LONDON, Nov. 10, 2003 (PRIMEZONE) --The men's grooming industry has been growing at a steady pace over the last couple of years but the latest predictions are forecasting a revenue explosion.
According to Tom Granese founder of Regimens(R), the market will be worth an estimated $5.5 billion by 2006. These figures are backed up by Kline and Company who have seen sales men's skincare products triple in the last ten years, the challenge is how to tap into this lucrative market.
However, it's only recently that we've begun to see big increases in R&D and marketing activity for products beyond the male hair gel and deodorant staples. So, why the big interest all of a sudden? What lifestyle changes are occurring that makes men want to focus more on their looks?
It seems that recent media coverage exploiting the "Metrosexual" trend and hit TV shows like "Queer Eye for the Straight Guy" have contributed to the massive surge in consumer interest. But men's magazines like FHM and Men's Health have also played a significant role through education and product promotion. Whatever the causes-the question being bandied about in the boardrooms of leading cosmetic companies worldwide is how to grab the lion's share of this increasingly lucrative market.
Now that marketers are exploring the real potential of the men's grooming industry it's becoming clear that success is not just about launching a new razor or hair gel into the market, it is about developing and promoting gender specific products and promotional strategies.
Men don't want to use women's skincare products, they are increasingly accepting of potions and lotions, have their own particular needs in the area of skin and haircare and, to get their business, companies need to think as smart as this new breed of customer wants to look!
So how do you market to the "metrosexual" and beyond? Brand marketers, retailers, advertisers, strategists and members of the media are battering down the doors of lifestyle gurus and trendsetters to try and get a handle on the best route to take.
"With new products as well as sales and marketing strategies being trailed all the time, little useful research in the public domain and few resources to guide marketers at the forefront of the men's grooming explosion there's massive demand for a forum where the industry can exchange notes" says Rochelle Sommer of London based FC group.
And that's what Rochelle and her colleagues will be providing - May 2004 in New York. The event will offer industry executives the opportunity to discuss and debate the future of the men's grooming industry and how to profit from it.
Issues to be covered include:
- Strategies for local and global marketing initiatives
- New and effective ways to educate men on emerging products
- The impact of the Internet in distributing men's grooming products.
- Strategies for effective brand communication
If you would like to find out more or get involved in the debate contact Rochelle Sommer on 1 800 814 3459 ext 260 or email Rochelle@firstconf.com.