NEW YORK— Female consumers seeking products to meet their personal care needs are most likely to purchase a shaver/hair remover or a hair dryer in the coming year, according to the recent HOMEWORLD BUSINESS® Forecast consumer survey conducted by The NPD Group.
In the survey, 60.2% of female respondents said they were most likely to purchase a shaver/hair remover in the coming 12 months, while 58.5% said they are likely to purchase a hair dryer in the coming year. Respondents were allowed to choose up to three personal care products they felt they would likely purchase in 2020.
When breaking down the purchase likelihood of these two products by age group, the numbers provide retailers with insight into selling and marketing opportunities.
The survey found that women age 55 and over are more likely to purchase a shaver/hair remover and hair dryer in the coming year; 37.5% in the shaver/hair remover category; and 46.2% in the hair dryer category. On the opposite side of the age spectrum, women age 18-24 were much less likely to purchase both products next year; 13.3% in the shaver/hair remover category and 9.5% in the hair dryer category.
With older consumers showing a greater awareness of both personal care product categories, the figures also show that more work may need to be done by retailers and product suppliers to educate consumers about the benefits of owning a shaver/hair removal product and/or a hair dryer.
From the standpoint of price, female consumers across all age groups were clear in sharing what they are willing to spend for a shaver/hair remover. Overall, 80.7% of survey respondents said they expect to spend $29.99 or less for a shaver/hair remover. The most notable exception is with female consumers age 35-44, with 16.2% of respondents in this age group saying they are willing to pay $50-$99.99 for an item in the category.
The pricepoint expectation in hair dryers is more spread out than shavers/hair removers. In the survey, 41% of female respondents said they expect to pay $10 to $29.99 for a new hair dryer while 31.8% said they expect to pay $30-$59.99 for a new item.