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Mens' Craze for Cosmetic Products Has Eroded Family Budget

by VR Sreeraman on August 10, 2007 at 8:16 PM
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Mens' Craze for Cosmetic Products Has Eroded Family Budget

A rising craze among men to use cosmetic products has boosted their expenditure by as much as 20 percent and is contributing to a greater erosion of the family budget, said a recent survey conducted by Associated Chambers of Commerce & Industry of India (Assocham).

The survey, which interviewed 5,000 consumers, said that an increase in cosmetics usage by men, as compared to women, has boosted their expenditure by 18-20 percent, increasing the monthly expenditure of the family in turn.

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In comparison to less than Rs.1,000 per month in 2000, the expenditure is now more than Rs.2,500 per month in more than half of India's families, thanks to the money spent on cosmetics, apparel and mobile phone bills.

The survey found that among more than 65 percent teenagers, branded cosmetics consumption has gone up by 30 percent in the last seven years.

Fifty-eight percent of youth said that their expenses on cosmetics had increased by 25 percent while 57 percent people in the upper middle age group claimed that their expenditure had increased by 22 percent.
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One of the reasons cited for higher expenditure was increased participation of women in the employment basket and more awareness about various products.

Secondly, massive advertisements, both in electronics and print media, have influenced the customers in this segment so that they were led to spending more for these articles.

Venugopal N. Dhoot, president of Assocham, said male consumers tend to spend more on cosmetics, that is Rs.300-500 per month, when compared to females mainly due to the demand for men's hair care, deodorants, razors and blades.

Also 75 percent of male consumers frequently change their mobile handset twice or thrice in a month. So their expenditure on mobile phones is much higher than females.

More men in India are becoming conscious about the way they look and are increasingly spending on grooming products to spruce up their physical appearance. This newfound male grooming consciousness is encouraged by men's active participation in prominent fashion shows and beauty pageants exclusively for men.

Source: IANS
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