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
announces development program for minority-owned retail businesses
(January 25, 2011) Macy's has announced the creation of The Workshop at
Macy's, which aims to nurture and grow the next generation of minority
and women-owned retail talent. The specially-designed business
development curriculum of The Workshop is aimed at minority- and
women-owned retail businesses that are poised to succeed on a larger
scale, but need additional tools on business practices to move to the
next level and sustain growth.
The four and one half-day intensive training course, to be held in May
2011 at Macy's Herald Square offices in New York City, will be taught by
Macy's seasoned executives and industry experts, as well as key retail
partners. With this annual program, Macy's hopes to create a pipeline of
viable vendors that will grow to become successful partners within
Macy's own vendor community.
"Of the many initiatives Macy's, Inc. has pursued on behalf of our
expanding diversity strategy, supplier diversity is an area of special
importance," said Terry J. Lundgren, chairman, president and chief
executive officer of Macy's, Inc. "The Workshop at Macy's is the latest
example of our continued commitment to support and grow certified
minority- or women-owned retail vendors."
The Workshop at Macy's will allow selected participants to collaborate
with fellow aspiring vendors, gain access to industry experts and
solicit one-on-one business coaching. The course work includes classes
on Strategic Planning, Merchandising and Assortment Planning, Branding,
Sales and Marketing, and Access to Capital. The curriculum was designed
by a consortium of experts from Macy's Learning & Development, Macy's
Multicultural Merchandising and Vendor Development, Babson College, the
nation's leading business school for entrepreneurship, and with select
"The Workshop at Macy's will help us to identify and cultivate talent
within the minority and women-owned small business community that will
keep us at the forefront of innovation and continue to enhance our
overall diversity strategy," said Shawn Outler, Macy's group vice
president of Multicultural Merchandising and Vendor Development. "Our
support will provide these up and coming vendors with the necessary
tools to succeed on a wider scale, as well as build a pipeline of
exemplary vendors ready and able to provide our customers with unique
merchandise that speaks to their various lifestyle needs."
To promote the inaugural program, Macy's enlisted a few key vendors from
its ranks to give a face to supplier diversity success at Macy's. One
such partner is Lisa Price, founder of Carol's Daughter, who will be one
of the program's expert panelists. "I know first-hand the challenges
small business owners face when looking to grow a successful venture and
take it to the next level," commented Price. "This program will be an
extremely valuable tool for participants to learn from the best in the
business. Hopefully what they take away from the program will help them
identify and create opportunities that will result in long-lasting
Macy's is now accepting entries for consideration. To be eligible, an
applicant must be the majority (51 percent or more of equity) owner,
co-owner or otherwise have operational control (per applicable status
rules) of a business that has been in operation for a least two
consecutive years and be its primary decision maker. Eligible
applications will include a 250-word biographical statement, look
book/line sheets or images of product including costs, resumes on all
owners, audited financial statements for the business for two years,
fall within the minority- and women-owned definition of the program and
provide verification of the business as a legal entity (i.e.
Corporation, LLC, etc.), among other requirements.
Applications must be submitted by 5 p.m. on Friday, Feb. 11, 2011 online
or by mail. All information including full program requirements are
available online at www.macysinc.com/workshop. All eligible applications
will be reviewed and selected applicants will be asked to attend an
in-person interview. Final selections will be made after all prospective
candidates are interviewed. The program will aim to invite at minimum 20
candidates to attend the course which begins on May 9, 2011.
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...