Black hair-care association has found a ‘new style’ for store owners in the industry to prosper
BOBSA is creating a direct link to China to cut costs for Black hair care store owners and businesses
(Beijing-CHINA) – Whether it’s natural or relaxed, the haircare industry amongst US Black consumers has a predominance in spending habits more than any other US consumer group.
In fact, according to a consumer market analysis from Mintel Reports, 51% of Black consumers use styling products compared to 34% of US consumers overall.
Then, it is also no wonder that the sales of the overall Black haircare market in 2015 were an estimated $2.7 billion…and according to Black Owned Beauty Supply Association, (BOBSA) the Black haircare & cosmetic industry nationwide and internationally is a $9 billion industry that serves millions of African-Americans.
So what is the biggest issue with high black consumerism in this market?
Unfortunately the Black haircare industry is predominately controlled by a conglomerate of Korean store owners and suppliers, who are able to drive down prices, collectively buy in bulk and be middlemen, and buy out non-Korean store owners.