Razor sales take it on the chin
Harry’s beard trend shaves £23.3m off annual figures
THE growing fashion for beards has clipped sales of shaving products, trimming them by millions of pounds a year.
Demand for razors, blades and shaving preparations is plunging as more men opt for beards or stubble. Prince Harry, Idris Elba and David Beckham are among those who have made facial hair fashionable.
Sales in the increasingly cutthroat market dropped by £ 23.3million last year – five times the previous year’s fall of £ 4.6million. Industry experts say the hipster trend and less formal workplaces mean men are not shaving as often.
And a study by Wilkinson Sword found 43 per cent of men have grown a beard to hide features such as a baby face, double chin or blemishes.
The firm’s Diana Graovac said: “Relaxation of appropriate work attire means there’s less need for men to shave daily.” Sales at the firm were down 11 per cent last year, a drop of £6.6million.
Meanwhile the UK’s biggest brand, Gillette, saw sales drop 4.5 per cent – worth just over £11million – says market analyst Nielsen, for trade mag the Grocer.
The magazine warned shaving brands had suffered in recent years as they “watched the value slip in the bristly face of the hairy hipster and men’s more casual approach to grooming”.
The shaving industry as a whole has seen its value fall by six per cent – to just £330million a year.
And it has been shaken up by online subscription firms such as the Dollar Shave Club, sold to
Marmite maker Unilever three years ago for £760million. Jeremy Carson, founder of male grooming specialist Fit Kit, says online brands threaten the big retailers – but could be “a great opportunity for men’s skincare brands”.
Separate figures show men splashed out almost £5million on beard care products in the past year, with Prince Harry’s decision to keep his beard for his wedding last May being credited with giving the trend an extra boost.
Ben Hanson, of analyst Nielsen, said: “Alongside all the premium beard care products now available, more people now work from home – where many put considerably less effort into appearance. Beards have become a facial mainstay.”