Brazil’s fast growing economy is driving a fundamental change in the male toiletries market, according to a market report by Canadean.
Canadean's report claims the rapidly growing Brazilian economy will present manufacturers and retailers with excellent opportunities in the male toiletries market. Among these are the potential to target time-pressed, image conscious men who are looking to hypermarkets and supermarkets for a broader range of shaving products.
Kirsty Nolan, Canadean Analyst, said: “Manufacturers need to invest in further product innovation in order to meet consumers’ developing needs, stemming from changing fashions and workplace pressures. Innovations to combine the uses of products, for example hair removal and moisturising qualities combined, will meet customer demands for convenience as they save time.”
Canadean cites a shift in the market to include pre and post shave cosmetics, as well as products purely for shaving. It recognises the companies already capitalising on this opportunity and mentions Nivea's Nivea For Men Cool Kick 2 in 1 - a facial cleanser which also doubles as a shaving gel.
The report highlights the increasing market share of the aftershaves and colognes category as it responds to consumers’ broadening needs, saying that this demonstrates how consumers are seeking quality products to uphold their workplace image and affirm their social standing. There is potential here for international companies seeking additional export revenue as well as existing fragrance companies, says Canadean.
In Brazil, more than 40% of male toiletries are sold in hypermarkets (a superstore combining a supermarket and a department store) and supermarkets. Between 2009 and 2012 male toiletries sales in hypermarkets and supermarkets grew by almost BRL450 million, reports Canadean. This can be explained by the finding that three quarters of men who use male toiletries in Brazil have less than three hours of leisure time a day - commonly the result of busy lifestyles and pressured jobs. It is therefore convenient for these consumers to combine their grocery and health and beauty shopping.
The report points out the importance for manufacturers to invest in promotions and shelf space throughout major hypermarket and supermarket chains to increase both sales and brand awareness.
More information on Market Focus: Trends and Developments in the Male Toiletries Sector in Brazil can be found at www.canadean.com.