Considering the cost of living, growing families, credit card and student loan debt, you'd wonder where do women get so much money to spend on beauty products? How much cleansing, shampooing, clarifying, exfoliating, waxing, polishing, scrubbing, moisturizing, cutting, coloring and blushing of beauty products can we do? According to EuroMonitor, 2015, U.S. women will spend an estimated
$81 Billion dollars on beauty and personal care products by 2017. Further confirmation that the quest for beauty is an ever-evolving pursuit.
ATTN: Beauty Brand Corporations & Executives:
Women are savvy enough to know the power is in their purchase.
Your target audience may not know figures, but they are peripherally aware that women create beauty corporation wealth. And so, corporations should lend a social responsibility ear to the notion of giving back to the communities that feed them. Social responsibility should be an integral part of a brands' marketing and communication plans.
Particularly if your target audience is ethnic, multi-cultural or African American women. African American women purchase 3 to 5's more beauty products than general market (Caucasain) women. (Mintel, 2014) This is significant because African Americans are only 13% of the U.S. population, but spend more on beauty than other ethnic groups. This speaks volume about the African American woman's identity and acceptance in the U.S., at work, school, socially and even from their family and loved ones. As a culture, there is an inherent ideology of beauty that keeps the pursuit of "being and appearing to others as beautiful," ever-evolving. Although the "natural hair movement" of the last 15 years has shifted the acceptance of wavy, curly and kinky hair. Ironically, now the the new naturals hair care category is absorbing the lost sales from relaxer sales declines, as a balancing act.
WHAT CAN YOUR BRAND DO ABOUT IT?
Develop a social responsibility platform with clear objectives and outreach. It doesn't have to be elaborate in Year 1, just get involved. Time is money, it may be in time initially vs. money. As a brand it's important to serve the women that built your brand. Feed the community that feeds you. Line item a team for the ethnographic research. Find out who your consumer is? And where her pain points are (cancer, thyroids, aids, domestic violence, etc...)? Support those charities that are important to your target audience.
It's just that simple. It's also tax deductible. You'll create a win/win professionally within your corporation, your company will love the press and the community will feel you care and appreciate them.
For more on charity and other philanthropic outreach, you can read my article from OTC Beauty Magazine about how to get involved with charity and fulfill your social responsibilities.