Men's Grooming in Argentina

PRE-COVID-19 PERFORMANCE

Beard trend exerts growing influence on demand

During 2018 and 2019, barbershops expanded strongly because of the trend towards groomed beards, particularly amongst men aged below 35 years. This trend has also led to the emergence of a new niche of men’s grooming products in the Argentinean market.

Skin care sees continued growth despite poor economic environment

Although increased consumer budget-consciousness threatened the development of men’s grooming insofar as the personal grooming regimens of many male consumers had yet to become firmly established at the end of the review period, men’s skin care continued to perform well in 2019. While it should be noted that growth came from a low base, industry sources considered men’s skin care to offer considerable potential at the end of the review period.

Men’s grooming attracting growing range of players

Procter & Gamble Interamericas retained the lead in men’s grooming in 2019, despite seeing the continuation of a trend of value share decline that persisted throughout the review period. The leader’s share erosion resulted from increasing competition in the category as a growing number of players launched products to target Argentinean men’s increasing interest in their appearance.

2020 AND BEYOND

COVID-19 impact

Sales of men’s grooming are now expected to fall by 4% in 2020 in 2019 constant value terms in light of the impact of COVID-19. While this is the same rounded up figure as that forecast during research conducted at the end of 2019, the new growth rate is actually slightly slower.

Affected products within men’s grooming

Most categories of men’s grooming are expected to see sales fall in both volume and 2019 constant value terms in 2020, with efforts to curb the spread of COVID-19 exacerbating an economic environment that is not conducive to the development of new areas of spending. Men’s post shave and premium men’s deodorants are amongst the categories expected to see the worst performances in 2020, as they suffer from consumers giving up on products that are perceived to be non-essential and trading down to less expensive alternatives.

Recovery and opportunities

Having seen a significant fall in sales as a result of the economic difficulties of 2019 and the exacerbation of the situation by COVID-19 in 2020, most areas of men’s grooming are expected to see signs of recovery in 2021. Moreover, growth is expected to improve over the course of the forecast period.

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