Razor sales have fallen 5.1% this past year as beards become cool again

Razor companies like Gillette are feeling the burn after razor sales decline 5.1% in hipster America.


August 10, 2018

CNN Money reports that, apparently, the beard era isn’t as ‘2015’ as we all thought — and it could mean some itchy times ahead for the razor industry.

According to Gillette, studies show that the average number of times men shave per week has fallen from 3.7 to 3.2 over the last decade, resulting in a 5.1% year-over-year sales drop by June 2018.

The days of razor burn are over

Consumer research shows that the once professionally taboo look is now  more accepted around the office, unleashing a pandora’s box of bushy-bearded businessmen across boardrooms everywhere.

Most popular in men under 45, beards are no longer “considered lazy or disrespectful,” the vice president of Gillette North America told CNN.

Now, razor makers are scrambling to adjust

Gillette reportedly staged an “intervention” last year, shaving prices by an average 12% and pushing facial-hair-maintenance tools like a beard trimmer (not shaver, they’re different).

This has helped Gillette trim their sales declines as they fight off more affordable disruptors like Dollar Shave Club and Harry’s, who in February raised $112m to move grow beyond the shaving industry.

Daily briefings, straight to your inbox

Business and tech news in 5 minutes or less

Join over 1 million people who read The Hustle

Psst

How'd Bezos build a billion dollar empire?

In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year.

Data shows where markets are headed.

And that’s why we built Trends — to show you up-and-coming market opportunities about to explode. Interested?

Join us, it's free.

Look, you came to this site because you saw something cool. But here’s the deal. This site is actually a daily email that covers the important news in business, tech, and culture.

So, if you like what you’re reading, give the email a try.