Massive drop in razor sales attributed to hairy hipsters, increased stubble in the workplace

From:  The New York Post

They're the scourge of Brooklyn's trendy streets — and now hairy hipsters are rocking the business world.

The trend for facial hair and unkempt stubble is among the factors damaging the razor industry, according to a new analysis.

Razor sales are dropping across the board as America's shaving habits change and beards and stubble become more acceptable in the workplace, according to market analyst Euromonitor.

Procter & Gamble, which owns Gillete and Energizer (Schick) say their sales are dropping in developed markets, according to Bloomberg.

Unit sales of Schick razors have dropped 10 percent.

"The vogue for stubble, the relative non-hairiness of Chinese men, growing acceptance of the unshaven look in the workplace and, most importantly, the ever increasing cost of shaving have all been damaging to men’s shaving and Gillette alike," wrote Nicole Tyrimou in Euromonitor.

"As male shaving habits change in North America and Western Europe, and Asia Pacific remains an under-developed market, what does the future hold for men’s shaving?"

Gillette and Schick are both trying to counteract dropping sales with facial stubble "stylers" - for customers who haven't abandoned shaving altogether but want to keep their beards in check, Bloomberg reports.