Reignited by the moustache-friendly Movember movement and since given rockstar status by hipsters, celebrities, and men under 40, men’s desire to grow and maintain facial hair is becoming a potentially lucrative market for salons and barbers to provide regular grooming and specialized products.
The global market for men’s grooming items is projected to exceed $33 billion this year, according to Global Industry Analysts. Several brands, including Tom Ford, Beardbrand, and Billy Jealousy, cater to caring for beards.
While the shift from clean-shaven to sculpted facial hair has conspired against giant razor-and-blade makers the likes of Gillette, hairy faces have been a boon for salons and barber shop operators.
According to First Research, the US hair care services industry includes about 80,000 establishments (comprising 76,000 beauty salons and 4,000 barber shops). Altogether, they have a combined annual revenue of about $20 billion. The popularity of beards and moustaches is sure to spur sales growth in the industry.
The revered beard, in particular, gives hair care services providers the opportunity to expand their menu of services and stock specialized products.
Usually women are the more coveted clientele because their styles cost more and take more time. Securing male clients with elaborate beards and moustaches that require regular trimming and shaping allows stylists to charge men more.
Salons and barber shops that work to market facial hair care services stand to further expand their businesses. The larger global hair care industry, including hair restoration as well as hair care services, generates annual revenue of about $160 billion, according to Regis Corporation.
Industry Impact — Hair care services providers may be able to win new business by marketing to men with facial hair through “Best Beard” contests and discounts on the most popular beard oils and mustache waxes.
Tracking the moves of consumer products makers since 2003, Catherine Colbert is a company insights writer and blogger. Before covering companies, she spent ample time in magazine publishing, technical writing, ad copywriting, medical writing, and marketing. Follow her on Twitter.