There are hundreds of shaver models on the market, made by about a half dozen major shaver manufacturers. That’s a lot of competition for something that a man or women buys only once every two or three years. There’s also competition from brands that offer safety razor blades or disposable razors. Even if a consumer can narrow down their choice to rotary, foil, or traditional razor blade, there are still many products on the market to choose from.
The global shaver market is still controlled by a few key players. Shavers aren’t something the average person needs to buy every day, such as food, cleansers, or cosmetics. These market leaders make most of the profits from personal shavers. You may not be familiar with their company names, but you will know their brand names.
These key players include Spectrum Brands Holdings Inc. which owns Remington, Panasonic Corp, and Philips. You may be curious how these brands have managed to stay on top of the market, with a few other contenders providing some good competition. This is because these companies continue to innovate on new and exciting products. They have development departments to create the next best electric shaver, rather than rehashing the same old models or shaver plans. Improvements help to respond to consumer demand.
Today’s consumers want their personal care products to not only be attractive, but to perform well. They want their personal appliances to be filled with plenty of amazing features, even if they don’t use them all. They also want bragging power for when they chat to friends about new technology.
Many smaller and newer shaver brands may fail on the market. They simply lack the resources to continue to innovate on new products. Consumers want the latest gadget, and they want improved features with every new men’s or women’s shaver that they purchase.
A report done by the Transparency Market Research backs up these claims. While there are cheap and basic shavers you can buy for $20, most consumers can’t be tricked into buying them. No warranty, only basic features, and cheap workmanship is not the way for a new shaver manufacturer to enter the market with all these tech-savvy consumers here today.
Some other companies that have a good place in today’s shaver market also include Energizer Holdings Inc., Super-Max Group, Conair Corp., Wahl Clipper Corp., and Procter & Gamble Co.
In the TMR report it’s expected that the global shavers market will continue to expand at a moderate pace. It’s estimated by the year 2024 that the market will be worth US$70.24 billion. That means that all of these top shaver companies are going to be fighting to keep their share, and perhaps grab some of their competitor’s market share too.
Non-electric shavers are gaining interest in the consumer market. These shavers may run on disposable batteries. Some people think it’s due to their user friendliness and how they can be used anywhere, such as out in the wilderness, when camping, or in hotel rooms with few outlets.
But electric shavers will also be experiencing a higher demand from the market too. This is because many people are realizing that today’s rechargeable shavers are much better than the ones from last century, and are willing to take a second look. And not only in power usage, but also in actual performance.
Even though women use shavers too, men will still be the major consumers in this market.
As for distribution channels, shavers will continue to be sold online, in local big box stores, in pharmacies, and in supermarkets.
Europe seems to have one of the biggest growing regional market in the world. They’re also one of the highest regional sources of revenue for the major shaver companies listed above. Women in Europe are also becoming an important part of the shaver market segment. Perhaps some of this is through the growing awareness that personal grooming is important. Shaver companies may focus on this aspect for their marketing and advertising campaigns in the future.
Focussing on the importance of personal grooming will benefit other markets too, including Asia Pacific and Latin America.
People around the world are experiencing better hygiene and health thanks to the efforts of governments and community. Now that the world is connected through TV and the internet, people are demanding what the rest of the world has. They’re seeing how well other people live, and they want to also have a clean and perfect appearance. Perhaps one of the simplest ways is to have clean water in a town, and a small cordless shaver to keep the face looking fresh and clean. The developing nations of Latin America and Asia Pacific will benefit from the growing shaver market.
This demand in smaller countries has contributed greatly for the growing shaver market. Many people recognize that removing facial or body hair is essential for finding a good job, starting a new business, or even in attracting a future spouse.
Perhaps the main marketing tactic by shaver companies is that they will help a man or a woman to maintain an attractive and well-groomed appearance. The second tactic involves comfort, as a cordless shaver won’t nick or cut the skin like traditional razor blades can.
Buying shavers has never been easier. They’re available in local shops, they can be ordered through catalogues, and they can be ordered online. This ready availability is fuelling the market and making it grow.
While there are certain parts of the world that struggle to have fresh water, good food, and good healthcare, these smaller markets will have a lesser impact.
Not only are electric shavers a cool product that can help us to look better, but they’re accessible by every country in the world who has a good mail or courier delivery system in place. Every man and women can access to the best shaver technology that will help them to look their best, and may just give them the edge they need to succeed in our hectic and crowded world.