Translate »
ArabicChinese (Traditional)EnglishFrenchHaitianPortugueseSpanishSwahili
ArabicChinese (Traditional)EnglishFrenchHaitianPortugueseSpanishSwahili
Saturday, September 20th, 2014

5 Industries Black People Should Dominate Based on Our Consumption

Last month Nielsen released its report Resilient, Receptive and Relevant highlighting the spending habits of African-Americans in the United States. The document, filled with usable data does not adequately address the opportunities for Black entrepreneurs.

Atlanta Black Star has extracted the five industries we believe Black entrepreneurs should dominate. There are already positive signs in each industry, but the opportunities remain plentiful.

spending beauty 1

Beauty and Personal Care

Essence’s 2009 Smart Beauty research study found that African-American women spend $7.5 billion annually on beauty products and spent 80 percent more on cosmetics and skin-care products than the general market. According to celebrity makeup artist Sam Fine, Black women are spending more at the counter because “there’s little satisfaction. She keeps buying with the hope that this product will do what it’s supposed to do.”

Good news: Brands like Iman Cosmetics are generating over $25 million a year in revenue.

In addition, Black women have decreased millions of dollars spent on relaxers and weaves as they transition to natural hair care.

According to a 2009 study by Mintel, an international market research firm, big brands like L’Oreal USA and Alberto Culver Company, which account for more than one-third of the market, have both experienced sales declines in recent years thanks to the emerging black-owned natural hair market.

Earlier this year, Michael O’Neil, vice president of sales at Ultra Distributors revealed that the combined annual revenue of major natural hair brands Mixed Chicks, Curls, Kinky-Curly, Miss Jessie’s, Shea Moisture and Jane Carter Solution has soared from less than $10 million in 2009 to about $150 million.

Sources: www.wwd.com, www.businessweek.com

Pages: 1 2 3 4 5

Comments

  1. The only industry blacks need is the Black Domestic haircare and we already own it……The economic portion of the black domestic hair care industry rightfully and justifiable belong to us.

    The economic aspect to the black hair care industry wasn't taken from us it was abandoned by us. We abandoned our industry through the ignorance of negligence. We neglected to support it and critically underestimated the importance of having an infrastructure of resources able to support the massive weight of our industry.

    We failed to support or secure our industry and as a consequence of our negligence the Korean players control the economic portion of our industry. We still own the hair care industry but are paraded by the Korean players before the world as disrespected, disdained, broke, unintelligent disenfranchised black people with holes in our souls.

    We have a hole in our soul because it was Madam CJ Walker a black woman that first invented products for the black hair consumer. Madam CJ Walker justifies to the world that every aspect of the black hair care industry righteously and rightfully belongs to us. The Korean players know it, we know it and the world knows it.

    Lacking the intelligence of know-how prevents us from retrieving the rightful profits from our industry. Lacking know-how certifies to the global community that African Americans should be disdained and held in contempt as cowardly, unintelligent self-disrespecting black people with deserving of holes in their souls.

    For us to survive in the 21st century in peace, health, wealth, harmony and love we must show and prove to the global community that African Americans are intelligent enough to devise a workable strategy to effect a reversal in fortune and regain our industrial profits. Our mission at Mubarak Inter-Prizes is to employ defined intelligence to regain our industrial profits and claim to fame.

    Defined intelligence
    When someone owns there is a finality of the mind to accept the fact that they own it but when a person controls that makes for a fluid situation. The Korean don't own our industry. The Korean players control the money from our industry but don't own our industry per-se. We own the industry but are deprived of the financial profits from the industry. Our industry is lying down at our feet. We are the hair care industry and now we need the intelligence, strategy and know-how to bend down and pick it up.

    The Korean players don't want our hair care industry and claim to fame. The Korean players only want the money generated by our industry. They clearly demonstrate their intent by duplicating and processing all of our original hair products. They in turn market and sell to us their cloned and duplicated version at a lower cost thereby undermining and lowering the perceived demand for the original product. The killer application to the Korean players strategy siphons out the economic portion of our industry. We are left with the original product minus the products unique killer application.

