While Black consumers love trying new products and experimenting with their appearance, they appear to under-index when it comes to anti-aging products. However, it seems the haircare market is one area where the opposite is true as new research from Mintel reveals that 42% of Black consumers have tried or would be interested in trying anti-aging hair products.
Should marketers be doing more to specifically target Blacks with their messages? Blacks, which include African-Americans, make up about 14% of the U.S. population. These 44.5 million consumers are considered the largest racial minority – distinct from Hispanics who are an ethnic minority – in this country. Nielsen research reveals that marketers are cutting, when they should be increasing their spending on their audience.
Researchers have long noted that African Americans have been bigger adopters of new media formats like social networks and smartphones. One reason for this behavior may be that this demographic is generally about 14% younger than the typical U.S. consumer. But, African Americans also exhibit specific behavioral tendencies that make them easier to target through Black media.
The adoption of broadband internet access slowed dramatically over the last year. Two-thirds of American adults (66%) now have a broadband internet connection at home, a figure that is little changed from the 63% with a high-speed home connection at a similar point in 2009. Most demographic groups experienced flat-to-modest broadband adoption growth over the last year. The notable exception to this trend came among African-Americans, who experienced 22% year-over-year broadband adoption growth.
As black history month approaches, marketers have plenty of reasons to target the African American community with their messages. At least one study predicts that purchasing power by this demographic will account for 9% of spending or over $1 trillion by 2013. If spending power alone isn’t enough to encourage marketers to target this population, the details from another recently released demographic study may be: