The Wet Shave Market.
The wet shave market includes disposable razors, razors and blades from brands such as Gillette, Wilkinsons Sword and Bic. These brands tend to be unisex and have specialist lines dedicated to each gender. Wet shave razors appeal to both Men and Women due to their ease of use, cost effectiveness and lack of embarrassment in comparison to visiting a salon- Men are much more unlikely to spend money on a longer lasting hair removal solution especially if it is deemed as 'feminine'.
With an aging population and higher wages within professional jobs it is possible for the companies to command a higher price tag for innovative products. Razors/blades are the most valuable inWith this disposable income has slowly rose over the past 5 years increasing by $257 billion in total (08-13) and forecast to increase to £374 billion by 2018; there is much more money available to be spent in the personal care department. the hair removal market accounting for an estimated 61% of value sales in 2013. Growth for the wider shaving and hair removal market continues with value sales of £625 million predicted for 2013 a 1.8% growth from 2012. Due to an effect known as 'the lipstick' effect, so called by Estee Lauder who found that in times of hardship, economic crisis or disaster, consumers are still willing to spend money on little luxuries in the personal care department- allowing room for the prestige personal care department to grow. It has also been found that Men are much more likely to exercise or play sports weekly and due to the recent London olympics plus the upcoming Fifa World Cup the interest in sport is set to rise further. Men's active lifestyles actively dictate the toiletries choice so whether it be aimed at post sport use or endorsed by a sportsman, it is set to be popular.
For the Men's and Women's shaving and hair removal market, Men and Women aged 25-34 and Men aged 45-64 and 65-74 were identified to have the most influence on the market value. 59% of Mens toiletries users believe that being well groomed makes them look more professional and with an ever expanding 'white collar' work force due to a predicted decrease in unemployment over the next five years; razors are indispensable. Although 2013 saw the return of the beard, heralded by a range of models and A-list actors, razors are set to be just as popular. 27% of men have a beard/stubble whilst 15% ensure it always looks neat which requires a wet shave razor. An aging population will increase the need for wet shave razors; by 2015 almost 1 in 5 people will be aged 65 and over. Men aged 55+ are more likely to remove hair from the chin/jawline daily with 53% doing this in comparison to 10% of 16-24 year olds and 17% 25-34 year olds. I believe this to be an unfair representation due to the fact that older Men have much coarser, thicker and faster growing hair; they NEED to shave everyday whereas younger Men have much softer 'Bum Fluff' that doesn't require daily shaving.
Grocery multiples remain the dominant channel for purchasing shaving and hair removal products (47p in every pound spent in the market). Chemists and drugstores are also popular with their large array of products, strong high street presence, special offers and loyalty incentives. Although shaving and hair removal is not prominent in department stores, with the new drive to get people in-store for treatments, gives potential for extra sales being made alongside these of at home removal products.
For the Men's and Women's shaving and hair removal market, Men and Women aged 25-34 and Men aged 45-64 and 65-74 were identified to have the most influence on the market value. 59% of Mens toiletries users believe that being well groomed makes them look more professional and with an ever expanding 'white collar' work force due to a predicted decrease in unemployment over the next five years; razors are indispensable. Although 2013 saw the return of the beard, heralded by a range of models and A-list actors, razors are set to be just as popular. 27% of men have a beard/stubble whilst 15% ensure it always looks neat which requires a wet shave razor. An aging population will increase the need for wet shave razors; by 2015 almost 1 in 5 people will be aged 65 and over. Men aged 55+ are more likely to remove hair from the chin/jawline daily with 53% doing this in comparison to 10% of 16-24 year olds and 17% 25-34 year olds. I believe this to be an unfair representation due to the fact that older Men have much coarser, thicker and faster growing hair; they NEED to shave everyday whereas younger Men have much softer 'Bum Fluff' that doesn't require daily shaving.
Grocery multiples remain the dominant channel for purchasing shaving and hair removal products (47p in every pound spent in the market). Chemists and drugstores are also popular with their large array of products, strong high street presence, special offers and loyalty incentives. Although shaving and hair removal is not prominent in department stores, with the new drive to get people in-store for treatments, gives potential for extra sales being made alongside these of at home removal products.
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