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| • | Natural beauty. In film and television, Black characters are letting down their hair in curls, cornrows, puffs, and twists, flaunting the natural texture that was once frowned upon in Hollywood. Afro-textured hair has long played a central role in Black American identity, but it hasn’t always been celebrated by mainstream America. To combat negative stereotypes, Black people have often had to make others “more comfortable with their very presence” by emulating Eurocentric beauty ideals, as two university professors put it. [NYT] | | | | • | Caring for textured hair. A big opportunity exists for hair care brands that can meet Black customers’ needs: Black consumers spent roughly $910 billion in 2019. But too often, they have to cope with inadequate beauty products or discrimination in stores. In skin care and makeup, innovative companies have found success by making inclusive products. But there’s a lack of hair care offerings that serve people with textured hair, says one well-known stylist who debuted her own hair care line in May 2022. [Vogue Business] | | | | • | Out of stock. Black Americans spent $6.6 billion on beauty products in 2021. Yet Black consumers often have trying experiences within the beauty industry, despite being highly discerning. Nearly three-quarters of Black consumers said that Black beauty products were frequently out of stock where they shopped, a McKinsey survey revealed. At the same time, Black consumers were 44% more likely than their White peers to believe that quality trumped cost and 38% more likely to prefer brands that reflected their personal style. | | | | • | Building Black brands. A majority of Black consumers said that they prefer to buy brands owned or founded by Black people, according to McKinsey research. But such businesses often face substantial barriers, including a lack of funding and representation, on their way to developing products and winning over consumers. By addressing racial inequity, the US beauty industry could add an additional $2.6 billion in revenue by 2025, the analysis finds. Explore how the beauty industry can better support Black brands and consumers. | | | | — Edited by Belinda Yu | | This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. | | You received this email because you subscribed to the On Point newsletter. | | | | Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | | |
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