According to market research, the men’s skincare segment is fast emerging as the market leader in the male grooming industry. Manufacturers are going after the male end users with marketing tactics that are appropriate to their way of life due to the dwindling overall sales growth in the recent past few years. Simple and multi-purposed products such as cleansers, shave treatment as well as moisturizers in the prestige market are the ones that are doing well currently since they belong to the basic regimen. In sales revenue, facial exfoliators come in second due to the fact that men are now beginning to take care of their skins past merely washing them with bar soap. (By Louise Prance, 2006)
It’s no longer about looking better or feeling younger, but it’s about the relevance of the products in their lifestyle as well as impressing the ladies as the old adage goes. Using this as the benchmark, there is great potential in the men’s skincare industry if it can go after men and broaden the end-user base by emulating if not getting better than the size and success of the men’s prestige fragrance industry. Although this may not lead to higher spending on cosmetic products, a recent consumer report hints that there is a lot of pressure on the majority of male American consumers to look good. Presently there is a universal acknowledgment that men want to look good too. With the U.S. in the lead, there is overwhelming unanimous acceptance of the metrosexual male by consumers worldwide. Apart from this, the spending pattern is also determined by the age of the consumer, consumers in their 20s, as well as teens, spend more compared to their much older counterparts. Looks like the older one gets, the less he spends. (Katie Bird, 2007)
Consumers have several reasons why they invest in personal grooming. Grooming makes them feel better according to the majority of American consumers. A recent study shows that men want to get ahead at work by appearing professional hence going for male skincare products. This trend has resulted in rapid growth in male skincare products especially the office-bound professionals whose smart appearance has an impact on their career success. To remain competitive in the workplace, men of all ages are trying to look young. To help the face look fresh, youthful, and energized, men, use products such as moisturizers. (Guy Montague-Jones, 2007)
Lifestyles, as well as the identity, are now closely associated with beauty and health products. In such a crowded marketplace, successful marketers now understand that there is an emotional element involved as far as beauty products purchase decisions are concerned. These emotions are the ones being exploited by manufacturers to curve a niche in this crowded and competitive industry. Manufacturers are piling high-end brands as well as mainstream brands despite slow growth rates. Real growth in male grooming products is a longer-term project as attitudes take a long time to change. (Diana Dodson, market analyst for Euromonitor)
Male consumers who are inhibited to buy these products in stores use the internet as their main retail area despite the upsurge in cosmetics in stores. It won’t be long before there are more and more specified cosmetic ranges aimed directly at men as more manufactures now recognize the increased need for male consumers to feel and look good by using the different male cosmetics available in the market today. (Louise Prance, 2007).
References
Burt’s Bees (2009), Web.
Louise Prance, (2007) Web.
Guy Montague-Jones, (2007) Web.
Diana Dodson, market analyst for Euromonitor. Web.