Razors are an estimated $2.4 billion-a-year industry in North America. Some 70% of men and 90% of women who shave typically use a razor; the rest use electric shavers. That's big business, and likely the reason there's always a new razor in stores, promising a super-close shave.

The latest products on the market by the top two manufacturers are battery-operated vibrating razors: the Schick Quattro Power, which has four blades in the cartridge head, and Gillette's Venus Vibrance for women and five-bladed Fusion Power for men. These razors lift hairs, making them easier to cut, says Eric Kraus of The Gillette Company.

Down the road, look for diversified products, such as electrics that allow for precision shaping, following the rise in popularity of goatees, says Kristin Branch of Remington electric shavers. Companies are always looking to make razors more comfortable, while developing new mechanisms that allow maximum contact. "Each product we introduce is a step up in performance. And when we introduce that product, there's another in development," says Kraus.