1
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Deep Dive: Global Male
Grooming Market
Deborah Weinswig
Managing Director,
Fung Global Retail & Technology
US: 917.655.6790
HK: 852.6119.1779
CN: 86.186.1420.3016
KeyTakeaways:
1) Theglobalmarketformalegroomingproductsisbooming.ItisprojectedtoreachUS$60.7billionby2020,accordingtoEuromonitor.ValuedatUS$17.5billionin2015,maletoiletries—whichincludesmen’sbathandshower,deodorant,skinandhaircareproducts—isexpectedtooutpacethatofshavingproductsandfragrances.
2) Brick-and-mortaraccountsforover80%ofmalegroomingproductsalesglobally.Anumberofretailershavedesignedtheirstorelayoutstomeetmaleconsumers’needsinthiscategory,whilesomehaveincorporatedgroomingservicesattheiroutlets,enhancingthecustomerexperienceandcreatingopportunitiesforcross-selling.
3) Althoughmostofthebeautygiantshavealreadycreateddedicatedbrandsorsub-brandsfortheirmalegroomingproducts,severalmalegroomingstartupshaveemergedinrecentyears,successfullytappingintotheunmetneedsandgrowingtrendsinthisfield.
2
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
TableofContentsExecutiveSummary.........................................................................................................................................3
MaleGroomingisa$47BillionMarket............................................................................................................4MaleGroomingHasGoneBeyondShavingandFragrances...............................................................................4AsiaPacifictobetheGrowthEngine..................................................................................................................4
Brick-and-MortarAccountsfor80%ofSales....................................................................................................5RedesigningStorestoMeetMaleGroomingNeeds...........................................................................................6GroomingExperienceataRetailOutlet..............................................................................................................7Pop-UpStoreatChangiAirporttoCaptureMaleCustomers.............................................................................8
MajorPlayersintheMaleGroomingMarket...................................................................................................9
EmergingMaleGroomingBrandsandRetailers..............................................................................................10
KeyTakeaways...............................................................................................................................................15
3
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
ExecutiveSummaryTheglobalmarketformalegroomingproductsisbooming,andisprojectedtoreachUS$60.7billionby2020,accordingtoEuromonitor.Whilesomemayattributethistothegrowthinshavingproductsandfragrances,thestrongestgrowthisactuallyinthelargestcategory,maletoiletries.ValuedatUS$17.5billionandcomprising37%oftotalsalesin2015,thiscategoryincludesmen’sbathandshower,deodorant,skinandhaircareproducts.
ThelargestmalegroomingmarketisWesternEurope,valuedatUS$12.4billionin2015.AsiaPacificisthehighestgrowthmarket,forecasttogrowatacompoundannualgrowthrate(CAGR)of8.1%to$11.5billionby2020fromUS$7.8billionin2015,accordingtoEuromonitor.
Brick-and-mortaristhemaindistributionchannelformalegroomingproducts,accountingfor81%oftotalsalesin2015.Groceryretailersandnongroceryspecialists—mostlyhealthandbeautyspecialistretailers—arethetwomajordistributionchannels,accountingfor37%and36%sharegloballyin2015,accordingtoEuromonitor.
Someretailershavedesignedstorelayoutstomatchmen’sshoppingneedsinthiscategory,includingspecialtybeautyretailerKiehl’s,aswellasdepartmentstoressuchasMacy’sandNordstrom.TheArtofShaving,apremiumgroomingomnichannelchainstore,isofferingbarbershopsinselectedoutlets,deliveringgroomingexperiencestoitscustomers.L’OréalandPhilipscollaboratedinDecember2016andlaunchedapopupbarbershopatSingaporeChangiAirport,showcasingtheirproductsinabidtowidentheircustomerbase.
Whilemostofthemajorbeautyandpersonalcareproductcompanieshavealreadycreateddedicatedbrandsorsub-brandsfortheirmalegroomingproducts,anumberofmalegroomingstartupshaveemergedinrecentyears,successfullytappingintotheunmetneedsandgrowingtrendsinthisfield.
