Razors and Replacement Cartridges Consumer Overview

Consumer Overview

Paramount Studies from 2009 showed that consumers purchased razors and replacement cartridges more frequently than they had in any year previously. In addition to the increased usage, recent trends have also shown that consumers are often pursuing innovative products with more cutting-edge technology.

Moreover, the growth of male-specific grooming products has skyrocketed in the past few years. With the media effect that attracts more attention on men’s grooming issues, men start to look for products that provide them with better quality of grooming experience. It is obvious that the sales of men-specific grooming products have increased as they become mainstream, making it easier for men to purchase them. It is therefore reasonable to believe that consumers in this industry are heavily influenced by the media on grooming issues. It would be profitable for Paramount to put more effort in advertising Clean Edge and make it a mainstream product that is easily accessible for shavers.

Product Market – Based on price and quality, the nondisposable razors and refill cartridge market is segmented into three groups: value, moderate, super-premium. While the moderate segment makes up the largest share of the market, the super-premium has been growing substantially throughout these days, suggesting that consumers become more conscious about the quality of razors and look for better shaving experience. If clean edge were to enter the market as a super-premium product for the first time, they have to spend much more money and time to capture a larger market share.[pic 1]

Consumer Market – As mentioned above, in terms of product benefits and consumer behaviour, the market can be segmented into three categories: social/emotional shavers, aesthetic shavers, maintenance shavers. We can see from the table below that the largest group of shavers is social/emotional shavers, suggesting that most shavers search for products on both functionality and messaging. Therefore, Clean Edge will likely be able to capture the largest market available for its experience-focused design.[pic 2]

...