Shavers are indispensable personal grooming devices used to trim, cut, and remove unwanted or excess facial and body hair. They are available in both disposable and electric variants and provide convenience, ease of use, and skin-friendly solutions for hair removal. Both corded as well as cordless electric shavers deliver smooth, close shaves while reducing nicks and cuts. They offer long-lasting battery backup and various customizable settings for a comfortable shaving experience. The growing emphasis on personal grooming and appearance among both men and women has augmented the need for efficient, high-quality shavers.
Market Opportunity
Increasing Online Sales and E-commerce Penetration: Over the past few years, there has been a significant rise in the number of people shopping online. Easy availability of a wide variety of shavers from different brands on e-commerce platforms at competitive prices has boosted their sales through online channels. Extensive product information, reviews, and convenient payment and delivery options have augmented the popularity of online shopping for shavers among consumers. Leading brands are heavily promoting and marketing their shavers on both their own websites as well as popular online retail sites to capture this burgeoning online market. Therefore, the continuing growth of e-commerce and online shopping culture is expected to open up new avenues of growth for shavers market players during the forecast period.
Porter's Analysis
Threat of new entrants: The shaver industry faces moderate threat due to high capital requirement and presence of established brands. However, new technologies aid entry.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and price sensitivity. Varied product offerings aid bargaining.
Bargaining power of suppliers: Suppliers have moderate power due to concentration and differentiation in components. Innovation and collaboration enhance their position.
Threat of new substitutes: Threat from electric trimmers and non-electric options like disposables is moderate as each targets a segment. Innovation fuels options.
Competitive rivalry: Rivalry is high with global brands competing on quality, features and pricing. Marketing spends and brand loyalty characterize rivalry.
SWOT Analysis
Strength: Established brands, wide product ranges and technological expertise drive the market. Innovation aids functionality.
Weakness: Rising costs and economic slowdowns impact demand. Vulnerability to disruptions from new technologies and changing consumer preferences.
Opportunity: Emerging economies offer scope for penetration. Digital marketing tools increase outreach. Focus on personalized products boosts growth.
Threats: Trade conflicts and Covid-19 outbreak impact supply chains. Stringent regulations on waste management discourage usage.
Key Takeaways
The Global Shavers Market Growth is expected to witness high on account of rising disposable incomes in developing nations and increasing product innovations catering to specific consumer requirements.
North America is anticipated to be the fastest growing region over the forecast period driven by sustainable product development and increasing focus on personal grooming routines especially among men. Factors like product premiumization, subscription-based business models and customized offerings designed as per consumer feedback will fuel opportunities.
Key players operating in the shavers market are Fox-IT, Advenica, Owl Cyber Defense, AEP Networks, Waterfall Security Solutions, Nexor, Unisys Corporation, Siemens AG, BAE Systems plc, Thales Group, L3Harris Technologies, Inc., Airbus Defence and Space, Raytheon Technologies Corporation, Fortinet Inc., Palo Alto Networks, Inc. Innovation in battery life, blade coating and connectivity features are influencers for industry leaders amid the competitive landscape.
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