WINTER PARK, Fla. — Cosmetic Promotions has announced a new sampling program for manufacturers targeting Hispanic and African-American consumers.
Citing a recent study by the Selig Center, Cosmetic Promotions stated that the African-American buying power topped $1.04 trillion last year and is growing faster than all other population segments combined since 2000. And Nielsen reported that Hispanic buying power, likewise, has topped $1 trillion annually and is expected to grow another 50% by 2017.
Over the next five years, Hispanics will account for 60% of U.S. population growth, and the number of Latino households earning more than $50,000 will double. Hispanics also are boosting the youth population; according to census data, more than 60% of all U.S. Hispanics are under the age of 35 years. With the largely Caucasian baby boomer generation poised to retire, the young Latino workforce takes on added importance. Therefore, it’s more important than ever to target-market to these demographics, according to Cosmetic Promotions.
Cosmetic Promotions has found that offering free samples at community and cultural events is a great way to improve sales and “bounce” consumers back to certain stores in their area, the company stated. Some 89% of all first-time purchases are the result of a trial.
For less than 28 cents per sample, Cosmetic Promotions has stated that it is currently offering manufacturers the opportunity to join in 10 upcoming events (five Hispanic and five African-American) and distribute up to 20,000 samples. Samples are collated into themed bags and distributed person to person at such events as the 21st Annual Capital Jazz Festival in Maryland, the Odunde African American Festival in Philadelphia, the San Juan Bautista Hispanic Heritage Parade and Festival in Camden, N.J., and the National Puerto Rican Day Parade in New York City. In addition to the direct sampling, manufacturers’ logos will be seen by more than 1 million people at these events.