In many ways, millennials have adapted to a more laid-back and casual lifestyle. For a lot of millennial men, that means sporting a beard or a little facial hair, which had once been considered unprofessional in the workplace. The acceptance of facial hair, however, has hurt the sales of shaving brands, such as Gilette.
In order to maintain the company’s success, Gilette has previously had to reduce the price of their products by 12% and promote products that cater to men who want to keep their facial hair, like beard trimmers. Gilette ran a study that proved that the number of times young men shaved has dropped from 3.7% to 3.2% in the past decade, resulting in sales in the shaving industry dropping 5.1%.