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New Report Shows Dynamic Textured Hair Marketplace
Posted: October 17, 2012
The growing textured hair market—in a world where 60% of the population has natural curls, coils or waves—has been bolstered by women embracing their natural hair textures, especially women with tighter curl patterns. With increased demand for products suited to specific hair types, a competitive landscape has emerged, and retailers are expanding inventory and looking to stake their claim in the dynamic, lucrative and global marketplace.
TextureMedia and market research firm Phoenix Marketing International partnered in delivering the 2012 TextureTrends report, an assessment of the textured hair market, drawing from roughly 4,500 consumers. TextureTrends monitors the behavioral and attitudinal trends occurring among textured-haired consumers and transforms the insights into actionable market intelligence. The study explores many areas of purchasing and usage, including awareness, spend, retail preferences, and brand loyalty.
Consumers Increasingly Empowered
Increase in product availability has altered the purchase decision process and empowered consumers, who now use blogs and social media to gather and share information and product reviews. Michelle Breyer, co-founder and president of TextureMedia, talks about one of the key findings from the 2012 report, saying, “Results highlight the trend toward convenience, and this will continue in 2013. More products are available in big box/mass retailers, and consumers have many options to satisfy specific needs.”
The study also shows the average consumer commonly purchases her preferred brand from three different retailers. “Brands must be at each touch point—online, in mobile apps, in-store displays—and coupons need to be available to encourage trial,” Breyer notes.
Understanding, Positioning by Specific Hair Type Key
Another key highlight from the research is the identification of notably different purchasing patterns across specific texture types. Breyer states, “Consumers are five times more likely to purchase a product if it appeals to their specific needs. Our research shows that consumers with tighter curls spend and shop very differently than those with wavy hair, and marketers and retailers must understand these differences in order to be successful.”
Breyer continues, “Brands have a big opportunity with this market segment. A consistent data point across 2011 and 2012 is that almost 50% of this market, no matter their brand loyalty, continue to try new hair products, and that’s positive news for any brand prioritizing engagement and trial in 2013 marketing plans.”
The TextureTrends 2012 research report is available by contacting Lori Kerrigan at TextureMedia.