Source:Shutterstock
Whilesomemayattributethistothegrowthinshavingproductsandfragrances,thestrongestgrowthisactuallyinthelargestcategory,maletoiletries.
4
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
MaleGroomingisa$47BillionMarketTheglobalmalegroomingmarketwasvaluedatUS$47.2billionin2015,and,accordingtoEuromonitor,isprojectedtogrowataCAGRof5.2%toreachUS$60.7billionby2020.
Men’stoiletries,whichincludemen’sbathandshower,deodorant,skinandhaircareproducts,wasthelargestcategory,valuedatUS$17.5billion,andcomprised37%oftotalsalesin2015.ItisexpectedtoseethelargestabsolutegrowthofUS$6.4billiontoreachUS$23.9billionby2020,andrisingto39%oftotalsales.
Thenext-largestcategories,shavingproductsandfragrances,werevaluedatUS$14.9billionandUS$14.8billion,respectively,in2015.FragrancesareexpectedtoreachUS$18.7billionand31%oftotalsalesby2020tobecomethesecond-largestcategorywithinmalegroomingproducts,whileshavingproductsareexpectedtoreachUS$18.1billionby2020,andaccountfor30%oftotalsales.
MaleGroomingHasGoneBeyondShavingandFragrancesThegrowthofmen’stoiletriesoutpacingthatoffragrancesandshavingproductsindicatesthatthetrendofmalegroominghasgonebeyondthebasicsofshavingandfragrance.Inrecentyears,moremenarepayingattentiontotheirappearance,boostingthegrowthofmale-specificskincareandhaircareproducts.
Figure1.GlobalMaleGroomingMarket,2015–2020(USDBillion)
Source:Euromonitor
AsiaPacifictobetheGrowthEngineAmongthetop-fourmalegroomingmarkets,AsiaPacificisexpectedtoseethelargestabsolutegrowth,expandingataforecastCAGRof8.1%to$11.5billionby2020fromUS$7.8billionin2015,accordingtoEuromonitor.
ThestronggrowthintheAsiaPacificregioncanbeattributedtotheincreaseindisposablehouseholdincome,whichincreasedtoUS$13,415in
17.5 18.119.4
20.822.4 23.9
14.8 14.8 15.6 16.517.6
18.7
14.9 14.8 15.5 16.2 17.118.1
0
5
10
15
20
25
2015 2016E 2017E 2018E 2019E 2020E
Men‘sToiletries Men‘sFragrances Men‘sShavingProducts
TheglobalmalegroomingmarketwasvaluedatUS$47.2billionin2015,andisforecasttogrowataCAGRof5.2%toreachUS$60.7billionby2020.
5
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
2015fromUS$11,025in2010,exhibitingaCAGRof4.0%,higherthantheglobalaverageof0.6%inthesameperiod.
Korea,theleadingmalegroomingmarketintheAsiaPacificregion,isexpectedtoreachUS$825millionin2016,accordingtotheKoreaTimes.Koreanmenareasobsessedwithbeautyastheirfemalecounterparts,,asillustratedinourreport“KoreanInnovationInBeauty”;acosmeticU&AsurveyconductedbytheKoreaMinistryofFoodandDrugsSafetyin2015revealsthatKoreanmenuseanaverageof13.3beautyitemspermonth,and35.5%ofKoreanmenintheir20susemoisturizer.
ThelargestmalegroomingmarketisWesternEurope,valuedatUS$12.4billionin2015.EvenwiththelowestprojectedgrowthCAGRfor2015–2020of3.0%,itisexpectedtoremainthelargestmarket,reachingUS$14.4billionby2020.
Figure2.MaleGroomingMarketSizebyRegion,2015–2020(USDBillion)
Source:Euromonitor
Brick-and-MortarAccountsfor80%ofSalesBrick-and-mortaraccountsforover80%ofmalegroomingproductdistribution,andinWesternEurope,theshareis91%,thehighestamongalltheregions.
