The Quickest and Easiest Way Pharmacies can Double Their Health and Beauty Customer BaseIs 2021 The Year That The Men’s Beauty Market Goes Mainstream?Men’s interest in beauty has seen a spike in recent years. Research in the United States predicts the market will hit $166 billion by 2022, noting that men’s skincare sales have leaped 7% within the last year – and brands are listening. Now that Chanel, Tom Ford and Marc Jacobs have unveiled beauty collections specifically for the male customer, make-up designed for men is no longer niche. But, what about those in the Irish market?What’s the quickest way health and beauty brands can double their customer base? By marketing to men as well as women. While, historically, most growth in the beauty sector can be attributed to female-focused brands, unisex and men’s brands are betting on a sociocultural shift in their favour, partly spurred on by the impact of lockdown.The world’s first men’s make-up store opensForecasters credit this uptick to a growing awareness among men about personal grooming, rising demand for men’s skincare products worldwide. Increasing discretionary income boosts growth as well. Cleansers, face wash, and sunscreen are outselling shave-adjacent staples, demonstrating that male grooming moves beyond the fundamentals of fragrance and shaving.In the Western world, a mainstream attitude of the so-called ‘alpha’ male might still exist, but male-based beauty has been a mainstay in the Asian market for some time. Japanese beauty conglomerate Shiseido experienced double-digit growth throughout the pandemic on their males’ line Uno, which the firm ascribed to males becoming more image-conscious. Similarly, the men’s beauty market in China grew by 13.5% a year from 2016-19, according to Euromonitor – far higher than the 5.8% global average – with Chinese actor, singer, and dancer Jackson Yee recently named Armani Beauty’s new Global Makeup and Skincare Ambassador.Closer to home, a recent survey by YouGov revealed one in 20 men now routinely wear make-up, while British male cosmetics brand War Paint recently opened the world’s first men’s make-up store on London’s Carnaby Street.So, what’s mens groming worthHistorically, male grooming techniques have been around for a long time; the Egyptians used eyeliner; the Greeks were partial to eye creams and Roman men applied pigment to their nails and powder to their faces. This quickly stopped in the mid-1800s, when skincare, makeup and general grooming was relegated to one end of the spectrum – until now. The modern men’s grooming market is on the rise, according to data from Euromonitor International, with developing markets, including Brazil, India and China being fuelled by the impact of high-profile celebrities, as well as influencers and YouTubers challenging stereotypical gender norms. Online, YouTuber Patrick Simondac, popularly known as Patrick Starrr, is a significant trendsetter when it comes to male beauty, with many men and boys having contributed to the TikTok nail polish trend, sharing 30-second videos of nail art designs. While on the red carpet, Pharrell Williams, Harry Styles and David Beckham all remain candid about their skincare routines. ‘Alpha males’ are getting involved, too, as former Major League Baseball shortstop Alex Rodriguez has recently partnered with telehealth company Hims & Hers to launch the Blur Stick, a shade-inclusive men’s concealer. “My entire career, ever since I was a little kid, I’ve used a certain type of [product similar to] Blur Stick, which we call ‘eye black’ in baseball [grease applied under the eyes to reduce glare]. So for me, it was very natural to put a stick on my face,” says Rodriguez, now 46. “I thought it was a big opportunity, something that can work around the world. And something that can really work for many different age groups.”Globally, the market for men’s grooming products is valued at around US $57.7 billion as of 2017. This figure is expected to nearly double by 2023 as analysts predict a valuation of US $78.6 billion and a 5.3% CAGR. And with male-directed businesses getting smarter, that number could grow again. War Paint founder Danny Gray launched his men’s cosmetics brand in the UK in 2018 with a mission to “portray the idea that all men wear makeup”, building his marketing strategy around this concept. “We don’t teach about contouring or accentuating the jawline. It’s about evening out your skin tone, giving you a nice even finish to give you confidence,” Gray explains. The brand, which is stocked in Harvey Nichols and sold online through Mr Porter, includes foundation, concealer and bronzer. Gray is, too, a passionate believer in the importance of mental wellbeing, and given the recent uptick in ‘get men talking’ and Movember campaigns, he has linked this into his business strategy: providing barbershops, music and bespoke make-up machines into his bricks and mortar store on Carnaby Street. The boom in luxury groomingContrary to popular belief, a male-centric brand does not need to be exclusively masculine to win over male customers, with a number of industry heavyweights arguing that a unisex approach is more modern. SuperOrdinary has recently made an investment in Good Light, a genderless skincare line that has the tagline “Beauty beyond the binary”. The brand was launched as a partner to beauty website Very Good Light, created by editor and digital entrepreneur David Yi. Similarly, cosmetics line One/Size was founded by content creator Patrick Starrr with a philosophy that makeup is one size fits all. According to the brand, male-identifying customers comprise well over 20% of total sales. Bodycare line Nécessaire and skincare line Youth To The People have also both crafted strong unisex appeal through simple, pared-back packaging and gender-neutral language in their marketing. Chrome and clunky black packaging need not apply. The recent boom in luxury grooming and skincare products for men has paved the way for mainstream men’s make-up – moisturising foundation, bronzing gel, concealer and brow definer are not much of a psychological stretch for a man who already invests in premium skincare. The goal, it would appear, is to look well-groomed, rather than made-up. There is no Bowie-esque flamboyance from these brands, no incendiary political statements about inclusivity or diversity – and so far, there is no colour, it’s subtle.The leading financial advisor to the Irish community pharmacy sector and the leading pharmacy sales brokerage firm in Ireland. We at Fitzgerald Power are constantly and consistently reinventing retail accounting solutions so you can take better control of your store’s financial performance. Men, too, must take care of their skin. Though men’s and women’s skin differs in some respects, we all need to prevent acne, reduce inflammation, and deal with the signs of ageing. Speaking with your local pharmacist and GP will allow you to tackle these issues medically as well as aesthetically, given the wide range available at most independent pharmacies right now. Fitzgerald Power is the leading financial advisor to the Irish community pharmacy sector and the leading pharmacy sales brokerage firm in Ireland. Our exclusive pharmacy team are not just financial experts in this market but are passionate advocates and creative thought leaders helping to drive the sector forward. Check out our quarterly Pharmacy Pulse reports here today. Further Articles How to value a pharmacyThe flood of cheap capital over the past decade has seen enterprise valuations become… Read Blog How Irish retailers are doing globally – and how you can up your gameEven before COVID-19, it was becoming increasingly clear that physical shop-based retailing was struggling… Read Blog
