Commentary

African American Buying Power

African American Buying Power

According to The U.S. African American Market, a new research report published by Packaged Facts, the buying power of African Americans in the United States is expected to increase nearly 30% to $682 billion in the next 5 years.

The report states that in the African American population there are 14.1% more women than men, and nearly half of the households within this demographic are headed by women, giving females a far more prominent role in consumer decisions than women in other ethnic population segments. In addition, there are 3.7 million affluent African Americans who are projected to have a combined buying power of $292.4 billion by 2006.

"Marketers have identified significant successes in targeting both the female and affluent segments of the African American population," said Meg Hargreaves, VP of Research Publishing for MarketResearch.com. "Luxury car makers and food and beverage manufacturers alike have focused their efforts on these market segments given the overwhelming influence they have in the market as a whole." Get more information here.

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