The global male grooming market is expected to increase by more than five billion dollars in the next four years, which presents huge opportunities for brands to tap into. We already see the US and the UK leading the market in new product launches, however, Asia represents the largest amount of growth and share of the market with 65%.
There’s a whole new era facing men in the personal grooming department, so brands must address the differences in grooming habits. This may also mean changing media habits, or changing the way men receive their products, like through subscription-based delivery services.
Millennials also represent a new luxury. High technology is seen as a requirement to stay current with the world around them, and millennials will spend several hundreds of dollars (even if they can’t afford it) to do so. Whether it be the new iPhone 8 or any other pricey gadget, millennials are always connected to their devices, therefore prefer to stay current with technology.
Combining these two trends seems to be the answer to access this exciting market.
· How can you demonstrate one of your product’s health benefits on-pack?
· Could the packaging be an extension to the brand’s media campaigns?