Hispanic women are revolutionizing the U.S cosmetics market
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Hispanic women in the United States are the fastest-growing and highest-spending market segment for cosmetics, with remarkable loyalty to brands and a better response to social networking strategies, with even celebrities launching their own product lines.
“All Latinas, from the time we’re little girls, put on makeup. We steal mommy’s lipstick and play at being women. We like to be pretty, and it’s a part of our personal care,” soap opera actress and cosmetics entrepreneur Gaby Espino.
Nielsen estimates that $62 billion will be spent on “beauty” in the United States in 2016, with 13 percent flowing out of Latinas’ wallets.
Millennial Latinas born between 1991 and 1997 are the fastest-growing segment in this market, with $170 billion in total purchasing power, womensmarketing.com said.
A study by the Univision network and Vital Findings determined that Latinas spend twice as much as all other women in the United States on beauty products.
For every $21 a non-Hispanic woman shells out for cosmetics, her Latina sister spends $44.
Big Cosmetics is paying attention to the trend.
MAC Cosmetics, a unit of Estee Lauder, will launch a special line in October inspired by late Tejano musician Selena Quintanilla in response to a campaign spawned on social networks.
Neutrogena hired two Mexican soap opera stars, Eiza Gonzalez and Sandra Echeverria, as spokeswomen for the Hispanic market, while Cover Girl employs Colombian actress Sofia Vergara and L’Oreal promotes a lipstick and nail polish line in “nude” colors inspired by Jennifer Lopez.
