With more men growing their beard out, naturally the demand for razors have gone down the last years. The price of razor blades has doubled in less than a decade as the growing trend for beards hits the sector.
Manufacturing giant Gillette cut the number of replacement cartridges in its Mach3 Turbo packs from five to four.
Yet the company’s smaller pack has jumped from £5 to £10 in just nine years.
Ben Hanson, from analysts Nielsen, said: “Male grooming is a sector that has suffered due to the trend towards beards and flexible working. Men shave less frequently.”Gillette’s replacement razor cartridges are so expensive they are the high street’s most shoplifted products. But industry insiders insist they cost no more than 10p per cartridge to produce.
Martyn James, of consumer complaints site Resolver, said: “Razor blades are amongst the most stolen items because they’re so overpriced some resort to desperate measures.
“Stealing is wrong, of course, but so is ripping off customers.”
So it seems, the era of the beard has continued in 2018 and it could be bad news for the razor industry.
The rise of the laid-back approach to shaving, most popular among men under the age of 45, is causing some serious problems and strategic readjustments in the razor industry, CNN's Nathaniel Meyersohn reports.
"Today, men are not judged negatively when they skip a shave — it is not considered lazy or disrespectful," Massimiliano Menozzi, the vice president of Gilette North America, told the broadcaster.
The firm said studies show that the average number of times men shave per month has fallen from 3.7 to 3.2 over the last decade. That is resulting in some actual problems in the razor industry, with sales falling 5.1 per cent by June 2018 compared to the year prior.
As a result razor makers are scrambling to adjust.
Gillette staged an "intervention" last year, slashing prices by an average of 12 per cent and pushing facial-hair-maintenance tools like a beard trimmer. Edgewell, the parent company of brands like Edge, Schick, and Personna, is pushing e-commerce and relaunching its Schick Hydro brand in October. Razor start-up Harry's raised $112m (£87m) in a round of financing earlier this year to move beyond men's grooming.