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Press Release: June 2004
Spending by Ethnic Consumers on Health and Beauty Products
Reaches $1.5 Billion Push of "mainstream" products to help grow market
New York, June 2 – Marketers
are realizing that more general, rather than ethnic-specific, product appeal
is the key to growth in the ethnic cosmetics and beauty care market according
to "The U.S. Market for Ethnic Cosmetics, Hair Care, and Beauty Products," a
new report from market research publisher Packaged Facts. Marketing efforts
such as celebrity endorsements of general HBC products aimed at ethnic audiences
is becoming more frequent in hopes of tapping the astounding $1.9 trillion
spending power of U.S. Asians, Blacks, and Hispanics.
Rethinking the way health and beauty products are marketed
comes after research indicates that general-use products, like Unilever’s
Suave shampoo, are top choices among ethnic consumers, rather than ethnic-specific
brands.
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Currently, the market for ethnic-specific health and beauty
products is stagnate and valued at $1.5 billion, a 1.3% decrease over 2002
sales. Purchases of general-use health and beauty products by ethnic consumers
are valued at $6 billion, posting a slight increase of 1.1% over 2002.
"Growth
in the ethnic HBC market will have to come through nontraditional ways," said
Don Montuori, Acquisitions Editor for Packaged Facts. "Companies will need
to extend mainstream product lines to attract ethnic consumers. But they
shouldn’t abandon niche positioning, such as launching products for
Hispanic-Americans or developing more natural product lines for African-Americans
that are not reliant on harsh chemicals."
Now in its completely updated fourth
edition, "The U.S. Market for Ethnic Cosmetics, Hair Care, and Beauty Products" features
key growth trends, demographics information, product breakdowns, and competitive
profiles. Projections are included through 2008. This new report is priced
at $3000 and can be purchased directly from Packaged Facts by clicking
http://www.packagedfacts.com/pub/953402.html
. Chapter-level sections are available. The report can also be purchase
through MarketResearch.com.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes research reports
on a wide range of consumer industries, including consumer goods and retailing,
foods and beverages, and demographics. For more information visit www.PackagedFacts.com,
or contact Matthew Seward at 301-468-3650 x205, or mseward@marketresearch.com.
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