Black Stats Frequently requested
data on African American consumers
Black Buying Power:
$836 Billion (2010)
Black U.S. Population:
Top Five Black Cities
- New York
Top Five Black Metros:
- New York-New Jersey
- Los Angeles
Top Five Expenditures:
- Housing $203.8 bil.
- Food $65.2 bil.
- Cars/Trucks $29.1 bil.
- Clothing $29.3 bil.
- Health Care $23.6 bil. ______________________
Quick access to key stats
Click here to go to African-American Census Bureau
2010 by Target Market News Inc. All rights reserved
228 S. Wabash Ave.
Chicago, IL 60604
Joyner partners with PreCash, Bancorp Bank to offer the REACH Card
(January 6, 2011) Of the estimated 43 million Americans who are either
unbanked or underbanked, a disproportionate number are African American,
according to the FDIC's 2009 survey. Recognizing this issue, nationally
syndicated radio host Tom Joyner is partnering with PreCash to present
the REACH Visa Prepaid Card, issued by The Bancorp Bank, to empower more
African Americans and others to manage finances through an alternative
option to traditional banking by offering a simply priced prepaid debit
"In today's economy where every dollar counts, Americans are looking for
a way to manage their money, pay bills and they need a financial
stepping stone that doesn't have lots of surprising and confusing fees,"
said Tom Joyner, host of the nationally syndicated The Tom Joyner
Morning Show, which reaches an audience of more than eight million in
over 100 markets. "I think The REACH Card can empower people to take
control of their finances with a fairly priced prepaid card."
The card is issued by The Bancorp Bank; member FDIC, and cardholders'
deposits are FDIC insured up to $250,000. Further, all fees are
disclosed prior to purchase and there are no hidden fees. Consumers can
purchase The REACH Card online by visiting www.thereachcard.com.
"PreCash is excited to work with Tom Joyner to provide people without
access to traditional financial services the freedom of plastic with a
simply priced, easy to understand prepaid debit card," remarked Mia
Mends, General Manager of Prepaid Debit for PreCash. "In this
increasingly card-based economy, it is critical that unbanked
individuals have access to affordable electronic payment options so they
are not forced to use high cost, fringe products," added Mends.
The hope is The REACH Card will empower more African Americans, looking
for modern solutions to help manage their finances, to use this card as
a stepping stone to take control of their money and bring greater
financial stability to their lives. The REACH Card is also a good tool
for parents to teach teens and college students money management skills
at an early age because they can only spend the money that's on the
card. As with all prepaid cards, once the funds on the card are spent,
more can be added for additional usage.
Marketing plans for the REACH Card are focused on media properties
connected with Tom Joyner. Spots are airing on the Tom Joyner Morning
Show, and appear on his Web site, BlackAmericaWeb.com. The creative is
being handled in-house by PreCash.
Whether it's providing financial assistance to historically black
colleges and universities, and the students who attend those
institutions, through the Tom Joyner Foundation or working to promote
voter registration, Tom Joyner has helped to empower African Americans
in all facets of their lives.
JUST RELEASED New
"Buying Power" report: Black consumers spend as economy grows Details $507
1, 2010) African-American consumers are cautiously increasing their
spending in some key product categories, even as they continue to make
adjustments in a slowly growing economy. The finding comes from the soon
to be issued 16th annual edition of "The Buying Power of Black America"
In 2009, black households spent an estimated $507 billion in 27 product
and services categories. That"s an increase of 16.6% over the $435 billion
spent in 2008. African-Americans" total earned income for 2009 is
estimated at $836 billion...