African-Americans spend about $6 billion on health and beauty aids annually, 11.2% more than the general market, according to studies by the Hunter-Miller Group, Chicago. This makes African-Americans a golden opportunity in the health and beauty aids market.
According to Hunter Miller, blacks account for about 30% of all hair care product purchases. Hunter miller estimates 70-80% use chemical relaxers, the largest hair category. Skin care is also of primary concern among blacks, with 37% citing oiliness, 32% citing dryness and 31% pointing to acne as issues that demand effective solutions.
The African-American population is projected to reach 37.5 million by 2010, with spending power growing from $645.9 billion in 2002 to $852.8 billion by 2007, Hunter-Miller executives said, strong indicators that demand and expenditures will continue to increase. However, black health and beauty requirements are not currently being fully addressed, creating untapped areas of opportunity for health care providers and facilities, pharmaceutical companies and health and beauty product companies. The group said that focused targeting of relevant products and culturally appropriate advertising can secure a strong and loyal customer base and heighten awareness of issues in the black community. More info: (773) 363-7420; Website: www.huntermillergroup.com.