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One of the most promising vectors of growth is the expanding market for so-called ‘ethnic’ or ‘multicultural’ beauty products, meaning products targeted at multi-ethnic consumers in both the West and in emerging economies.
Certainly, this market is not new. But in recent years, demand for multicultural beauty products has grown as a result of expanding middle classes in emerging markets.
The biggest challenge for beauty companies, said Akkad, is not the growth of emerging markets, but the need to respond to the fast-changing populations and the increasing diversity in mature markets.
“With rising tourism from different markets, intermarriages and the creation of completely new skin tones and skin behaviors it means there's constant excitement when you're talking about meeting the needs of all skins and cultures. Nothing stays the same.
In fact, given that three-quarters of the global population is not white, multicultural beauty is not only the fastest growing market for cosmetics companies, but will become, inevitably, its largest — by a long way. “It's not so much as to say, ‘This is an opportunity, maybe we should seize it, “This is the world: say's Julie Zepeda, CEO and founder of the National Latino Cosmetology Association a non-profit trade organization.
Between our online opportunities, email options, and trade events, we will deliver you the focused attention of thousands of potential customers for your products. We will do our best to ensure your options are economical, and prove to be very effective.
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