The delicious-sounding term is shorthand for Young Urban Males, and HSBC researchers believe these twentysomething, label-conscious men show more promise for consumer clout than their older—and female—counterparts, according to Bloomberg Businesssweek.
“The metro-sexual, that cliché from 20 years ago, is now becoming a commercial reality,” the HSBC researchers claim in their report.
So what’s driving the rise of Yummies? A big factor is that men are getting married later in life, which means what they would have spent on a family can now be spent on a spiffier wardrobe, designer shoes and musk-scented cologne. Business Insider also reveals a few other insights from the report: Yummies are perceived to be obsessive about their health and personal grooming, which may explain why they are fueling such nontraditional categories as cosmetics and accessories.
The media also apparently has something to do with the rise of the demographic by making it more socially acceptable for men to care about their appearance. By contrast, the metro-sexuals of decades yore did not have this public support, which did not bode well for sales of luxe goods for dapper men.
Now, however, the environment has been set for luxury brands to take Yummies seriously. Michael Kors hopes to grow its annual menswear revenue to $1 billion, and Coach has already seen its men’s sales go from $100 million in 2010 to $700 million today. Meanwhile, Burberry, which used to license its menswear to third parties, is now focused on that segment’s growth.
So if you’re a young, urban male who loves his Gucci sneakers, Tiffany cufflinks and Dior aftershave, consider yourself lucky: Top companies are about to pander to you. But before you blow your discretionary income on next season’s Prada collection, make sure you set up a smart budget first.