Fashion for courageous and hipster beards has seriously hit cosmetic and razor companies. It turns out that firms suffer billions in losses due to lower consumption of men's cosmetics. A modern man chooses a barber shop rather than shaving foam.
Gillette was hurt by beard fashion
Everyone knows Procter & Gamble, a giant in the consumer goods segment. While the company's shares are growing and have reached yet another historic high, its quarterly report gives alarming signals. According to him, income is poor, and the loss amounted to 5.24 billion US dollars.
The lion's share of this indicator was made by the brand of shaving accessories and facial cosmetics Gillette. The reason is simple: a strong half of humanity has set aside razors in favor of a beard. Consumers shave less, which means they do not need huge supplies of blades, razors and foam.
Managers of the company complain about the change of perception of grooming. If earlier the smooth-shaven and rosy-cheeked young man was the standard of business style, now people with unshaven faces and handsome beards are increasingly coming to business meetings. To assess the scale of the disaster for Gillette, just look around the streets of the city. The analysts of the company can only hope that the trend for beards has reached its highest point and will soon decline.
Statistics is relentless
Analysts specifically conducted a study on the subject of "Beards and the big city." It showed that beards are more common in cities with large populations, where there is high competition for jobs.
Scientists explained this phenomenon by saying that “a beard is a social enhancer of masculinity in the context of a crowded environment where you are trying to move forward.” In fact: whoever has a beard is more successful.
It is noteworthy that the fashion for beards began to develop in 2007 - during the global financial crisis. Owners of facial hair made a bet on ease in appearance, which contributed to a faster exit from the crisis.
Euromonitor statistics for the United States show that the demand for shaving products for men fell by 11%, and the market fell from $ 2.4 billion in 2015 to $ 2.2 billion in 2018.
Women supported unshaven
The trend for beards is supported by the beautiful half of humanity. Surveys showed that women prefer men with vegetation (priority is thick bristles, light bristles and thick beards). Alas, smooth-shaven men ranked last in terms of sexuality.
Unfortunately for Gillette, beard fashion remains relevant to this day. The company will either have to wait, or change along with the market to make money. Time will tell.