This week I want to plant a seed. I just want to share some facts and allow you to draw your own conclusions. I will follow up next week and share my insights.
Source of information Nielsen African American Consumer Reports (2013 & 2015)
- Black buying power is forecasted to be $1.3 Trillion by 2017.
- Blacks commit 18% of their annual retail dollars to store brands.
- Blacks spend nine times more than any other ethnic group on ethnic hair and beauty aids.
- Black watch 37% more television than other ethnic group. Black women outpace Black men in this area.
- 29.4% of the Black population is under the age of 18 compared to 24.6% of the total population and 23.3% of the white population
- In 1976, only 41.6% of Black high school graduates were enrolled in a college university. That percentage rose to 70.9% in 2014, exceeding the rate of non-hispanic whites and the total population.
- Real median househould income increased among Black households (+$793) than among white households (+$433) and more than the total population, according to the US Census.
- The percentage of Black households earning $200,000+ increased 138% from 2005-2015, far outpacing the rate for the total population (74%).
- 31 million Blacks are reached each week through radio.
- 55% of Blacks live in the South
- Only 3% of advertising dollars is spent with media focused on Black audiences.
- Smartphone penetration is 83% in the Black community compared to 78% for the total population.
This is just a sample of the wealth of information shared in the Nielsen African American Consumer report.
So, what do you think? Share your thoughts and leave a comment below. We would love to hear your feedback.
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