"Are men going to save the day? With sales of women’s beauty products relatively stagnant over the last few years, many industry officials are turning to the men’s grooming industry as a savior of sorts, reports Drug Store News."
"Industry statistics show that men’s grooming sales are growing by about 5% annually and the category is producing strong margins, thanks in large part to higher price points and the simple fact that most men do not pay close attention to prices when they shop for themselves."
"The global male grooming products market is estimated at $57.7 billion. By 2023, it could balloon to $78.6 billion. That sum is expected to advance at a compound annual growth rate of 5.4%, according to Inkwood Research."
"Propelling that growth are men who buy more than just shaving needs these days as they borrow a page from consumption-heavy women. Men, especially younger consumers, are using antiaging skin care and specialty hair formulas. There is less stigma today in taking pride in a grooming regimen. There are even more male-only salons and barbers, many of which are adding products curated with men’s needs. Facial hair is more accepted than ever, even in the workplace, encouraging more men to grow beards, which also require their own set of maintenance products."
"Shaving still is the cornerstone of men’s grooming, but sales have been sliced by online options and the decrease in daily shaving. The biggest opportunities in men’s grooming lie beyond razors and blades. Space is being cleared on shelves for facial masks, beard oils, grooming tools and even makeup."
"Natural is moving to the front burner in men’s grooming care. The Bulldog spokesperson said men want products that not only deliver results, but they like to align with brands that have a greater purpose."
Cosmetics Shoppers are 127% more likely than other consumers to say their favorite sections of newspapers and magazines are fashion and style, according to AudienceSCAN. Last year, they also took action after seeing ads in both digital and print magazines (44.7%) and newspapers (41.9%). Additionally, 39.2% say that their favorite type of emails to receive from businesses is new product announcements, with 55.3% taking action after receiving email ads last year. Also within the last year, these shoppers were motivated to action by direct mail ads (63.3%), TV commercials (59.2%) and ads on daily deals sites such as Groupon (51.1%).
AudienceSCAN data is available for your applications and dashboards through the SalesFuel API. In addition, AdMall contains industry profiles on cosmetics/skin care shops and drug stores/pharmacies, as well as lead lists at the local level. Media companies, sales reps and agencies can access this data with a subscription to AdMall from SalesFuel.