THE STIGMA associated with male grooming has finally disappeared, and the male UK skincare market is worth an estimated £700m. As an image-conscious man in my thirties, I invest in grooming and anti-ageing products.
• The beauty industry is flourishing and, at the same time, draining people’s bank accounts. Beauty products, cosmetics, and services are significant, with consumers spending an average of £1,400 per year on related purchases. This increases with younger generations, reaching an average of £2,200 for millennials and £2,000 for Gen Zers. Most of this spending is on skin (30%) and hair (30%) care across generations.
•Vanity has a cost, and it’s leading to overspending. Although 93% of survey respondents regard their appearance, younger generations may place too much emphasis on it. While 33% of customers have regretted overspending on beauty goods, 52% of Gen Zers and 40% of millennials have. Furthermore, 27% of both generations are in debt as a result.
• 52% of millennials and 50% of Gen Zers said they would consider cutting back on other expenses to spend more on beauty items. More than four in ten (46%) say that social media has caused them to spend more money on beauty items than they would have otherwise, with 67% of millennials and 64% of Gen Zers agreeing.
• These generations are likewise drawn to high-end luxury goods. 65% of millennials and 55% of Gen Zers said they would spend extra money on these things, exceeding 48% of all customers.
A recent survey shows a steady increase in male grooming spending habits. ‘In your teens, grooming consists of a splash of water with a hint of soap – if you’re lucky. Introducing electric shavers and spot treatment products in your mid-late twenties means a definite increase in spending.
But it all changes when you hit your 30s when the focus shifts to products that maintain and prevent, and money is no object. The spending cycle declines at 50, almost returning to the amount spent in your 20s as grooming takes a back seat and is seen as less of a priority and more of a necessity.
Thirty-something men invest more in beauty products than any other age group, spending three times more on anti-ageing beauty and indulgent treatments than going to the gym.
Research reveals they spend more on male grooming products than those in their 20s and 50s combined.
The average 30-something man spends over £100 per month on grooming, three times as much as a standard gym membership.
Of the 1,000 British men surveyed, those aged between 20-29 spent on average £35 per month on grooming products.
The figure doubled for males in their 40s, who spent an impressive £70, while those in their 50s seemed to have a more relaxed approach to male grooming at around £45 per month.
The survey also revealed that men in their 30s were willing to spend up to £50 on a moisturiser and up to £40 on wrinkle-busting eye creams. I recently collaborated with Selfridges to launch my cologne, Pierre 47, as I see myself as a role model for men who want to live healthier, longer lives and look and smell good.
Meta-Age is what we want, and we are willing to put in the time and effort to ensure we won’t have the chronic illnesses that our parent’s generations have in old age.
