Procter & Gamble blamed an $8 billion loss on bearded Millennials. As workplace dress and grooming codes relax, the modern man is shaving less often. Pairing that with the rise of competing razor subscription services like Unilever’s Dollar Shave Club and Harry’s helps explain the slow 4% quarterly growth of P&G’s grooming category. Gillette’s VP explained the social norms slowing razor sales: “Today, men are not judged negatively when they skip a shave—it is not considered lazy or disrespectful.” (Quartz)
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