Supplier News Breaks Archives
SheaMoisture sizes up burgeoning ethnic market
April 22nd, 2013
AMITYVILLE, N.Y. – Research by Sundial Brands, which makes the SheaMoisture line of beauty care products, points to the emergence of a New General Market that is more diverse in a number of ways.
For the year ended July 31, 2011, African-Americans, Latinos and other minorities accounted for 50.4% of all births in the United States, according to the Census Bureau. That significant demographic milestone represents a signal to retailers and suppliers that it is time to rethink their approach to serving the needs of ethnic consumers.
By 2040 America’s non-Caucasian population will equal the Caucasian population in size, the company points out, adding that marketing to this emerging majority requires a culturally astute approach that demonstrates an understanding of each group’s unique needs, particularly in the personal care segment.
“SheaMoisture is uniquely positioned to partner with retailers on this New General Market,” says Sundial Brands founder and chief executive officer Richelieu Dennis. “With a heritage built on serving and satisfying the unmet needs of consumers, SheaMoisture not only brings a loyal group of followers to retail stores, but also understands and identifies with the transcending consumer influences at play.
“SheaMoisture has a comprehensive portfolio of luxurious beauty products — all 100% natural and each carefully designed and formulated with proprietary ingredients to satisfy a specific consumer need.”
Shea Moisture aims to exceed the beauty expectations of all men, women and children — with products for every stage of one’s life. Dennis points out that his company takes a problem/solution approach to hair care and skin care, focusing on specific hair and skin care needs — and not on ethnicity — in its product development efforts.
Sundial Brands believes that successful retailers will celebrate interests and aspirations in the entire shopper community, rather than segment and target individual traits of particular ethnic groups.
Another aspect of the New General Market is the fact that African-Americans, Latinos and Asians, as well as eco-conscious consumers, have been underserved in the mass market in terms of availability of products with natural ingredients, the company says. Americans of color actually skew more green-minded than whites, according to the market research firm Packaged Facts.
These consumers are looking for personal care products that are green, efficacious and healthy, according to Sundial Brands, which believes in supporting its natural product offerings with education and social engagement to help consumers understand the origin and benefits of ingredients that cater to their specific needs.