On December 25, GfK China announced there is a new trend of the men’s electric shaver market.
According to the retail monitoring data, the retail sales of men’s electric shaver market in 2017 increased by 15.3% year-on-year and the retail volume increased by 7.3%. In particular, the online performance is more prominent. The retail sales of the online market in 2017 increased by 26.2% year-on-year, and the retail volume increased by 12.8%.
Due to the rapid growth in this field, more and more manufacturers have seen the potential of the razor market and have entered this market. According to the sales monitoring data of GfK China, in the first three quarters of 2018, the number of new online brands increased by 188% year-on-year, while the number of new online models only increased by 10%.
Gizchina News of the week
At present, more online platforms and the emergence of e-commerce festivals continue to guide consumers to the habit of shopping online, resulting in the annual sales volume of the razor market decreasing year by year. But we should also note the user experience is very important for consumers to purchase products.
Therefore, when consumers choose medium and high price products, they prefer offline purchases that allow them to personally experience the product and choose products that meet their own needs and shaving habits. According to the sales monitoring data of Gfk, in the first three quarters of 2018, the retail sales of the offline market greater than 1,000 yuan ($145) exceeded 40% of the overall offline market, while the online market retail sales of more than 1,000 yuan only accounts for 10% of the overall line.