Groceryretailersandnongroceryspecialists—mostlyhealthandbeautyspecialistretailers—arethetwomajordistributionchannelsformalegroomingproducts,with37%and36%sharegloballyin2015,accordingtoEuromonitor.GroceryretailersarethetopchannelinAsiaPacificandLatinAmerica,withashareof39%and38%,respectively.NongroceryspecialistshavethehighestshareinNorthAmericaandWesternEurope,accountingfor32%and45%,respectively.
DirectsellingisamajordistributionchannelformalegroomingproductsinLatinAmericawitha27%share,muchhigherthanotherregions.Itiscommontopurchasebeautyandpersonalcareproductsviadirectselling,
7.89.3
11.112.4
11.5 11.6
13.614.48.1%
4.5%4.1%
3.0%
0%
3%
6%
9%
0
6
12
18
AsiaPacific NorthAmerica LamnAmerica WesternEurope
2015–2020CA
GR
MarketS
ize(USD
billion)
2015 2020E 2015-2020CAGR
Groceryretailersandnongroceryspecialists—mostlyhealthandbeautyspecialistretailers—arethetwomajordistributionchannelsformalegroomingproducts.
6
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
asover50%ofcolorcosmeticsand40%ofskincareproductsweresoldviadirectsellinginLatinAmerica.Furthercoverageregardingdirectsellingofbeautyproductsiscoveredinourreport“TheBeautyMarketinBrazil.”
Internetretailingaccountsfor5%ofmalegroomingproductdistribution.Althoughstillanichechannel,someonlinestoreshavereportedrapidgrowth.Forinstance,mrporter.comrecorded300%growthinsalesinmalebeautyandgroomingproductsin2015,accordingtoareportbyTheIndependent.
Figure3.MaleGroomingMarketbyMajorDistributionChannel,2015
Source:Euromonitor
RedesigningStorestoMeetMaleGroomingNeedsRetailershaverespondedtothegrowingdemandformalegroomingproductswithstoredesignsmatchingmen’sneeds.Forexample,asearlyas2012,somedepartmentstoreshadcreateddedicatedsectionsformalegroomingproducts.AccordingtoareportbyTheWallStreetJournal,Macy’sopeneda“men’sgroomingzone”atitsdowntownPhiladelphiastore,featuringfacewash,moisturizerandothermaleskincareproducts.Nordstrommadeasimilarmovebyrelocatingthemen’sgroomingcounterinsidethemen’sfurnishingsarea.
Kiehl’s,anupmarketskincarebrandownedbyL’Oréal,hasasignificantmalecustomerbase.CompanypresidentChrisSalgardoestimatedthatone-thirdofitscustomersaremen.Thebrandhasover300stand-aloneshopsinover40countries,andthestoredesignsaremadetomakebothmenandwomencomfortablewhentheyshop,accordingtoSalgardo.
37 36
810
5
39
29
15
97
2932
9
37
38
30
2
27
2
38
45
73
5
0%
10%
20%
30%
40%
50%
GroceryRetailers NongrocerySpecialists DepartmentStores DirectSelling InternetRetailing
World AsiaPacific NorthAmerica LamnAmerica WesternEurope
7
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Source:Kiehl’sFacebookPage
GroomingExperienceataRetailOutletTheArtofShavingisahigh-endmalegroomingbrand,withproductsrangingfromshavingandskincaretofragrances.Apartfromitse-commerceplatform,ithasover100retaillocationsacrosstheUS,ofwhich,56featurea“BarberSpa,”whichprovidesshaving,haircuttingexpressfacialservicesusingthebrand’sproducts.Accordingtothecompany’swebsite,it“offersmenanindulgentgroomingexperienceinamasculineandluxuriousenvironment.”Thiscorrespondswellwiththegrowingexperienceeconomy,whereconsumersareshowingawillingnesstoincreasetheirspendingonleisureservicesmorethanonretailcategories.
TheArtofShavingwasacquiredbyProcter&Gamblein2009,aftertheconglomeratehadalreadyacquiredGillettein2005.ThishasextendedtheFMCGgiant’scoverageinthemalegroomingmarketfromthemasstothepremiumsegment.
