Growth in male toiletries market in Russia
31 March 2014
According to a new Canadean report, Russia will see biggest growth in male toiletries market come from older men wishing to look good, quickly.
The value of the male toiletries market in Russia is set to rise from $892.6million in 2013 to $982million in 2017, an increase of just over 10.0%. This growth comes as older men are seeking convenient products for their increasingly busy lifestyles. Their motivation to find these time-saving products highlights the new-found concern with appearance, particularly in urban areas.
The desire to look healthy and stylish into later life is driving sales in multifunctional products such as post-shave cosmetics that offer SPF protection and moisturising properties to refresh ageing skin. Targeting the ‘time factor’ is a major key to success for marketers, with products meeting this need accounting for $211million in sales in 2013.Innovative products, especially those which combine innovative designs to cater for individual needs without taking up too much time will see the most growth.
Sam Allen, Analyst at Canadean says: ‘The increased availability of specialised, personal and innovative products, coupled with the busy lifestyle of the modern man, means that marketers should position products aimed towards older consumers as quick and easy-to-use. They should address specific and personal needs, as cost seems to be a secondary concern.’
The Canadean report finds that in terms of market by value share, disposable razors and blades are the largest category in the overall male Russian toiletries market at 63%. It also predicts that aftershaves and colognes and post-shave cosmetics will see the largest growth between 2013 and 2017. Men aged 55 years and over account for 37.4% of consumption for disposable razors and blades.
Small department stores are facing increased competition from larger chains who are offering premium and innovative products in-store. Hypermarkets and supermarkets dominate retail sales of male toiletries, with a value share of 52%, above the channel’s share of 33% across overall health and beauty, showing the decline of smaller and more specialist stores in this category. Saving time is important to Russian men, who prefer to purchase their toiletries while grocery shopping at the supermarket, rather than the specialist shops.
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