In the past, moisturizers, anti-aging creams, facial cleansers, and makeup were products exclusively used by women, but times are changing. Modern men want to look and feel their best — and they’re willing to stock their bathroom cabinets with grooming items that will help them do just that.
Of course, men don’t want to use the same products as their wives, girlfriends, mothers, and sisters, so the beauty industry is tasked with creating entirely new male-specific toiletries to satisfy this rapidly expanding market. This is an incredible opportunity for your cosmetics company to reach out to a different type of consumer and if you don’t take it — and fast — your competitors will beat you to it.
4 Reasons to Venture Into the Male Grooming Market
Male grooming is in the midst of a major market surge. Learn why your beauty company will be majorly missing out if you continue to exclusively develop products designed for women.
- Increased Interest: Men spent more on male grooming products than shaving toiletries in 2013.
- Greater Spending Power: In many areas of the world — Western Europe, North America, Latin America — men have substantially more disposable income than women, making then a powerful untapped customer base.
- Major Market Increase: The men’s grooming industry is expected to amass $21 billion in revenue in 2016. Top retailer MR PORTER cited a 300 percent growth in 2015 sales of these products.
- Change in Grooming Habits: Results from the Mintel Men’s Attitudes to BPC Brazil 2015 report revealed that 29 percent of men claimed to be spending more time on their hair than six months prior, indicating a general shift in attitude on their overall appearance.
It will be interesting to see how the male grooming industry continues to develop this year. In addition to traditional skincare products, men’s makeup is also expected to become increasingly popular. Now is the time to gather your team and start working on a strategy to reach this fast-growing demographic.
The beauty industry is constantly changing, so if you want to keep up, following the latest trends is a must. Whether you need an expert in merchandising and retail recruiting or a vendor that truly understands logistics and distribution staffing as it relates to our unique industry, Momentum Search Consultants is committed to helping you conduct successful talent searches. Contact us to discuss a partnership!
