According to a comprehensive BET survey of the African-American community recently released, African Americans in 2008 accounted for a 10% increase in population from 2008 versus 2000, while
African-American buying power increased more than 55% during the same period to $913 billion. By the year 2013 black buying power will reach $1.2 trillion dollars, a 35% increase versus 2008.
"African Americans Revealed" study of more than 80,000 African-American consumers on multi-media engagement and digital applications, shows African-Americans are very tech savvy, with
roughly 31% of African American discretionary spending dollars, or $39 billion, going toward the purchase of computers, cell phones and electronics - a proportionally higher percentage when compared
- Spend more weekly time online (18 hours) than watching television (15 hours)
- 93% go online traditionally via their
PC's, while 76% access the web via their cell phones
- 60% have downloaded music, a TV show, movie or ringtone in the previous month
- 50% regularly update and access
a social networking account
The included segmentation study revealed that African-Americans are not a monolithic group but rather break down into seven distinct groups defined by
similar characteristics, including buying power and habits, media consumption, and influences:
- The Strivers are mostly in their late 20's to early
40's and are adventurous, fashionable, social mavens and opinion leaders who have their eyes on climbing the executive ladder
- Conscious Sisters are selfless
women that are spiritually connected and highly conscious of their culture
- Tech-Fluentials are digitally savvy and travel in globally conscious circles
- Bright Horizons are young adults in high school and college that are aware of all available technology and electronic gadgets
Circle Elites are working women rich in their cultural, ancestral and spiritual roots
- Urban Dreamers are young, urban adults who are social magnets and
trend setters intent on and focused on living life to the fullest
- Survivors are a group of risk-taking teen and young adult males who are hustling to keep their
existence in check
A 2010 Census study, within "African Americans Revealed," predicts that the upcoming Census count will find that 42 million African-Americans reside in the
U.S., a 13.4% increase from the 2000 Census - a higher growth rate than the projected 9.8% increase for the total U.S. population.
Matthew Barnhill, Senior VP of Corporate Research at BET
Networks, says "African Americans Revealed shows us that the black community should never be referred to as one homogeneous population... We hope this report will help organizations better
connect with an audience and intimately recognize all of its complexities."
For additional information about African-American buying power, please visit here.