Men’s grooming continued to see stagnating sales in 2019, with the Russian market struggling due to pressure on disposable incomes in the region’s biggest market. In addition, the fashion for facial hair continues to put pressure on men’s shaving, the biggest category. In 2020, with men spending a lot more time at home than usual due to Coronavirus (COVID-19), they will also likely relax their normal grooming routines, severely impacting sales in this year.
Men’s grooming in Eastern Europe recorded a flat historic period CAGR, with sales negatively affected by the disappointing performance in Russia, where many consumers continue to have low disposable income levels. The declines seen in recent years in Russia pulled overall regional sales down to near stagnation, despite most other countries recording positive annual growth rates.
Men’s shaving remains under pressure from the facial hair trend, among younger men in particular. Numerous different styles of facial hair have emerged in this trend, including bushy or trimmed beards as well as “designer” stubble. With far fewer men now considering it important to be clean-shaven on a daily basis, sales of men’s shaving are likely to remain under pressure throughout the forecast period. For some, however, the facial hair needs to be well groomed, trimmed, shaped and clean and tidy, creating room for a new breed of men’s grooming products to emerge, such as beard oils and moustache wax.
Sales will record a major decline in 2020 as a result of the COVID-19 pandemic, with consumers spending much more time at home than usual. This will be down to lockdowns/quarantines, working from home and the fact that foodservice/horeca establishments will be closed down. Not going to work on a daily basis or having any social occasions will see men becoming less diligent in their daily grooming routines, likely persuading even more of the male population to grow their facial hair, but also reducing the need to use as much of products like fragrances and deodorants. Spending will also be restricted by the economic impact of the pandemic. Sales will rebound in 2021, before settling back into annually stagnating rates from 2022.
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