4 minute read
BLOG SPOT with Mat Braddy
Why are you forcing your customers to shop elsewhere for products they want to buy from you?
The men’s grooming market is growing at an astronomical rate and the humble barbershop is perfectly positioned to reap the benefits.
Driven by changing societal norms and increased awareness of the importance of self-care, men are spending more than ever on grooming products and services. This extends beyond the traditional offerings of a barbershop to include the likes of skincare and fragrances.
This shift in consumer behaviour has created a significant opportunity for barbershops to expand their offerings and create a new and significant revenue stream through retail.
Historically, barbershops have primarily relied on service revenue for profitability, with perhaps the odd jar of hair gel on a dusty shelf for sale.
You already have a shopfront, staff, and paying customers. All that’s left to do is to introduce a well-presented, dedicated retail space where your customers can browse for all their grooming needs.
Not only does a comprehensive retail offering increase profit, but it allows barbershops to enhance the customer experience. Think beyond a bit of styling product in the hair when you are done cutting; as a professional, you can arm your client with the tools and skills to recreate their hairstyle at home.
You can also introduce them to a skincare routine by offering these products as a service, and also on the shelf to purchase.
By providing clients with products that complement services and teaching clients how to use them, barbers can bolster their position as trusted experts, fostering loyalty and repeat business.
Barbers are in a unique position when it comes to retail. 100% of the people in the barber chair are there to spend money on themselves and their appearance.
By offering an array of products to cater for all of their grooming needs, your clients will always return to your barbershop when they need to look and feel their best, even between haircuts.
Your barbershop has the ability to be a one-stop shop for all things grooming products. A barber AND a shop, where your client can come for a haircut and a beard trim; and then take home a face wash or moisturiser, deodorant, body wash, shampoo, a shaving brush, or even a new fragrance. Your customers are already purchasing these items, just not from their barber.
Basically, there is the opportunity to have a secondary business under the one roof.
In addition to creating a new revenue stream and enhancing the customer experience, a well-thought-out retail offering can also attract more customers.
Stocking brands that suit your shop (whether that be the brand's aesthetic, or ethos) will not only be appealing to your existing customers but will help attract new clients in your target demographic too. This is particularly evident with the rise of social media platforms like Instagram and TikTok.
Showing off your skills as a barber is one thing, but sharing the personality of the shop, and partnering with brands that share your target audience is a powerful way to get new customers in the door.
So, it is important to think strategically and purposefully about the brands on your shelves. Choosing the right brands, and the right products to best suit your clients will ultimately lead to success.
By 2028, the global men’s grooming market is tipped to be worth $115 billion.
This is spread across many types of retailers – supermarkets, pharmacies, department stores etc. However, there is only one type of shop that has potential consumers literally forming a queue at the door. The barbershop.
Mat Braddy is the National Business Manager for Barber Brands International.
@mat_barberbrandsinternational
