Published on : Aug 17, 2017
Albany, New York, August 17, 2017: According to the latest study, Hispanic women in the United States are the fastest-growing and highest-spending market segment for cosmetics. A strong culture of beauty impacts Latino consumers’ decisions. Personal appearance is very important for them, especially women, which as a result increase the demand for personal care products in the past few years. To explore market current scenario, a study titled “U.S. Hispanics and Personal Care - July 2017” has been published to the online repository of Market Research Hub (MRH). The study briefly covers Hispanic personal care marketers' efforts as well as consumer behavior in the United States. Moreover, key factors, opportunities, issues and market perspective while estimating the market size are also outlined.
At first, this report talks about the overall personal care market covering consumer preference towards these products. Hispanic people are the largest minority in the United States. Because of the high birth rate and increasing immigration, the Hispanic population is growing at a rate much faster than the total U.S. population, a trend anticipated to continue. Personal care is a category in which brand is only important when it is associated with specific benefits such as scent and being good for sensitive skin, long-lasting, or moisturizing. As per the findings, Hispanics have a realistic approach to personal care and Hispanics’ opinions about buying personal care for others in the household. Also, women pay great importance to their beauty, which exhibits that Hispanic women drive engagement in this category.
According to this latest study, Hispanics’ expenditures on personal care products remained practically flat between 2012 and 2017. One of the major issues in this market is that Spanish-language packaging may not make a difference. Also, Scent, benefits, and past experience influence purchases of products. With increased beauty consciousness among consumers and increased availability of advanced products, there is huge potential for the market to grow in the coming years. While brand loyalty seems difficult to achieve, there are opportunities for brands that make an effort to consistently connect with Hispanics, going beyond the trial.
Moreover, the study also adds that more than half of U.S. Hispanics experiment with new products at least occasionally, which impacts the sales market of personal care products. At present, the Hispanic market is young because most of the products demand. Skin and hair care products continue to grow in spite of the competition in body care and face care products. Some of the key market factors analyzed in the study is that Lower median household income forces Hispanics to prioritize spending, and improving labor market may inspire Hispanics to increase discretionary spending. Later, a section covering key players active in the U.S. market are also given.
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