Buying Power of African American Women
According to today's Clarion-Ledger out of Mississippi, African American women are an economic force to be reckoned with, often more than women in general. It's not just a local source coming to that conclusion either. Sources cited for the article include: Consumer Expenditures 2004; World Of Wonder II: How We Define Success, 2005; Roper NOP World Health & Beauty Aids Study, May 2005; AC Nielsen Homescan, 2005; 2005 Fall, MRI Buying Styles; www.essence.com
The Clarion-Ledger reports the following findings:
# African-American women make up 12 percent of the U.S. population and account for 21 percent of all hair-care purchases.
# In 2004, African-American women spent $817 million on products in 34 beauty-related categories.
# Forty-three percent of African-American women buy products that enhance their natural beauty, compared to 20 percent of women in the general market.
# 61 percent of African-American women prefer products that are labeled all-natural, compared to 47 percent of general market women.
# 92 percent of African-American women use health and beauty products to assert their individuality, compared to 56 percent of general market women.
# 42 percent of African-American women will pay extra for products that conform to their image, compared to 31 percent of general market women.
# African-American women are four times more likely to decide which health/beauty products to buy based on packaging, compared to general market women.
To view the Clarion Ledge article, go to: http://www.clarionledger.com/apps/p
Labels: African American, buying, power, women
posted by Woman-Centric Matters @ 1:40 PM
2 Comments:
It is about time that both the media and the retail industry begin to realize the buying power of women of any race or age. Whether you are considered a minority or not, using your money is a great way to make an impact on both the economy and public perception.
I think women in general use makeup as a way to enhance their natural beauty and make themselves stand out as indidivuals. CoverGirl recently came out with the Queen collection which offers a wide variety of color palletes to choose from. It is about time that both the beauty industry and the global market opens up their eyes to this wonderous, beautiful and often neglected group of women.
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