Shaver Shop‘s CEO says sales will rebound once the bans in Australia and New Zealand are lifted. He says that consumers are starting to look after their hair once they’re done with the long hair.
Cameron Fox says the latest round of lockdowns is starting to replicate the patterns that led to the rise of online sales during the previous rounds.
It’s similar to the buying behaviour that occurred during the national lockdown in 2019.
In normal times, about 29 per cent of sales are generated from online channels. During July and August, online sales grew 53 per cent, but overall sales declined by over 7 per cent.
In-store trading days has dropped by almost 40 per cent from July to August, with the situation causing a huge amount of issues for the large number of staff.
The prolonged decline in sales during the first two months of the year has caused many companies to close their doors.
For the year ended June 30, 2020, the company saw robust growth in its male grooming business, which grew at a fast pace of 12 per cent.
Mr Fox said that as the lockdowns ended, many male customers would return to shops to get their beards trimmed.
The trend for a clean-shaven look returned quickly once people moved back to work after a break.
Shaver Shop shares have been volatile during the pandemic. The company’s shares have risen and fallen during the epidemic.
To save on your purchase from the Shaver Shop, shop online at the Shaver Shop and use a Shaver Shop coupon with your order to get a discount.