Thursday, February 23, 2006

Report: African-American Buying Power

African-American Market to Reach Almost $1 Trillion by 2010
Progressive Grocer, Feb. 23, 2006

"Having roughly the same purchasing power as Hispanics, African-Americans tend to be left behind when it comes to marketing and advertising because Hispanics are expected to have more rapid population growth," said Don Montuori, the publisher of Packaged Facts. "Marketers would be wise, however, to tap into the African American segments that outpace their Hispanic counterparts, such as those with incomes greater than $50,000; owner-occupied households; married-couple families; and African American women--all sectors which offer huge potential in the consumer goods markets."According to the report, "The U.S. African-American Market," which for the first time examined the black population from a regional perspective, African-Americans in the West and Northeast have higher average incomes than those in the Midwest and the South, and consequently account for a disproportionate share of the aggregate income of African Americans.

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