In the last five years alone the sale of men’s beauty products have increased by about 20%as researchers have found that men are becoming much more interested in eye creams, moisturisers, facial wipes, masks, and more. Mintel, the market research group found that men’s grooming products now account for a £58m market. The rise of the metrosexual is also being credited for the increase in interest shown from men in the beauty market.
It appears that men may be cutting and trimming their budget due to the poor economic conditions, but apparently they are not willing to make any sacrifices when it comes to looking good. In the past five years facial skincare products have increased in sales by 20% and prestige products have seen an even larger jump in sales.
Mintel found that about 42% of all men use moisturiser and that facial cleanser is used regularly by another 22% of British men. About a quarter of all men use lip balm and another 16% reported that they use facial wipes. In addition, about seven percent of all men use gels, eye cream, face peels, and face masks. Another eight percent stated that they also use anti-ageing products.
Mintel analyst Charlotte Libby stated that prestige products have benefited greatly from the ‘Lipstick Effect’ which she explains has allowed sales of beauty products to stay strong even thought eh economy is down because customers view these products as their little treats. In fact, products that are considered to be top of the range have increased in sales by about ten percent as people choose the best items for their ‘treat.’
One more interesting titbit from the survey is that women are more sceptical about beauty product claims as 52% of all women doubt claims made by skincare products whereas only 32% of men do.