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The Business of Black Beauty: Consumer Needs, Investments and Resilience
October 21, 2020 @ 1:00 PM – 2:30 PM
U.S. Black consumers spend $1.2 trillion annually, with shoppers spending an estimated $127 million on grooming aids and $465 million on skin care. However, according to the Census Bureau only $2.5 million is contributed to Black-owned businesses and a Stanford University study found that only 1% receive loans in their first year. That’s seven times lower than the percentage for white businesses. During the beginning of the COVID-19 pandemic, 41% of the Black businesses closed as compared to 17% of White-owned businesses.
Join our panel of top entrepreneurs and investors as we address and highlight:
Disparities and challenges of Black-owned businesses and ways to successfully build and market beauty products to consumers
Startups making breakthroughs in the Black beauty and skincare industry
Accessibility to financial capital and funding opportunities