Source:TheArtofShaving
8
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Pop-UpStoreatChangiAirporttoCaptureMaleCustomersL’OréalandPhilipspartneredinDecember2016tolaunchaMaleGroomingClubatSingaporeChangiAirport.Attheshop,professionalbarbersprovidedarangeofshavingandgroomingservicesusingPhilips’shavers,aswellasskincareproductsbytheL’OréalParisMenExpertrange.Groomingadvisorsatthestorehadone-on-oneconsultationswithmaletravelersontheskincareandshavingproductsthatbestsuittheirneeds.
Theaimofthepop-upstorewastohelpthetwobrandstobettercapturemalecustomers.Asmentionedinourtravelretailreport,beautyproductshavethelargestshareinthisretailchannel.AccordingtoL’OréalTravelRetailManagingDirectorVincentBoinay,customersarealsomorelikelytotryoutnewbrandswhentheytravel,andbecomeloyalcustomersofthesebrandslater.Thispop-upstorethusprovidedthetwobrandsanopportunitytowidentheircustomerbaseastheyshowcasedtheirproductstomaletravelers.
Source:RoyalPhilipsandL’OréalGroupe
Thispop-upstoreprovidedthetwobrandsanopportunitytowidentheircustomerbaseastheyshowcasedtheirproductstomaletravelers.
9
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
MajorPlayersintheMaleGroomingMarketMostofthemajorbeautyandpersonalcareproductcompanieshavecreateddedicatedbrandsfortheirmalegroomingproducts,suchasUnilever’sAxeandP&G’sGillette;orsub-brandssuchasCliniqueforMen,L’OréalMenExpertandBiothermHomme.
Figure4.MaleGroomingBrandsofMajorBeautyCompaniesBrand Company Toiletries Fragrances Shaving
Axe/Lynx/Ego Unilever ✓ ✓ ✓
BiothermHomme L'Oréal ✓ ✓ ✓
CliniqueforMen Clinique ✓ ✓ ✓
Gillette Procter&Gamble ✓
Kiehl’s L'Oréal ✓ ✓ ✓
L'OréalMenExpert L'Oréal ✓ ✓
NeutrogenaMen Johnson&Johnson ✓ ✓
NiveaMen Beiersdorf ✓ ✓ ✓
ShiseidoMen Shiseido ✓ ✓ ✓Source:CompanyWebsites
Althoughamongthethreemalegroomingproductcategories,shavingisprojectedtoseetheslowestgrowthoverthenextfiveyears,itistheanchorpointformalegroomingroutines.Mostofthemalegroomingbrandsoffershavingproducts,andtheyveryoftenpositiontoiletriesasapre-orpost-shavingprocedureinordertohelpcross-selltoexistingmalecustomers.
Forinstance,Niveahasintroducedafacegroomingguideknownas“GetYourPhDinShaving,”whichincludesthreesimplesteps—cleansing,shavingandaftercare.Thisregimeintroducesmalecustomerstoproductssuchascleansers,after-shavelotionsandmoisturizers.
Source:Nivea
Althoughamongthethreemalegroomingproductcategories,shavingisprojectedtoseetheslowestgrowthinthenextfiveyears,itistheanchorpointformalegroomingroutines.
10
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Aswithotherproductcategories,celebritiesplayanimportantroleininfluencingconsumers.Anonlinesurveyconductedin2014revealedthat13%ofmenintheUKclaimedthattheywereinspiredbycelebritiessuchasDavidBeckham,JoeyEssexandDavidGandy.Forinstance,BiothermHommeandSevenGlobal,DavidBeckhamandSimonFuller’sjointventurewithGlobalBrands,havesignedalong-termpartnershiptodevelopamalegroomingline,whichwillbelaunchedin2017.
Source:BiothermHomme
EmergingMaleGroomingBrandsandRetailersAnumberofmalegroomingbrandsandretailershaveemergedinrecentyears,successfullytappingintotheunmetneedsandgrowingtrendsinthisfield.Theyhavegrownrapidlydespitefiercecompetitionfromtheestablishedbeautygiants.
