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Article: Room to grow: the ethnic hair care industry has potential, but growth is still slow.
- Article from:
- Household & Personal Products Industry
- Article date:
- April 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Rodman Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IT JUST DOESN'T ADD UP. Ethnic consumers represent a growing consumer base with more buying power, or so states Chicago-based Euromonitor International. With more jobs available, ethnic consumers, particularly in urban centers, have had both an incentive and the financial means to purchase more expensive ethnic hair care products.
Yet sales were up only slightly in 2005, and only for African American hair care products. According to Information Resources, Inc. (IRI), Chicago, IL, ethnic hair care sales for the year ending Feb. 19, 2006 hit $225 million, as opposed to $224 million for the same time period in 2005. African American hair care sales jumped to $172 ...