Men’s shaving subscription services changing the grooming market
Mintel explains that the increased cost of food in Canada has changed the way consumers in that country spend in other categories.
In the report, Canadian Lifestyles: It’s Not Dollars to Donuts Canada 2016, the market researcher looks at consumer spend on food, beverages, clothing, technology, entertainment, beauty and personal care, and more.
Spending less
When compared to other industry sectors, beauty and personal care has grown quite slowly over the past 5 years. Data Mintel graphed in a media release about the Canadian Lifestyles report shows that consumer spend in beauty and personal care grew by 10% or only $15bn from 2010 to 2015.
For perspective, over the same period, consumer spending on transportation in Canada grew by 34%; on dining out by 24%; and on clothing, footwear, and accessories by 15%. Only entertainment spending has grown more slowly than beauty has in the country. Mintel reports that leisure and entertainment spending rose by only 7% between 2010 and 2015.
Overall the firm notes that “nearly three in four (73%) [Canadian] consumers agree they have cut back on the things they do not really need.”
Grooming more
That’s not to say that personal care spending is entirely lackluster. It seems that market share is moving even within categories.
“Canadian men are becoming increasingly interested in looking good for both aesthetic and emotional reasons,” according to Mintel. But how they opt to spend on beauty basics like shaving tools and products has changed recently.
The market researcher highlights 2 reasons men commonly spend: to replenish a product they use regularly and to try something new. “Replacing regularly used items” accounts for 48% of men’s personal care spending in Canada, and trying out a new product is 21% of spending.
Competition in a box
“Subscription services challenge retailers for men’s vanity dollars,” says Mintel, and this has led to a change in the men’s grooming spend.
“When it comes to personal care, men’s shaving is big business; however, big-name brands are encountering increasing competition from subscription services, which appeal to consumer desire for convenience and time saving.”
So just now, keeping up with consumer expectations looks to be advantageous in the slow Canadian beauty market.
