Hair products for Black people
Final month Nielsen circulated its report Resilient, Receptive and Relevant highlighting the spending habits of African-Americans in the us. The document, filled with usable data does not adequately address the opportunities for Black entrepreneurs.
Atlanta Ebony celebrity features removed the five companies we think Ebony entrepreneurs should dominate. You can find already positive indications in each industry, however the opportunities continue to be plentiful.
Beauty and Personal Care
Essence’s 2009 Smart Beauty study unearthed that African-American females spend $7.5 billion yearly on beauty items and spent 80 percent more on cosmetics and skin-care services and products compared to basic market. According to celebrity makeup singer Sam Fine, Ebony women can be investing more at the countertop because “there’s little satisfaction. She keeps purchasing with the hope that this product can do just what it’s supposed to do.”
Great news: companies like Iman cosmetic makeup products are generating over $25 million a year in income.
Additionally, Black ladies have reduced vast amounts spent on relaxers and weaves while they transition to all-natural hair care.
Based on a 2009 study by Mintel, a worldwide general market trends firm, huge companies like L’Oreal American and Alberto Culver business, which take into account significantly more than one-third for the marketplace, have both experienced product sales decreases recently thanks to the emerging black-owned normal tresses market.
Early in the day this current year, Michael O’Neil, vice-president of sales at Ultra Distributors disclosed the combined yearly revenue of major all-natural locks brands blended Chicks, Curls, Kinky-Curly, skip Jessie’s, Shea Moisture and Jane Carter Solution has soared from less than $10 million in 2009 to about $150 million.
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