Anthonyhasaseriesofmulti-functional,multi-benefitmalegroomingproductsrangingfromskincareandshavingtobathandbody.Theproductsfeaturenaturalingredientsandutilizethelatesttechnology.OriginallyknownasAnthonyLogisticsForMen,thecompanyrenameditsbrandin2014toreflectitsgrowingpopularityandreachtofemalecustomers,adoptinganewslogan“Developedformen.BorrowedbyWomen”.
Source:BeautyBridge
AnthonySosnick,thefounderofthecompany,wasarealestatedeveloperfrustratedbythelackofqualitygroomingproductsformen.Recognizingthisasanopportunity,hefoundedAnthonyin2000.
Anumberofmalegroomingbrandsandretailershaveemergedinrecentyears,successfullytappingintotheunmetneedsandgrowingtrendsinthisfield.
11
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
BevelisaSiliconValleystartupthatsellsshavingproductsprimarilytargetedatpeoplewithcoarserhairwhooftenfacethefrustrationofirritatedskinandrazorbumps.
Source:Bevel
TristanWalker,thefounderofBevelwhohimselffacesthisproblem,hasturneditssolutionintoabusinessbylaunchingashavingproductlineforthisskintype,theBevelShaveSystem.Itwasdesignedspecificallytohelpreducerazorbumpsandirritation.Thestartupcurrentlysellsitsproductsonitswebsite,andhasexpandeditsbrick-and-mortarpresencetoTarget.
Asof2016,thestartuphasraised$33millioninfundingfromventuresincludingInsightVenturePartners,AndreessenHorowitzandGoogleVentures.
DollarShaveClubwasfoundedin2011.TheUSstartupoffersamonthlymembershipserviceforrazorbladeshomedeliveryforafeeaslittleas$3amonth.In2014,itexpandedtoothergroomingcategoriessuchaspost-shavemoisturizerandhairstylingproductsinresponsetogrowingdemandfortheseproducts,andsurpassedUS$150millioninsalesin2015.
Asthestartupsellssolelyonline,itsmarketingeffortsaretargetedattheinternet-savvymillennials.Thestartupcreatescontentonsocialmediathatclickswithmillennials—themessageisauthentic,directandwithatouchofhumor.In2015,DollarShaveClubhada0.9%marketshareinmen’sshavingproductsglobally,farfromGillette’sshareat55%,accordingtoEuromonitor.However,DollarShaveClubistheleaderonsocialmedia,whereithasover3million“Likes”onFacebook,1millionmorethanGillette’spage.
DollarShaveClubwasacquiredbyUnileverin2016forUS$1billion,accordingtoaBloombergreport,theFMCGgianthadaneyeonitscustomerrelationskills,especiallywiththemillennials,aswellasaccesstothedataandanalysisofitscustomers.
12
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
DollarShaveClub’sFacebookpostpriorto2016Valentine’sDaySource:DollarShaveClub
Harry’sisashavingstartupfoundedin2011.Itofferscustomizedsubscriptionplansbasedonthefrequencythatoneshaves,aswellastheshavingproductsneeded.Customerscanalsopurchasetheirproductsonaone-offbasis.
In2013,Harry’sopenedacornershopinNewYork.Itservesasbothabarbershopandaretaillocation,withacollectionofHarry’sshavingproductsandlifestyleitems.TheshophelpstoextendtheHarry’sbrandexperiencefromonlinetooffline,providingtheopportunitytocross-sellproductsasbarbersgiveadviceorrecommendationstocustomers.Italsohelpstobuildrapportwithcustomers,whoallneedtovisitabarberregularly.
AccordingtoaBusinessInsiderreportinJuly2016,thecompanyhasmorethan2millioncustomers.AsofJuly2015,Harry’shasraisedUS$287millioninsixroundsoffundingfrom16investors,accordingtoCrunchbase.
