The Business of Black Beauty: Consumer Needs, Investments and Resilience

10/21/2020
01:32:42
The Business of Black Beauty- Consumer Needs, Investments and Resilience

The Business of Black Beauty: Consumer Needs, Investments and Resilience

U.S. Black consumers spend $1.2 trillion annually, with shoppers spending an estimated $127 million on grooming aids and $465 million on skin care.[1] However, according to the Census Bureau only $2.5 million is contributed to Black-owned businesses and a Stanford University study found that only 1% receive loans in their first year. That’s seven times lower than the percentage for white businesses.[2] During the beginning of the COVID-19 pandemic, 41% of the Black businesses closed as compared to 17% of White-owned businesses.[3] 

Join our panel of top entrepreneurs and investors as we address and highlight:

Disparities and challenges of Black-owned businesses and ways to successfully build and market beauty products to consumers
Black-owned brands making breakthroughs in beauty, skin and haircare
Accessibility to financial capital and funding opportunities
________

[1] https://www.nielsen.com/us/en/insights/article/2018/black-impact-consumer-categories-where-african-americans-move-markets/
[2] https://techcrunch.com/2020/06/05/silicon-valley-can-fight-systemic-racism-by-helping-black-owned-businesses/
[3] https://www.voguebusiness.com/companies/black-owned-businesses-investment

Check out more On-Demand Webinars

Please note that this webinar was originally run on October 21, 2020.

You are watching a rebroadcast of the webinar. There will not be a live Q&A session following the presentation. If you have any questions for the speakers, please email [email protected]

DISCLAIMER: The information on this webpage, including in the videos, is proprietary or licensed to Johnson & Johnson Innovation LLC, its parent company or any affiliate companies (“JJI”) and is for informational purposes only.  This content is not intended to influence the use, sale, recommendation, or promotion of any products or services of Johnson & Johnson or its affiliates.  The information presented in the videos is specific and applicable to region in which the original presentation took place. Many videos contain information from, or sessions given by, third parties. Please note that only those third parties that provide this information are responsible for it. By providing this information, JJI does not endorse these third parties or any of the information provided in these videos, and JJI makes no representations, warranties, or assurances, express or implied, as to the content or the information presented and is not responsible for any use of this information by you.


Related content