Daily Facts - Day #37: Billion dollar niches - Shaving & hair removal
It may sound incredible or funny, but shaving and hair removal is a billion dollar business!
And I won't lie ...
For me it was a HUGE surprise!
But the numbers don't lie ...
According to BrandBuilders ...
- In 2017, the male grooming market was bigger than $22 billion.
- The market is evenly split between men and women, with both spending equal amounts.
- Nearly 27% of men in the world deal with problematic facial hair.
- Near 40% of all women in the world shave on a daily basis.
- One in four men between age 16 and 30 regularly change the look of their facial hair.
- Of 1,000 men surveyed, men between ages 20 and 29 spent at least $35 per month on grooming and shaving products.
As you can see, the shaving industry is massive, and should continue to have slight growth over the next 10 years.
And it's understandable after all ...
Every human on earth is a potential prospect for the hair removal market.
Nearly every woman in the world shaves some part of their body, and every man in the world shaves at least their face.
Which means that your options are nearly unlimited when it comes to figuring out smaller sub-niches inside of the larger shaving and hair removal industry.
The cherry on the top: the niche is very low impact, meaning that people aren’t going to spend days or weeks researching different products.
In plain English: they’re going to make a fairly quick purchase.
I'd say that sounds pretty good ...
Do you agree?