http://www.huffingtonpost.com/2011/11/1 ... 86369.html
Blacks will have more money to spend on goods and services, according to a recent report.
The State of the African-American Consumer Report found that black buying power is projected to reach $1.1 trillion by 2015, The Louisiana Weekly reports.
The study, which focuses on black spending, media habits and consumer trends, reported an increase in the amount of blacks attending college or earning a degree to 44 percent for men and 53 percent for women. It also found an increase in the number of African American households earning $75,000 or higher by almost 64 percent.
"By sharing, for example, that African Americans over-index in several key areas, including television viewing and mobile phone usage," said Susan Whiting, vice chair of information and analytics company Nielsen. "We've provided a better picture of where the African American community can leverage that buying power to help their communities."
Nielsen partnered with the National Newspaper Publishers Association, also known as the Black Press of America, to release the report. The companies announced the results on Sept. 22 at the 41st Annual Legislative Congressional Black Caucus Foundation Conference.
"Too often, companies don't realize the inherent differences of our community, are not aware of the market size impact and have not optimized efforts to develop messages beyond those that coincide with Black History Month," said NNPA chairman, Cloves Campbell. "It is our hope that by collaborating with Nielsen, we'll be able to tell the African American consumer story in a manner in which businesses will understand, and, that this understanding will propel those in the C-Suite to develop stronger, more inclusive strategies that optimize their market growth in Black communities, which would be a win-win for all of us."
Other notable findings in the report include:
•With a buying power of nearly 1 trillion annually, if Blacks were a country, they'd be the 16th largest country in the world
•Blacks make more shopping trips than all other groups, but spend less money per trip. Blacks in higher income brackets, also spend 300 percent more in higher end retail grocers more than any other high-income household.
•There were 23.9 million active Black Internet users in July 2011--76 percent of whom visited a social networking/blog site.
•Thirty-three percent of all Blacks own a smart phone.
•Black Americans use more than double the amount of mobile phone voice minutes compared to whites--1,298 minutes a month vs. 606.
This is not the first report to find a growth in black spending. In 2010 the African-Americans Revealed study reported that black buying power was at about $913 billion with a projected increase to $1.2 trillion by 2013. Boyce Watkins, a professor of business at Syracuse, said he was not surprised by studies with these kinds of results.
"Unfortunately, when African-Americans make money, we spend it. We don't use it to invest or produce," he told BlackAmericanweb.com. "When we get our tax refund, we go straight to the store."
Imagine if Blacks invested into their own communities, into their own businesses. The Black ghettos could possibly look like the Hamptons or Beverly Hills if the blacks wised up and spent their money on black empowerment. Or better yet blacks investing their U.S dollar into African countries such as Nigeria.
1.00 USD = 199.23 NGN
I don't understand why blacks would fight to have equality in a country that once enslaved them whether by Jews or Whites. With spending wisely we can create our OWN country. Yet still we follow these dumb rappers who've been in and out of jail and don't even have a high school diploma! They tell you to do illegal things and go to jail. We need Black aristocrats or Afristocrats to lead us, the best of the best to make our decisions. The major thing Blacks need is education, and to leave xianity and Islam alone. Blacks are the most people involved in church they stay for a 3 hour service and some go to 2 or 3 services. Wasting the entire day praising Jews and they wonder why they're in the condition they're in. Blacks need political and economical freedom not dependency on other races for products.