Chain Drug Review, July 9, 2018

Chain Drug Review July 9 2018 33 PERSONAL CARE REPORT MENÕS GROOMING A tale of two channels brick and mortar versus online NEW YORK Its not been a smooth ride for retailers in the mens shaving category with Euromonitor reporting a drop in sales for 2017 despite aggressive strategies of traditional players and the successes of direct to consumer brands Though retail sales have remained stagnant theres been an explosion of growth online for products in mens shaving and skin care according to Dennis Fisher owner of Bee Bald which manufacturers all natural personal care products for men that are formulated with honey and pollen extract So theres a clear disconnect between what consumers want and what retailers sell Fisher says Multiple facings of existing older brands waste space and inhibit growth which results in lost opportunity In Fishers view it comes down to incremental sales growth versus relationship ad dollars which is what he says is keeping innovation off many shelves and ultimately affecting category growth rates This disconnect aside the global market for mens grooming products remains vibrant according to Euromonitor which projects its value to reach 607 billion by 2020 While shaving along with fragrances remains one of the most reliable categories in the mens grooming space male toiletries which include mens bath and shower deodorant and skin and hair care products is the strongest driver of growth for the overall market The market for male toiletries reached 24 billion in 2017 according to the Male Toiletries Market Global Industry Trends Share Size Growth Opportunity and Forecast 2018 2023 report from Research and Markets One of the major factors driving the male toiletries market according to the research firms report is the rising trend of metrosexual men who pay more attention to their appearance and are willing to spend a significant amount of dollars on their grooming clothes and beauty treatments In fact one of the growing fashion trends in mens grooming according to British GQ is men turning to Korean face masks an antiaging and reparative technique in the K beauty realm most often associated with women These sheets that cover the face for 15 minutes or so prevent drying and help heal the skin British GQ also reports men are opting for a new generation of tanning products designed to give their skin a subtle barely perceptible glow without the potentially harmful consequences of tanning beds or getting too much sun Further influencing this growth are the celebrity endorsements of male grooming products along with recent fashion trends Consequently major cosmetics manufacturers are introducing male versions of their popular products such as moisturizers face washes antiaging creams and skinlightening creams according to Research and Markets Growth in the number of mens salons has further contributed to the expansion of the male grooming sector Owing to these factors the market Research and Markets predicts is expected to reach a value of 29 million by 2023 exhibiting a compound annual growth rate of 33 during the 2018 2023 period The report has segmented the global male toiletries market on the basis of type covering both mass product and premium product The market is further reviewed on the basis of products with deodorants as the most popular segment This segment is followed by hair care products skin care products and bath products Among the distribution channels covered in the report supermarket hypermarket pharmacies department stores and specialty stores supermarket hypermarket is the largest segment based on Research and Markets data Region wise Europe represents the largest market accounting for the majority of the global share With beards pronounced dead clean cut look takes over NEW YORK The full Grizzly Adam beard has been a noticeable fashion trend for men recently as corporate culture has become increasingly accepting of men with facial hair and hair styles that express their personalities But fashion being the cyclical phenomenon that it is clean shaven men with more squared away and conservative looks might be the next trending style Beards are on their way out and clean is back says Dennis Fisher owner of Bee Bald Quirkier unique brands with high quality products and competitive pricing structures are the ones creating incremental growth for retailers who recognize it and can nimbly shift gears But British GQ goes further than Fisher proclaiming that the big news in facial hair is that the beard is officially dead Celebrities being major influences on styles and fashion British GQ points to George Clooney and Brad Pitt both of whom have been sporting a more clean cut appearance as of late as evidence of this trend But theres good news for men still wanting facial hair to accentuate their personal style because while beards are becoming less fashionable moustaches are coming into vogue This trend is also good news for razor manufacturers and retailers especially online players such as Dollar Shave Club Harrys and Gillette On Demand which offer blades and other shaving products for substantially less than whats available on the shelves because maintaining a clean shaven look requires frequent shaving with a fresh blade in order to reduce nicks and burns A recent study published by ReportBuyer com looking at the global shaving industry between 2016 and 2024 confirms the opportunity that Fisher sees for retailers who can jump on this trend The rising consciousness towards personal grooming as well as increasing preferences towards shaving products for removing body hair are factors the report cites as triggering the growth of the global market Male consumers of shaving products no longer just women are more commonly shaving other parts of the body besides the face such as chest hair arm pits legs and arms One company seizing the momentum of this trend is Royal Philips which earlier this year launched the Philips Norelco OneBlade Face Body electronic razor trimmer This new shaver from one of the leading consumer electronics players can trim edge and shave any length of hair on the face or body giving men a single tool that allows them to create any facial hairstyle The OneBlade Face Body comes with two blades one for the face and one for the body with a click on skin guard that provides an extra layer of protection for sensitive areas Also included with the device is a 3 millimeter body comb to efficiently trim body hair in any direction Philips Norelco leverages advanced technology and consumer insights to create products that improve peoples lives Philips Norelco OneBlade Face Body was specifically created based on feedback from men said Sasha Markovic senior director of marketing at Philips Personal Care North America who added that 70 of Millennial men groom their body and use multiple steps and different tools According to Philips internal research one in two OneBlade owners also use their OneBlade on their body which was the reason the company created an all in one tool that allows men to safely trim and shave any length of body hair whether on the face or the body Edgewell completes Jack Black pickup ST LOUIS Edgewell Personal Care recently completed its acquisition of Jack Black a leading U S based luxury mens skin care products company which was initially announced at the beginning of the year Though specifics of the transaction were not disclosed the acquisition was funded from operating cash and is expected to be neutral in terms of earnings per share in fiscal 2018 Founded in 2000 Carrollton Texas based Jack Black offers a full range of mens beauty and personal care products including skin care body care shaving hair care fragrances razors and gift sets Jack Blacks largest markets are in the U S and Canada according to Edgewell where it is a top selling brand at such retailers as Nordstrom Ulta Beauty Neiman Marcus Bloomingdales Dillards and Sephora Edgewell also notes that its new acquisition has experienced robust e commerce growth via the online platforms of its prestige retail partner Amazon Luxury Beauty and its getJackBlack com website As a challenger company in mens grooming Edgewell has continuously pressed beyond category conventions to bring unique solutions and innovation such as Schick Hydro and Bulldog skin care to satisfy mens everyday grooming needs stated chief operating officer Colin Hutchison Similarly Jack Black is a breakthrough brand driving the growth of the luxury mens category through product innovation and cultivation of a highly engaged loyal and growing customer base