State of Black Beauty: 2023 Year in Review

This Report Takes a Deep Dive into 2023 as SSI defines Black Beauty and uncovers unique insights related to key growth drivers & detractors and shifting industry dynamics. Framing Multicultural Beauty Across Categories Market Size Potential Core Brands Affinity Brands.

Hair Style and Beauty Trends

Wash & go was the go-to hairstyle of 2023 for African American and multiracial women. This style has long been popular , however was shunned by many consumers in 2021 in favor of longer wearing or low maintenance styles like braids and wigs.

Retailers, Brands and Purchase Behaviors

Changing priorities include greater focus on considerations such as quality, performance, ingredients, and impact on hair/skin health. Inflation and the economy is a common theme impacting shopping behavior, priorities, and spending patterns. Overall slightly more consumers reported spending less in 2023 than the proportion spending more, but inflation and the rising costs of living was a factor either way.

Looking forward to 2024

Consumers anticipate spending more on hair and beauty in 2024 than they did in 2023. While half anticipate that their spending and consumption patterns will remain the same, they are more likely to predict increase rather than decreased spending.