    The Korean players add fuel to the global perception of African Americans as losers when they openly sell back to us our own hair care products in a duplicated, degraded and inferior quality and we duly justify our global perception when we openly, knowingly and with intent support our own poverty and vegetation through the purchase of our duplicated products.

    The Mubarak Inter-prizes challenge and objective
    The challenge and objective is to gather our intelligence and strategically create a marketing strategy that creates a reversal of fortune that redirects the industrial profits from our industry back into the coffers of "we" the rightful owners.

    We don't need to physically fight anyone nor ask permission because the world understands that it is our duty to effect a reversal of fortune. It is our duty to effect a reversal of industrial fortune if we are to restore our honor, dignity and self-respect before the world.

    To receive the respect of the 21st century global community we must cleverly, quietly and strategically recoup through sheer intelligence and stealth the economic portion of the black hair care industry we sold, gave away and abandoned.

    Showcasing our talents and marketing our original products in contrast to their duplicated version of our original products will accomplish a reversal of fortune.

    Upon success we will be hailed as real time black history heroes of generational proportion for having saving the lives and insuring the existence of African Americans for generations to come.

    The Insertion
    In any operation involving percision and stealth the insertion is where we will meet the most resistance. Mubarak Inter-prizes is moving quickly and quietly so as not to disturb the global equation and alert the global dynamics resisting us that we have entered the equation.

    There is no company on the horizon that has penetrated and aggregated the 21st century like Mubarak Inter-prizes. All other companies are set up on a civil rights and affirmative action platform.

    Mubarak Inter-prizes is the only company with a progressive agenda. Our agenda is not predicated on the current infrastructure that's being currently and rapidly dismantled by the European players. Work with and support Mubarak Inter-Prizes

    Our insertion into the global marketing equation is well under way and when done according to the plan will support African Americans with careers, jobs, job offers and substantial employment.

    Sincerely, Enoch Mubarak

  2. L Taja Lappier says:

    I was going to the dentist today and I stopped in my tracks and turned around and left. I decided–only do business with African Americans. I caught myself.

    I have one thing to say… we make white people allot of money! We are one a bunch of crazy consumers. I can't believe that blacks watch on average 7.5 hours of tv daily… no wonder we don't have anything. Geeeze…

  3. George Edward Buggs says:

    Happily ignorant we amble along and will fight anybody who brings us knowledge, especially if it looks like we have to take responsibility for doing something that may run counter to what white folk want us to do and be.

  4. Debbie Dozier says:

    I am an independent representative for a company called Micore' International. We are the first, strongest and most financially stable Black owned company to offer Extensions and Lace Front Wigs.We differentiate ourselves because We own our hair factory in India. Therefore we control the quality, processing and sources of the hair. You can trust the hair you buy from Micore' comes from 1 person and not pieces from many. Because there is no truth in labeling, the hair that you buy in beauty supply stores and on line, may not be remy/remi or even human hair. Remember folks, "human hair" only has to be THREE PERCENT HUMAN HAIR….97% may be dog, goat, horse or yak hair or it could be synthetic material or yarn. BUYER BE WARE.OUR HAIR HAS 3 MONTHS TO 1 YEAR WARRANTY. Find me on Face Book under Beautiful Rendezvous Micore' and Flori Roberts. Flori Roberts offers exquisite makeup for women of color and all complexions. The rich hues allows Flori Roberts to offer foundations, eye colors and lip colors for the most ebony hues to the lightest complexions. JOIN THE HAIR REVOLUTION TODAY…TAKE BACK THE INDUSTRY THAT IS 87% BLACK CONSUMERS . WE ARE LOOKING FOR CONSULTANTS, WE TRAIN, WE HAVE OUR OWN UNIVERSITY.
    http://www.perfectHairREMYdee.com or 678-404-0090.www.colormedirect.com/beautifulrendevous

  5. Speak only for yourself.

  6. You can do it fam.

  7. The hair and beauty industry should be ours anyway. No one knows our hair better than us. Why are we buying our hair products from Koreans, not to hate on them, but I'm just saying. We also need our own media. Black owned television networks, radio stations, newspapers, etc to tell our own story and have our own voice. We don't even own BET anymore.

Speak Your Mind