Things Are Disappearing Because Millennials Just Don’t Want To Pay For Them Anymore
Gillette Is No Longer the Best A Man Can Get
Hip, suave hairstyles might be the new norm but so too is the trend of, well, trendy beards. To save time, and in some cases, their wallet, young men are choosing to let their beards grow and thus ditch the razors.
This is a big problem for razor companies like Gillette because they had spent decades and millions, if not billions, to turn their business into a $3.39 industry by 2019. According to P&G CFO, sales of men’s shaving products have gone down by 11% over the past five years while the U.S. market has fallen from $2.4 billion to $2.2 billion between 2015 and 2018, according to Euromonitor.
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