The majority of the world's population now lives an urban existence, spending as much as 95% of their lives indoors. The olfactory atmosphere in the built environment has been shown to exert a profound, if often unrecognized, influence over our mood and well-being. While the traditionally malodorous stench to be found indoors (i.e., prior to the invention of modern sanitation) has largely been eliminated in recent centuries, many of the outbreaks of sick-building syndrome that have been reported over the last half century have been linked to the presence of a strange smell in the environment. At the same time, however, there is also growing evidence that consumer behavior can be manipulated by the presence of pleasant ambient odors, while various aromatherapy scents are said to improve our mood and well-being. This Anglophone review focuses primarily on indoor western urban developed spaces. Importantly, the olfactory ambience constitutes but one component of the multisensory atmosphere and ambient odors interact with the visual, auditory, and haptic aspects of the built environment. Surprisingly, the majority of published studies that have deliberately chosen to combine ambient scent with other sensory interventions, such as, for example, music, have failed to increase store sales, or to enhance people's mood and/or well-being, as might have been expected. Such negative findings therefore stress the importance of considering multisensory congruency while, at the same time, also highlighting the potential dangers that may be associated with sensory overload when thinking about the effect of ambient smell on our well-being.