Source:Harry’s
13
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
TheManCompanyisasubscriptione-commerceplatformformalegroomingproductsbasedinIndiathatlaunchedin2015.ThestartupoffersproductswithanaveragepriceofUS$9–10,amid-marketpricepointthaturbandwellerscanafford.Customerscanfreelychooseabasketofproductsandhavetheproductsdeliveredtothemonaregularbasis.
Thestartupcaterstomenwhoneedawiderangeofqualitygroomingproductsattheirconvenience,accordingtocompanyfounderMohitSaxena.AsreportedbyInc24,TheManCompanyisoneofthefirstentrantstooffermalegroomingproductsbysubscription,whichhasnotbeenattemptedbyanyothercompanyyet.
Source:TheManCompany
MrPorterisasubsidiaryoftheItalianonlinefashionretailerYOOXNet-a-PorterGroup.Itwaslaunchedin2010,positionedasaglobalhigh-endmensweare-tailer.Itcurrentlyhasatotalof2.5millionuniquevisitorseachmonth,andshipstoover170countries.In2015,itrecorded300%growthinsalesofmalebeautyandgroomingproducts.
Source:MrPorter
14
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
Tailor&Spruceisapremiumgroomingbrandlaunchedin2015,targetedmainlyatmaleprofessionals.Ithasreleasedaluxurykitthathelpsmentokeeplookingsharp,with15essentialgroomingproducts,includingrazor,deodorant,comb,toothbrush,pocketmirrorandmore.Thecompanycurrentlysellsdirect-to-consumeronitsofficialwebsite.
Source:Tailor&Spruce
TuroSkinisanemergingmaleskincarebrandthatproducesmulti-beneficialandsimplifiedskincareproductsformen.Understandingthatmostmenarereluctanttousealotofproducts,TuroSkinhascreateda3-in-1showergelthatcombinesshampoo,cleanserandmoisturizerintoonesingleformulathatonecanuseontheface,hairandbody.
Source:TuroSkin
15
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
KeyTakeawaysTheglobalmalegroomingmarketisbooming,asmoremenarepayingattentiontotheirappearanceandskin.Growthofthemen’stoiletriescategory,whichincludesmale-specificskincareandhaircareproducts,isexpectedtooutpacethatofshavingproductsandfragrances.However,webelievethatshavingproductswillremainanimportantcategory,asitistheanchorpointformalegroomingroutines,wheretoiletriesproductsaremarketedaspost-orpre-shavingproducts.
Brick-and-mortarwillremainthemaindistributionchannelformalegroomingproductsinthenearfuture.Someretailershaveredesignedorsetupstoresthatspecificallycatertotheneedsofmalecustomers,whileothersaredeliveringgroomingexperiencesattheiroutlets.Webelievethistrendwillcontinuewiththegrowingimportanceofthemalegroomingmarket.
Anumberofsuccessfulstartupstargetingthesemalecustomershaveemergedinrecentyears.Whilemostinternationalbeautybrandshavealreadyestablishedmale-specificgroomingbrandsorsub-brands,thesuccessofthesestartupsmayinspirethemindevelopingorenhancingtheirbrandsandproducts,suchasidentifyingtheuniqueandunmetneedsofmalecustomers—i.e.,developingsimpleandmultifunctionalproducts,orfindingwaystoengagethemactively.
16
March9,2017
DeborahWeinswig,ManagingDirector,FungGlobalRetail&[email protected]:917.655.6790HK:852.6119.1779CN:86.186.1420.3016Copyright©2017TheFungGroup.Allrightsreserved.
DeborahWeinswig,CPAManagingDirectorFungGlobalRetail&TechnologyNewYork:917.655.6790HongKong:852.6119.1779China:86.186.1420.3016deborahweinswig@fung1937.comEddieWongSeniorResearchAssociate
HongKong:8thFloor,LiFungTower888CheungShaWanRoad,KowloonHongKongTel:85223004406London:242-246MaryleboneRoadLondon,NW16JQUnitedKingdomTel:44(0)2076168988NewYork:1359Broadway,9thFloorNewYork,NY10018Tel:6468397017
FungGlobalRetailTech.com