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May, 04 2015

Who will drive the beauty & wellness market in 2015-2016? Men, elderly & kids

SHE has been ruling the beauty world, but, HE also spends a similar amount of money as she does for his beauty grooming. Whether it's Men, the Elderly or the Kids, Salon chains are leaving no stone unturned to satisfy the emerging or new-age consumers of

With the changing lifestyles, the consumer league for beauty industry is evolving. Salon and cosmetic brands in the urban market especially are inventing new strategies and are innovating new products and services to satisfy this emerging consumer and i.e men, elderly and kids. Let's take a glance at the key factors that have lead to these winds of change.

According to recent reports, the Indian male grooming market will reach Rs 500 crore by the next year.  As per a Nielsen study the Indian men's grooming market has grown more than 34%. This growth is faster than the growth rate of the total personal care and beauty industry in India. The market stands at about $278 million.

He’s the trend in the salon now
Commenting on the new-age consumer market, Istayak Ansari, Director of Lloyds Luxuries Ltd, says, “The salon industry in India is at a growth stage. With the market maturing over the next few years the industry and beauty market will see the emergence of specialty salons. The specialty concepts which are fast catching up in the US and European centuries are Blow Dry Bars, Nail Bar, Waxing Centre, Salon Suites and Studios and specialised kids salon for an age group of one year to 14 years. The nail bar concept is already getting popular in India followed by kids' salon. Truefitt and Hill has made an entry in the premium men's only segment. The ratio of male to female client across unisex salon is 20:80 in India. Most of the men prefer to go to the neighbourhood barbershops which they have been visiting since their childhood.”

Age, no bar
Adding to this, Vandana Sundra, Master Franchisee (Pan-India) of Hungarian brand Eminence Organics Skincare, which has been supplying organic products for last ten years, opines, “Senior citizen, men and kids have become conscious of their well-being and looks, and daily beauty and grooming regime are now applicable to this category as well. Consumer awareness and availability of branded products are also helping growth in this category.”
Gym and wellness centres too get an increased number of new-age clients like kids and aged consumers other than the basic men category. “There is a growing awareness for people in all categories including the metro sexual male and the new-age kids. This market is only growing and in due course, wellness will occupy all community profiles as people, as they grow older would like to look younger with new age products,” comments G Ramachandran, Promoter and Director, Gold's Gym India.

Growing business percentage
The market for new-age consumers is growing by the day with more and more awareness and zeal to look good in today's world.

Istayak Ansari says, “We are a men's only barbershop catering to male client only. Truefitt and Hill is known for its signature services worldwide and also has a huge range of men's grooming products. Truefitt and Hill has one of the largest range of men's grooming product in India with over 132 SKUs. Unlike unisex salons where product revenue is 10 % to 15 % of total revenue. Truefitt and Hill (T&H) products account for nearly 50 % of the total store sales.”
Likewise Eminence Organics Skincare states it draws 30% of the salon revenue from men and kids category while Gold's Gym business constitutes about 50% from men, 10 % from senior citizens and 10% from kids segment. The home-grown and foreign franchise brands say the new-age consumer is growing at a fast pace and is bound to see more share in the market in future.

“Today men and kids are conscious of their grooming and want to look good. They love their hairstyling, manicure, pedicure and facials,” Vandana Sundra comments on the kind of service this category takes.
While at Gold's Gym, new-age consumer goes for “new-fun loving activities like Zumba classes, high frequency interval training orientation classes are catching the attention
of these people.”

The key factors
= “Male grooming is one of the fastest growing segments,”
= The nascent men's personal care and grooming market is just 8% of the overall $10 billion (Rs.61,000 crore) personal care market in India
= However, men are quickly adapting to skin care products more broadly. For instance, for Kiehl's, which is owned by the L'Oreal Group, men account for 20% of overall sales in India, which is higher than the global average of 15% of overall global sales coming from men for the brand, who finds that the Indian urban male is aware of the brand and ready to adapt to skin care regimes.
= Rising elderly population and their increasing keenness for skin care
= “Women, on the other hand, are more worried about reactions from cosmetics, make-up and fragrances. However, this is slowly changing. “The growing urbanisation and becoming a part of the workforce is driving them to adapt to the category,”
= More than 25% growth every year in the skin care industry
= Facial skin care products have become an essential part of the beauty market
= Gradual adoption of the western culture

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