any other kind of
fragrances that will covers the body order. So, from this it is concluded that the
United Kingdom have good consumer base for our organic perfume.
 The UK has a very well-educated workforce that supports the tertiary service
industry.
 The UK has a very well position in the international market, with solid linkages to
both import and export countries (Bush & About The Author Thomas BushThomas Bush
is an English-born writer, 2016).
 Because of UK’s good government policies and as developed nation it has very good
national political stability (Bush & About The Author Thomas BushThomas Bush is
an English-born writer, 2016).

Figure 1: Fragrance Revenue

Source: ("Fragrances - United Kingdom | Statista Market Forecast", 2022)

Figure 2: Global Value comparison

Source: ("Fragrances - United Kingdom | Statista Market Forecast", 2022)

Opportunity

 In the UK the product cost is between 15.01-135 GBP there will be no duty required
to pay but VAT will be added where it is appropriate ("UK Import Guide: What you
need to know", 2022).
 The statics shows that the very year the perfume or fragrance import increased in the
United Kingdom (CAGR 2022-2026) ("Fragrances - United Kingdom | Statista
Market Forecast", 2022).
Weakness

 There are so many kinds of brands that are offering the same product as we do have.
There will be great competition in the market.
 In the market there are too many organic perfumes which are sold on very high
discounts.
 As our product be organic perfume so it will cost high so maybe possible less
consumer will buy the product.
 As the United Kingdom and Canada have long distances so transportation costs are
exorbitant and expensive (Bush & About The Author Thomas BushThomas Bush is
an English-born writer, 2016).
Threats

 One of the major issues is that people start producing fake products which is one of
the global challenges.
 Insecurity over the gifting, as different people have different fragrance tests.
 Due to pandemics people are living within the home so they are purchasing fewer
perfumes (Іhnashkina, Dushyna & Moskalets, 2020).
Reference

Fragrances - United Kingdom | Statista Market Forecast. (2022). Retrieved 14 February 2022,
from https://www.statista.com/outlook/cmo/beauty-personal-care/fragrances/united-
kingdom#revenue

Bush, T., & About The Author Thomas BushThomas Bush is an English-born writer. (2016,
June 15). A SWOT Analysis of The UK. PESTLE Analysis.
https://pestleanalysis.com/swotanalysis-of-the-uk/
UK Import Guide: What you need to know. (2022). Retrieved 14 February 2022, from
https://wise.com/gb/blog/uk-import-guide

Іhnashkina, T., Dushyna, L., & Moskalets, T. (2020). WORLD MARKET OF PERFUME-
COSMETIC PRODUCTS: MODERN TRENDS AND PROSPECTS. Market Infrastructure,
(41). doi: 10.32843/infrastruct41-14