Men’s toiletries are now selling about as well as men’s shaving products, and are set to leap ahead. It will be the first time, within the men’s grooming sector, that shaving products are not the top sellers.
This is according to a report from Euromonitor International, which notes that trends in the men’s shaving market tend to be decided by Gillette, which has a 60 per cent market share of this category.
According to the report:
The vogue for stubble, the relative non-hairiness of Chinese men, growing acceptance of the unshaven look in the workplace and, most importantly, the ever increasing cost of shaving have all been damaging to men’s shaving and Gillette alike. Furthermore, a slow innovation pipeline, with only three major new product launches since 2005, one of which was a collaboration between Gillette Venus and Olay, indicates that Procter & Gamble’s financial issues have affected its R&D activities.
Nonetheless, in 2012, Gillette introduced its first major innovation in two years – the Fusion ProGlide Styler, a 3-in-1 battery-operated razor which serves as both a shaver and styler. This indicates a new era in men’s shaving, with razor manufacturers creating more sophisticated multi-functional products with higher unit prices in an effort to compensate for lower demand and longer repurchasing cycles.
The report coincides with the launch of a dedicated Men’s Grooming Store at Amazon