With more men becoming conscious of the importance of skincare, how is this impacting their buying habits, and the way men are being marketed to?
The Australian Financial Review (AFR) published an article in September 2015 that shared some insights into selling skin products to men. The article focuses less on selling, but more on what men are looking at in regards to skincare, and highlights some great advice when marketing to men. Especially Australian men. The article reinforces that men do want to look good and provides a list of items that the author believes is what men are looking for. From the article:
What Men Want
- Men’s products need to be multi-taskers. While there are men who are just as obsessed with new products and grooming in general there are also men who would prefer to have one product that does four different jobs, according to Molton Brown.
- Men prefer lightweight, fresh-smelling products that disappear into the skin, leaving no residue, says Turner. “They like simple routines and products that are quick and easy to apply.”
- They are results-orientated, not necessarily price-driven.
- Because they have thicker, oilier skin so formulations need to be a bit different in order to effectively penetrate the skin, says Olsen. “I think a masculine scent (or no scent at all) is important” (Source: AFR).
The take-away from this is: simple, effective, results-oriented products work with men. Rodan+Fields is a great example of how smart marketing of their products will be successful with men and has positioned itself as a market-leader providing simple, effective and results-oriented skincare for men and women.
That being said, what about the dollars that relate to the men’s grooming market? If more men are concerned about their skincare, what is being projected on how this will impact the market in the years to come?
Over at RACKED.COM, in 2014 they published an article that discussed the psychology of selling skincare to men. The article shares that the male grooming market was valued at $6 billion in the U.S. (now $6.3 billion via Euromonitor) alone. Based on data from statista.com, it is estimated that at the end of 2015 the size of the global male grooming market was valued at $20.3 billion (USD). Statista goes one to forecast the growth of this market through 2020 where it estimates the size will be $26.6 billion (a growth of 31%).
The data supports that there is a growth in the male grooming market, and for anyone who has products that can be marketed to men there is a big opportunity here. I hope that Rodan+Fields will be leading the way in this emerging market, and hope that you will join me.