Millennials are killing the razor industry

News

Procter & Gamble is blaming millennial men who aren't shaving as much for the decline in men's shaving products.

(FOX NEWS) – Millennials are apparently killing razors as more men start embracing beards, manicuring mustaches, and abandoning the clean-shaven look.

It’s trend driving down the shaving product market in the US by 11 percent over the past five years.

This, according to research data from “EuroMonitor.”

Procter and Gamble recently reporting a reduction in the estimated value of their brand Gillette by eight-billion dollars.

Its CFO saying “lower shaving-frequency has reduced the size of the developed blades and razors market.”

It’s not just millennials refusing to shave which is hurting larger shaving brands.

Industry experts cite competition from newer shaving subscription companies offering cheaper products.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Video Forecast

More Forecast

Don't Miss