Published on : Mar 21, 2018
Albany, New York, March 21, 2018: Each year black women spend billions on beauty products, with an emphasis on choices which are influenced by a variety of sources, but all must authentically reflect their image and specific needs. In the United States, there are an estimated 22.8 million Black females who spent a lot when it comes to beauty. Mass-market brands top Black women’s beauty purchases, but mostly they prefer to try products prior to purchase. To study further, a new report titled “Black Beauty Consumer-US-March 2018”, has been included in the broad database of Market Research Hub (MRH). This report offers a clear insight into the trends prevailing among consumers regarding black beauty & personal care product and services. Further, a forecast analysis for the period until 2022 is also enclosed in the assessment; this gives the reader an exact idea about the market scenario in the United States.
In addition, the study also highlights the current nature and future scenario of the black beauty consumer market in the U.S. The report presents the market appendix, methodology and abbreviations, fan chart forecast for future. This report covers a broad range of products within the beauty market, some of them are lip products, eye makeup, face makeup and skincare products. Total U.S. retail sales and Black consumer expenditures on these beauty products, at current prices for the period 2012-17 has been included in the study.
In 2017, Black women spent $1.7B on beauty care products. More than eight in 10 Black females are aged 12 years or older which leads them to adopt the beauty products. It has been analyzed that natural beauty products have greater value vs expensive or high-end products. Also, natural ingredients are preferred but unacquainted segments need more proof of efficacy. In terms of market overview, black beauty expenditures expected to grow in tandem with the general market. The reports also add that that black women are less likely to use cosmetics in comparison to the general market, but their usage varies across beauty products due to skill set, knowledge of expected benefits, and most importantly, women’s ability to find products in the right shades to create her desired look.
It is also a fact that black females have been conditioned to searching for products that are made for her and will choose higher-priced products that work if the budget allows. Mass brands are affordable, premium brands are made for them in mind. Fenty Beauty brand launch has changed consumer expectations in terms of their shopping choices. Some of the major market factors mentioned in the study are:
- Most Black women have some college education
- Black women have the highest labor force participation and unemployment rates
- Half of the black women earn less than $25K per year
Another important segment of the report highlights competitive landscape by profiling key players and their latest innovations. Some of the independent brands create trendy products with Black women in mind, and K-Beauty trends lack awareness among Black women. The report also found that tech-enabled product innovations set to elevate consumer expertise in the coming years.
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