The rise of beards and stubble is the reason why — for the first time ever — men’s shaving will no longer be the largest men’s grooming category.
Nicole Tyrimou, a Beauty and Personal Care Analyst at Euromonitor International, recently wrote an in-depth piece titled “Civil War in Men’s Shaving” on why the segment has lost its dominance.
By 2013, men’s toiletries will be earning the same amount as men’s shaving products, which Tyrimou attributes to the decline in razors and blades in men’s shaving sales.
For instance, Procter & Gamble, which owns both Gillette and Schick, has taken a recent hit with unit sales of Schick razors dropping 10%.
She attributes that decline to the current popularity of stubble, the growing acceptance of beards in the work place, and the fact that shaving and razors continue to grow more expensive each year.
In short, shaving less frequently and more cheaply has become the norm in Western Europe and America.
Thanks a lot, hipsters.
Ultimately though, Tyrimou thinks the men’s shaving industry will bounce back. Now that the current trend is stubble and/or beards, she foresees a growth in manual and battery-operated trimmers, beard and mustache dyes, styling gels, and products to “nourish and smooth facial hair.”
Here’s hoping we’ll get some great ads out of it.
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