How(why?) male grooming is one of the fastest growing markets out there is no mystery. Aggressive marketing campaigns with no less than the most good-looking celebrities as endorsers have heartened men to invade the grooming territory once the prerogative of their female counterparts.
Exfoliating, moisturizing, hydration and even makeup are no longer for “women only” grooming routines. Because of this, the male grooming business has grown by leaps and bounds in the last decade or two to become one of the grooming industry’s most dynamic sector. .
And since more and more products are introduced in the market almost everyday, grabbing our attention and raising our awareness apropos the benefits of these products, the male grooming market is expected to even grow stronger in days/years to come.
Attitudes and behavior to grooming have drastically changed in the last couple of years. Many taboos are becoming pure myths and, we,men have become more conscious of how we look and appear in the eyes, not only of women, but even of our fellow gents.
This change in attitude gave rise to the metrosexual male, a guy who is overly meticulous about his looks, and spends a lot of money to attain that look. This attitude to grooming has since became the norm and the accepted practice.
Finding the pot of gold is really an exaggeration, the reality is that millenials have more purchasing power now more than ever. According to a report, millenial spending in America alone will be contributing $200 billion to the economy this year. By 2018, the spending power of the millennials will be the highest compared to other generation.
This makes the millennial male who is taking self-care seriously the prime target of aggressive marketing for grooming products.
Males in the 35-44 age category are the ones driving the total market demand for grooming products since they are the ones more deeply invested in their looks. Their higher purchasing power also makes them less price sensitive and are inclined to buy in spite of the cost.
Although the popularity of stubble/beard trend may have negatively affected the sale of shaving products, it has also considerably increased the sale of skin care products for men. The sale of skincare and beauty products for men have grown steadily and is even considered as the segment with the most potential.
The trend has also driven the hair care grooming segment for men upwards, as well as the barber shop and male salon markets both in the US and in Europe.
Another factor that made male grooming one of the fastest growing markets out there today is the upswing of direct sales channel driven by the convenience and accessibility of online shopping. Direct selling is the most dynamic retail channel for male grooming products. When direct sales ventured into the e-commerce world, the potential for increase in the sale of grooming male products more than doubled.
The change in the attitude and approach to male grooming coupled with the increase in the purchasing power of the male species plus other factors are the reasons why male grooming is one of the fastest growing market out there. It is anticipated that cosmetic companies will continue to find ways to exploit this phenomenon and offer more new products and technologies that will further serve as an impetus in the growth of this particular segment of the grooming industry.