- The Dollars and Cents of Haircare
- The Why Behind it All
- Is It Even Worth It?
- Watch The Documentary
- Final Thoughts
The Dollars and Cents of Haircare
Hair is a big deal in the black community. By now everyone knows that the black community is the biggest consumer base for most brands so it is no wonder that our support has made the hair and beauty industry what it is today. Studies project that we will have spent one trillion on hair by 2021 (Alexa, how many zeros are in one trillion?).
When the natural hair community gained popularity online the options available to us as it relates to products, were limited. The conglomerates didn’t think it would be profitable to market to a black audience.
Saying that things have changed is an understatement. We have watched as companies changed their tune and started to market directly to us. They even went as far as buying out black-owned companies that had been trying to make a name for themselves in the industry.
Last year we came across a documentary that focused on how the dollars and cents of the black community were distributed on hair care.
The documentary on the YouTube channel BETNetworks, revealed that in a year, a single black woman can spend $40,000 on weaves and wigs*, while another can spend upwards of $20,000 on natural hair maintenance.
I had to rub my eyes at the sight of those figures. Immediately I started thinking, “How many houses could I buy with that?” Frankly speaking, that sum could feed a multitude, and bring solar-powered electricity to my village. That must be some hella weave and auto-refill type lifetime supply of product these women are buying, but I digress.
It really got me thinking about my own spending habits on hair products and when I started calculating… let’s just say I realized my contributions would also be considered a fortune by some, not a pittance by any means. I guess I’ve had my own fair share of insane purchases myself.
Unless you are your own product guru whipping up stuff in your kitchen, hair maintenance can be expensive. It would appear that it is naturally meant to be that way. But the truth is that the hair industry is making a killing off us. Still, is there nothing we can do about our exorbitant spending?
It appears that whether our hair is chemically processed, natural, or extension hair, the costs remain high. Here is the thing though, if we hold the lion’s share when it comes to spending power, can’t we influence the market in such a way that it drives prices down? Why does hair maintenance have to be so expensive?
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