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The unique beauty needs for a diverse population get answered more frequently every day by a diverse group of beauty entrepreneurs.
October 6, 2020
By: TOM BRANNA
Editor
The beauty ideal is getting a makeover. Among the global population of nearly 8 billion, nearly two-thirds live in Asia and more than 2.7 billion consumers live in China and India combined. Meanwhile, the fastest-growing populations in the world are located in Africa, led by Niger where the rate of natural population growth is 3.8%, followed by São Tomé and Príncipe, and Angola. The US will become “minority white” by 2045. According to the US Census Report, whites will account for 49.7% of the population, followed by Hispanics, 24.6%; Black, 13.1%; Asian, 7.9%; multiracial, 3.8% and “other,” 0.9%. At a recent Cosmetic Executive Women webinar, Ready to Beauty LLC Founder Corey Huggins reviewed the future of multicultural beauty which, he noted, was formerly known as ethnic beauty, and can be described as personal care, skin care, cosmetics and hair care marketed to those who have “multi-hued” tones. “This group is large, growing and cannot be denied,” observed Huggins. “Of the 21 most populated counties in the US, 19 of them are multicultural and 50% of them are already two-thirds multicultural.” Furthermore, 40% of Millennials are multicultural and of that group, 50% are Hispanic Latino, according to Huggins. “Why is multicultural beauty important? Buying power! It’s all about the Benjamins,” he exclaimed. “Black and brown consumers are outpacing the white general market consumer in purchasing power and prior to COVID, those two groups were projected to have the greatest gains in total buying power by 2021.” What They’re Buying Citing a Packaged Facts study, Huggins noted that hair care, including wigs, hair pieces and hair extensions, accounts for 56% of total beauty spend. Makeup, including implements such as brushes, files and clippers, accounted for 36% of sales and skin care represented just 8% of sales. “They’re all driven by specific requirements,” noted Huggins. “Their hair grows differently, their makeup needs are different because of foundations and shading, and therefore their skin care needs are different because of hyperpigmentation.” In a recent Happi webinar, Dr. Seemal R. Desai MD noted that his skin of color patients are most concerned by skin dyschromia and its impact on their physical, emotional and social life. In fact, he described hyperpigmentation as the No. 1 aesthetic concern of Latin-type patients, while post-inflammatory hyperpigmentation (PIH) is the leading aesthetic concern of West Asian and African-type patients, according to Desai. In contrast, facial aging dyschromia is the leading aesthetic concern of East Asian-type patients. He noted that flawless skin tone is of utmost importance for Asian women, especially as they start aging. Huggins went a step further, noting that multicultural beauty can be subdivided into two groups—Multicultural Specific and Multicultural Suited. The former involves physiological need-based, functional requirements whereas the latter is all about psychological emotional-wants. “No other market can claim this, where it is so split so drastically between specific and suited,” said Huggins. Who is this consumer? She spends an average of $75 a month on beauty, shops more online than offline, seeks and is oriented toward luxury and niche beauty products, and tends to buys products that she can sample. Furthermore, she is highly-entrepreneurial. Because she’s not getting what she wants, she’s starting her own businesses across a variety of industries, explained Huggins. Entrepreneurial Spirit According to Guidant Financial’s Small Business Trend Report, 35% of businesses are owned by Black women and, in many cases, these entrepreneurs are truly on their own. Shut out by traditional investment institutions, black-owned beauty businesses have had a tough time raising capital. In fact, it’s been estimated that almost half of black-owned businesses will not survive the impact of the COVID-19 pandemic. But there is help and hope. For example, Ebony Crown is a new startup curating Black-owned hair and beauty businesses driven by the philosophy that money spent in the Black hair and beauty space should go back to Black-owned companies. “Only 15% of the $2.5 billion dollars spent in the black hair and beauty market go to Black entrepreneurs,” said Onyekachi Amadi, founder and chief executive officer, Ebony Crown. “It doesn’t make sense that so much of our money is being given to companies that don’t invest back into our communities or have a workplace/company reflective of the demographic they cater to.” Another group, Lift As We Climb, supports black-owned businesses and community organizations. Co-founded by Gabrielle Union, actress, producer and co-founder of hair care brand Flawless by Gabrielle Union, and celebrity hairstylist and business partner Larry Sims, Lift As We Climb highlights black-owned brands across its social channels and webpages to elevate visibility and opportunities for these entities. Consumers can learn more about each brand and purchase products from them through Gabrielle Union’s celebrity page on Amazon.com. The initial group of Black-owned brands selected include Mented Cosmetics, a cosmetics line for all skin tones and pigments; Darlyng & Co, a baby and children’s brand offering personal care products; Honey Pot, a natural and plant-based feminine care system; and BLK and Bold, a specialty coffee and tea brand. Just last month, Infinite Looks, Inc. announced seed financing with participation from Johnson & Johnson Innovation – JJDC, Inc. (JJDC) and Ignite Venture Studio. The funds will be used to scale the D2C consumer brand Sunday II Sunday, a luxury hair care product line of Infinite Looks, as well as to expand the product line offering. With this investment, Infinite Looks plans to scale the reach and offerings of the Sunday II Sunday product line. Throughout the remainder of 2020 and beyond, Beasley also plans to focus on acquiring donations to propel non-profit organization Venture Noire to help and accelerate more Black-owned businesses in the market. Earlier this spring, Qurate Retail Group—multiplatform retailer that includes QVC, HSN, Zulily, and several other brands— and the NRF Foundation launched the Small Business Spotlight with 20 small businesses across America that have been impacted by COVID-19. The current focus on Black-owned businesses is part of several initiatives announced by Qurate Retail Group to promote diversity, equity and inclusion. “We’re proud to stand with the Black community by sharing the stories of these extraordinary businesses, including their innovation, their triumphs, the challenges they face, and their remarkable resilience,” said Mike George, president and CEO, Qurate Retail Inc. “In these important times, we want to be part of the solution and help build inclusive communities where all people are treated with equity.” What She Wants Huggins cited Nielsen research that 60% of women say it is important that products and brands are created specifically for women of color and do not market to women with lighter skin tones. Why?
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