Razor Industry Suffers Profit Lose Thanks To Beards
Movember & No Shave November are all apart of men raising awareness for various charitable causes throughout the month of November. I took park in this and found myself keeping my beard. A lot of guys are apparently with me in this as the razor industry are seeing a decline in sales; as much as a 15.5% decrease since last year.
Procter & Gamble have reported the lose and claim that it was due to the recent boom in men growing mustache and beards. However, they believe popularity of body-shaving will offset the lose. (Side note: whole body shaving – when did this become a thing?)
While the incidence of facial shaving is somewhat down, the incidence of body shaving is up, and we can take advantage of that and plan to do that as well. - Jon Moeller, Chief financial officer Procter & Gamble
So while you new found facial hair is healthy for your face, it’s not so much for the wealth of the companies making the products you once used.