To put it simply, the ethnic beauty market is a cash cow.
Market Research company Packaged Facts released a 2008 tally of the market’s standing.
In 2008 alone, ethnic haircare sales are expected to hit $1.4 billion. Since ethnic-specific haircare products are overwhelmingly targeted to African American consumers, it seems that the black dollar has accounted for much of the market’s success.
Can you guess what products are leading in sales?
3 . STYLING PRODUCTS
Still, while relaxers dominate sales in the market, it seems that this product segment has lost a bit of momentum over the past several years. Between 2003 -2007 relaxer sales have fallen nearly five share-points.
It seems a number of black women are depending more on their conditioners or styling products to give them their desired look, or they are simply going natural — and leaving relaxers on the shelves altogether.