The rise of the über metro

The rise of the metro-sexual, and in more recent years the über-sexual male, has seen the spending behaviour of men shift – with men spending more on cosmetics, skin care, personal grooming and fashion than ever before.

Alongside this, a shift in female spending habits has also taken place, with women playing an increasing role in making big-ticket purchase decisions historically made by males – including property investments, vehicles and expensive electronics.

Twenty years ago, male and female gender roles were clear cut – Dad was the primary bread winner while Mum minded the house and kids – but in the past three decades these roles have changed significantly, which in turn has resulted in a change in consumer spending behaviour.

Modern-day males

In 2009-10, IBISWorld estimates men will spend $48.4 million on cosmetics – a huge increase from the $5 million per annum spent 20 years ago. 2009-10 will also see men contribute $1.04 billion to the Australian hairdressing and beauty salon industry, accounting for 33% of the sector’s total revenue – a figure expected to increase to 38% by 2014-15, compared to 12% in the early 1990s.

Traditionally female-focused cosmetic brands such as Ella Bache have revealed that men now make up close to 40% of their customer base for some lines, while magazines such as FHM have indicated that fashion and grooming ads have increased by 45% in the past five years.

In addition to the surge in male beauty products such as the L’Oreal Men Expert Range, there has also been significant growth in male-only fashion lines from brands such as Ames Bros, Calvin Klein and AussieBum.

So what – or who – is driving this trend? According to IBISWorld, it’s the fairer sex that may hold the answers.

The entry of women into the workplace, and more importantly into high level management positions, has seen a huge shift in how men and women interact, as well as behavioural and appearance expectations both at work and at home.

In a male-dominated environment, there is little pressure for men to dress up to impress their colleagues, however as the number of women in the workplace increases, so too does the focus on fashion and overall presentation.

Globalisation has also led to a growing awareness among Australian men about how their male counterparts present themselves in other countries – particularly Europe – and the growing popularity of famed über-sexuals such as David Beckham, Bono and Brad Pitt has no doubt also had an impact.

Financially empowered females

While the last 20 years have seen Aussie men begin to show their softer side, Aussie women have taken steps to better establish themselves as equals in both the home and workplace.

This has seen women increase their social, political and economic power – creating a new audience for marketers – particularly in terms of big ticket items such as cars and houses, with IBISWorld data revealing that single women are more likely to own a motor vehicle than single men, at 75% versus 65%, and that single women outpace single men when it comes to buying homes.

In terms of vehicles, 40% of all private new car buyers are now women, and this increases to 70% when looking at the small and medium sized car market. When it comes to houses, IBISWorld estimates that around 20% of female home buyers purchase property for themselves alone, around 5% buy with a person other than a spouse or partner, and about 75% buy jointly with their spouse or partner.

The number of females completing tertiary education has been steadily increasing in the past 20 years – rising from 50.1% in 1987 to 55% in 2007, meaning females have represented just over 50% of university and high school graduates for some time now, and this trend is increasing.

As a result, more young women are entering the workforce as white collar professionals, obtaining higher and better paid positions than their mothers. And not only are women now earning more – with the average weekly wage for women increasing by 20.7% compared to 20 years ago ($339 per week, equating to $605 in 2008-09 dollars, versus $730 today), they are also working longer, and remaining single until an older age.

Fifty years ago a woman relied on her husband’s wallet when it came to making purchase decisions; even 20 years ago, while women had greater financial freedom, purchase decisions were made with a spouse – with the husband holding the key to the bank. Today, the increase in the number of single-occupant homes, coupled with greater incomes for women, suggests there is an increasing number of single, financially independent women with money to burn.

Robert Bryant is the general manager of business information firm IBISWorld.