Weren"t able to attend the 2009 Marketing to African-Americans with
Excellence (MAAX) Summit? Order the workbook which contains hard
copies of the presentations made by some of the nation"s top experts on
Black consumer marketing, including:
Arbitron
Burrell Communications
Carol H. Williams Agency
FUSE Advertising
GlobalHue
Hunter-Miller Group
MEE Productions
Media Economics Group
Nia Enterprises
OwensMorris
Communications
Salon Sense Magazine Sanders\Wingo
Target Market News
The MasterMind Group
The Media Audit
The Nielsen Company
U.S. Census Bureau
UniWorld Group
...and more
Copyright (c)
2010 by Target Market News Inc. All rights reserved
Business address:
228 S. Wabash Ave.
Suite 210
Chicago, IL 60604
t.
312-408-1881
info@targetmarketnews.com
Target Market
News releases 15th annual 'Buying Power of Black America' report
Black consumers are responding to tighter economic conditions
by focusing more of their spending on productss and services that improve
their homes and lifestyle. That's one of the trends revealed in the 15th
annual report, "The Buying Power of Black America," published by Target
Market News.
The report analyzes spending for black households in 2008 and finds that
African-Americans began showing signs of the pending economic turmoil
that would hit the entire nation. The pattern of purchases shifted
dramatically in some categories. Contributions to churches and other
non-profits dropped 16% to $11 billion. Expenditures on personal care
products and services declined 10% to $6.6 billion. Spending on
alcoholic beverages decreased 6% to $2.8 billion.
Purchases of items related to the home continued to increase despite the
need for economic sacrifices. Appliance purchases grew 27% to $2.2
billion. Computers for home use climbed 28% to $3.5 billion. Consumer
electronic expenditures went up by 32% to $4.5 billion.
"African-American households are facing this economy by being more
focused in the purchases they make," said Ken Smikle, president of
Target Market News and editor of the "Buying Power" report. "In 2008
black consumers had total earned income of $803 billion. They ranked
17th among the economies of the world in comparable gross national
income. They continue to be a critical part of the American marketplace,
and will contribute substantially in the economic recovery of American
business."
Apparel
Products and Services
$26.9 billion
Appliances
2.2 billion
Beverages (Alcoholic)
2.8 billion
Beverages (Non-Alcoholic)
3.1 billion
Books
289 million
Cars
and Trucks - New & Used
31.5 billion
Computers
3.5 billion
Consumer Electronics
4.5 billion
Contributions
11.0 billion
Education
71 billion
Entertainment and Leisure
2.8 billion
Food
65.3 billion
Gifts
3.5 billion
Health
Care
23.9 billion
Households Furnishings and Equipment
12.9 billion
Housewares
836 million
Housing
and Related Charges
166.3 billion
Insurance
19.0 billion
Media
8.3 billion
Miscellaneous
4.4 billion
Personal Care Products and Services
6.6 billion
Sports
and Recreational Equipment
1.0 billion
Telephone Services
17.2 billion
Tobacco
Products and Smoking Supplies
3.1 billion
Toys,
Games and Pets
2.4 billion
Travel,
Transportation and Lodging
6.4 billion
The "Buying Power"
report's 100-Plus Index section shows how black households continue to
spend on average more than their white counterparts in categories such
as food, apparel, appliances, personal care products and services and
phone service.
"The Buying Power of Black America" is the nation's most quoted source
on the billions of dollars spent annually by African-American consumers
on goods and services. The report is a comprehensive research source
that has been used by hundreds of Fortune 1000 companies. The report
provides updated information in five sections:
- Black Income Data
- Purchases in the Top 30 Black Cities
- Expenditure Trends in 26 Product & Services Categories
- Demographic Data on the Black Population
Copies of the Buying Power of Black America can be purchased from Target
Market News for $99 each. Local market editions are also available at
$99 for the top 45 African-American metropolitan areas. For more
information call 312-408-1881, or
click here to
purchase online.
