GlobalData, a market research provider, says that currently, there’s a gap in the market for brands that can offer environmentally-conscious efforts that also meet a high bar for performance.
“This gap exists in many consumer categories, including male grooming, and the appeal of purchasing a responsible product for just slightly more than a traditional one is significant,” the firm explains.
“In 2016 alone, 35% of consumers globally agreed they would be willing to buy luxury products if they were environmentally-friendly, according to GlobalData’s primary consumer research.”
Expert voice: Jamie Mills, Senior Consumer Analyst at GlobalData
The firm’s analyst, Jamie Mills, explains how this trend maps specifically onto male grooming.
“For brands operating in male grooming and the wider personal care space, this creates new challenges as the war on single-use plastics continues to gain traction. While much media attention has focused on the impact of food and drink packaging, personal care products face similar packaging challenges from a sustainability perspective,” she says.
“The pressure is on for these brands to showcase their proactivity and awareness of the issue in their own product ranges and innovate accordingly to provide more responsible eco-friendly solutions.
“On the other hand, this also creates an opportunity for brands to take advantage of the media spotlight on plastic packaging, and in turn provide innovative offerings which can tackle the issue.”
Again, the analyst confirms that brands that are able to meet the dual demand of eco-awareness and high product quality will win out in this area.
“More importantly, this can offer an angle to premiumize and deliver additional value through the product offering by being both environmentally-conscious but also providing superior performance.”
