Black Pound Report 2022 highlights Multi-Ethnic spending power

by | 1 Feb 2022

afro textured hair styling
The UK hairdressing industry is in the midst of a drive to step up its inclusivity, with brands and salons alike seeking to improve their offering for consumers across all hair textures. The societal need for the shift is evident, but a new independent report published this week has emphasised the economic power of consumers in the under-served Multi-Ethnic hair demographic.

The Black Pound Report 2022 (produced by cultural change agency BACKLIGHT) is the result of interviews with thousands of people cross the UK who identify as Black, Asian and Multi-Ethnic. It provides an intersectional look at how consumers of all ages and genders in this diverse audience spend their money, interact with brands and connect to marketing, including across the hair and beauty sector. Here are some of the key findings that could impact your hair and beauty business:

Multi-Ethnic consumers have £4.5bn annual disposable income, with £2.7bn of that spent on Hair & Beauty

Broken down, that works out at £230m every month spent on health and beauty products and services, with a product spend 25 per cent higher than any other consumer. A huge market to be excluding if your offering is not inclusive.

Multi-Ethnic women and men are buying more hair and beauty products than their White counterparts

Multi-Ethnic female consumers spend 58 per cent more on hair products than white female consumers, with Multi-Ethnic men also spending more on male grooming products than White men. If you have made your service offering more inclusive, make sure your retail stock reflects this too.

22 per cent of all Multi-Ethnic consumers (rising to 30 per cent among Black women) say they need to go to specialist shops to purchase health and beauty products

With the high-street failing to meet Multi-Ethnic consumer needs, a professionally-backed product offering in your business can provide a much-needed option for clients.

Representation in marketing and outreach is vital, with 93 per cent of Black, Asian and Multi-Ethnic consumers believing brands have a responsibility to approach diversity and inclusion

Perception of your salon or barbering business is vital, with word of mouth playing a huge part within Multi-Ethnic communities; 78 per cent of Black, Asian and Multi-Ethnic consumers stated that if a company or brand impresses them in some way they would “make a point of telling their friends about it”. Conversely, 89 per cent of Multi-Ethnic consumers would consider boycotting a brand or business if they felt it clashed with their values.

A practical starting point for many hair business owners wanting to improve the breadth of their offering is training – both in caring for, styling and colouring all textures of hair and in product recommendations across the ranges they already stock.

After all, 38 per cent of Black respondents consulted for The Black Pound Report said they think the most important approach a company or brand can take to diversity and inclusion is to show a commitment through their recruitment policy and training. There’s no time like the present.

If you’re looking to take steps towards texture equality in your salon or barbering business, but are searching for relevant and practical advice on how to go about it, Salon Smart 2022 can help provide answers.

As part of a rich and exciting line up of sessions spanning the whole day on 21 March, an expert panel will be discussing what you can do as business owners to bridge the texture gap and make our industry more open and welcoming for everyone. With Most Wanted Texture Expert Lisa Farrall on hand, plus industry legends Errol Douglas MBE and Charlotte Mensah providing insight, there will be bucketloads of useful advice and ideas for you to take away and put into action.

Tickets are on sale now for just £75+VAT, and you can view the full speaker line-up over on the Salon Smart 2022 event site.

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