Sunday, April 8, 2012

Men, Why even they shop till they drop?

Economic Times reports that at least 40% of the shopping carts that are wheeled into the billing counter of Future's high-end food retail chain, Foodhall, have a man paying the bill. With multiple shoppers from a family, bill sizes are typically 25% higher than a single shopper. "Self service modern store with comfortable environment is luring more men into the stores," says Mall.

The rising footfalls of male shoppers can be gauged by looking at the ever increasing display space for male grooming products at shopping malls. Companies like Garnier and Emami are tapping the fast growing market. In 2009, Garnier entered the male grooming segment with Garnier Men. Within three months, it became the second largest player in the men's skin care market.

FMCG company Marico recently paid $100 million to acquire the male grooming products of Paras Brands from Reckitt Benckiser. Emami's Fair & Handsome, targeted at men, is growing at 23% and Emami's revenues from the product were `162 crore in 2011.

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