Spending patterns for African Americans (Data from Target Market News)
The total buying power for African Americans is estimated at $630 billion, according to Target Market News. Here is a breakdown:
Apparel Products and Services |
$22.9 billion |
Appliances |
$1.5 billion |
Beverages (Alcoholic) |
$2.2 billion |
Beverages (Non-Alcoholic) |
$2.9 billion |
Books |
$303 million |
Cars, Trucks and Motorcycles |
$29.1 billion |
Computers and Related Equipment |
$1.9 billion |
Consumer Electronics |
$3.2 billion |
Contributions |
$10.3 billion |
Education |
$4.6 billion |
Entertainment and Leisure |
$2.5 billion |
Food |
$53.9 billion |
Gifts |
$7.9 billion |
Health Care |
$16.7 billion |
Household Furnishings and Equipment |
$11.6 billion |
Housewares |
$1.1 billion |
Housing and Related Charges |
$131.7 billion |
Insurance |
$14.8 billion |
Media |
$5.3 billion |
Personal Care Products and Services |
$6.2 billion |
Sports and Recreational Equipment |
$386 million |
Telephone Services |
$13.6 billion |
Tobacco Products and Smoking Supplies |
$2.6 billion |
Toys, Games and Pets |
$1.9 billion |
Travel, Transportation and Lodging |
$5.1 billion |
What influences Black Buying Power?
The Selig Center, based at the University of Georgia, projects that the nation's black buying power will rise to $1 trillion in 2010. That would be an increase of 222 percent in 21 years. In 2010, the nation's share of total buying power that is black will be 8.6 percent, up from 8.4 percent in 2005 and up from 7.4 percent in 1990. Nationally, African-American consumers will account for almost nine cents out of every dollar that is spent, according to the study.
The study suggests that the increase in the number of black-owned firms is a reason for this increased buying power. A Census Bureau study found that the number of black-owned firms increased almost four times faster than the number of all U.S. firms, although their receipts grew more slowly than the others.
Still another positive factor pushing up the group's buying power is that African Americans are benefiting from rising levels of education. Census data show that the proportion of blacks with high school diplomas rose by 10 percent from 1993 to 2003, and that gain was the largest reported for any group.
Black Buying Power in States Where Black Pages USA is published (The Selig Center for Economic Growth at the University of Georgia)
State |
2004 |
2005 |
2006 |
2007 |
Virginia |
$ 30.3 billion |
$ 32.2 billion |
$ 34.2 billion |
$ 36.3 billion |
North Carolina |
$ 32.5 billion |
$ 34.4 billion |
$ 36.5 billion |
$ 38.6 billion |
South Carolina |
$ 19.2 billion |
$ 20.3 billion |
$ 21.4 billion |
$ 22.7 billion |
Georgia |
$ 49.4 billion |
$ 53.3 billion |
$ 57.4 billion |
$ 61.8 billion |
Florida |
$ 43.2 billion |
$ 46.2 billion |
$ 49.3 billion |
$ 52.7 billion |
Projected Growth in Black Buying Power
State |
2008 |
2009 |
% change ’04-‘09 |
Virginia |
$ 38.6 billion |
$ 41.0 billion |
35% |
North Carolina |
$ 40.9 billion |
$ 43.3 billion |
33% |
South Carolina |
$ 23.9 billion |
$ 25.3 billion |
32% |
Georgia |
$ 66.6 billion |
$ 71.7 billion |
45% |
Florida |
$ 56.2 billion |
$ 60.1 billion |
39% |
Can Black Pages USA help you?
If you are looking to reach the African American demographic with a product or service, Black Pages USA can be an effective solution. But don’t just take our word for it, read what one of our clients has to say.
Blue Cross Blue Shield of Florida was looking to increase the number of African Americans who are covered by its products. The insurance provider decided to include advertisements in Black Pages USA as part of its 2006 strategy.
“Part of our corporate productivity index is measured by the increased visibility in the African American community. It made sense for us to advertise in this publication because that is one of our number one markets that we are focused on,” said Cal Jackson, senior diversity consultant with Blue Cross Blue Shield of Florida. “We are also a presenting sponsor of the Black Expo Jazz Gala and the Black Expo Health Fair, both of which take place in the Florida Black Expo in Jacksonville.”
Blue Cross Blue Shield’s membership among African Americans is now on the upswing.
“There was an increase in our membership last year,” Jackson said. “And one of the reasons why was Black Pages USA.”
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