PRESS RELEASES - GLOBAL PROFESSIONAL BEAUTY MARKET
GSP 1999 THE GLOBAL MEN'S HAIRCARE MARKET
Diagonal Reports' Global Salon Panel (1998) interviewed experts representing 57 million salon visits in 12 countries. This survey reviewed haircare trends, evaluated demand for services and products, and assessed company and brand performance. Our research identified a consumer segment with important growth potential - the men's haircare market.
Demand for men's haircare products and services is growing fast. In a generally stagnant market, the men's category is increasing at rates of up to 40% a year. Men are now important users of salon services, they can account for up to 35% of a salon's business.
Men of all ages feel they need to present a well-groomed image for the work-place. However, two consumer segments fuel growth Younger men between the ages of 20 and 30, and also older professional men. Men are becoming more image-conscious. They are willing to experiment with complex styles and cuts. More men over 35 now visit salons. This use, particularly by greying "baby-boomers" is driven by the desire to look younger.
In a clear break with past habits, men now need more than the basic wash and cut services. Demand for colouring services is very strong and growing. Men's use of colouring services can exceed that of women. In some US salons in 1998 some 70% of male clients used colouring services, compared to 40% of women
Men are good news for the hair and personal care industry. They are less price-conscious and will pay more for services and products than women. Furthermore while women are visiting salons less frequently than in the past, men now visit more frequently, often on a monthly basis.
Worldwide, men present a large, untapped market with a huge growth potential. Companies can benefit from this. There is an unsatisfied demand for more "masculine" ranges of haircare products. Repackaging products as "masculine". would boost sales. Men generally do not want to use the existing product ranges which have been formulated and designed for women.
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Vol. 2.No. 3. MCMXCIX Copyright © 1999 Diagonal Reports Ltd.