Black women and spending

The “black” spending habit often stems from wanting social acceptance. The socioeconomic and psychological aspects of instant gratification have long plagued the financial sustainability of the black community.

On top of depreciable product spending, African American women spend more money on hair and makeup than any other race. A study conducted by Essence magazine, in conjunction with Vision Critical Group, reported that African American women spend 80 percent more on cosmetics annually and nearly twice as much on skin care products than general market women do annually.