NPD Group: Men’s grooming tools are hot this holiday
NEW YORK — Men’s grooming tools are all the buzz this holiday as men’s grooming appliances purchased for the holidays gained 34%, now representing 12% of dollar sales for the year, according to the NPD Group.
“Today, men’s grooming trends get almost as much Hollywood buzz as women’s hairstyles and red carpet fashion,” stated Debra Mednick, executive director of the NPD Group’s home business. “Whether it is a perfectly manicured mustache, a smooth shave or just a daily grooming ritual, men are tending to themselves more and more.”
Men’s grooming appliances include men’s electric shavers, facial trimmers, home hair clippers, pen trimmers, body groomers and nose/ear trimmers.
The NPD Group found, in the 12 months ended Oct. 12, that:
Dollar sales of men’s grooming appliances increased by 5%. Eighteen percent of men’s grooming dollars came from gift purchases, and these gift purchases increased 36% compared to last year;
Men’s grooming appliances purchased for the holidays gained 34%, now representing 12% of dollar sales for the year;
Online sales of men’s grooming appliances grew 29%, representing 15% of dollar sales this past year;
Males account for 60% of sales, but female purchases of men’s grooming appliances increased 20%; and
25- to 34-year-olds and 45- to 54-year-olds each purchased 20% of units sold . Pen trimmers saw the largest growth, up 28% in both units and dollars.
Regarding Black Friday and Cyber Monday performance:
Compared with last year, men’s grooming appliance sales experienced a decline during the 2012 Black Friday week, but got a slight boost the week of Cyber Monday with a 2% increase in dollar sales;
Pen trimmers got the largest boost during both Black Friday and Cyber Monday weeks, with significant double-digit increases in both units and dollars;
Cyber Monday was most important for the men’s shaver business; and
Men’s electric shavers experienced more than a 5% increase in dollar sales during Cyber Monday week, but declined in sales during Black Friday week.
Avon to cut jobs, exit two markets as part of cost-savings plan
NEW YORK — Avon, a direct seller of beauty products, has outlined initial steps toward its previously announced cost-savings initiative, which includes the reduction of about 1,500 global jobs.
The company also announced that it will exit the South Korea and Vietnam markets. These actions are aimed at concentrating resources on high-priority markets and activities and boosting efficiencies, and are expected to be largely completed before the end of 2013, the company stated.
The moves mark the initial steps of its annual cost-savings target of $400 million by the end of 2015.
Cost to implement these actions is expected to be in the range of $80 million to $90 million before taxes, of which approximately $50 million to $60 million is expected to be recorded in the fourth quarter of 2012. The company anticipates that these initial steps will account for approximately 20% of the total targeted savings.
"In order to turn around the business, we are focused on driving top-line growth and aggressively managing our cost base," stated Sheri McCoy, CEO of Avon. "The decisions outlined today are necessary to stabilize the company and begin the process of returning Avon to sustainable growth."
The company stated that it expects to announce additional steps toward the cost-savings goal as it progresses.
NeoStrata’s new Age Reverse HydraFirm promises to lift, firm and hydrate skin
PRINCETON, N.J. — NeoStrata, the creator of the original lunchtime glycolic acid peel, has unveiled its new Exuviance Age Reverse HydraFirm, which targets all visible signs of aging and rehydrates the skin at deep levels so skin looks and feels younger.
For skin that needs active moisture and multiple anti-aging benefits, Age Reverse HydraFirm offers a formula to deliver both. The cream is designed to target all visible signs of aging — e.g., poor texture, discoloration, loss of firmness and wrinkles — and replenishes hydration levels to transform skin.
Exuviance Age Reverse HydraFirm, priced at $72, will be available nationwide in March 2013 at Ulta Beauty, select prestige beauty retailers and online at Exuviance.com.