HOME | STATS | PUBLICATIONSREGISTER  | ADVERTISE  | CONTACT US | SEARCH


 15th Annual Edition
'Buying Power of Black America' report breaks down billions in expenditures

Black consumers are responding to tighter economic condition by focusing more of their spending on items 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...
Story continued...

_________________


 Register Here 
STAY IN-THE-KNOW!
Are you getting the latest industry news when it happens via e-mail
?



Click here for free delivery of the Target Market News Bulletin
You'll receive news of breaking stories, exclusives, updates and headlines on the latest developments in African American marketing and media

 Black Stats  
Frequently requested data on African American consumers

Black Buying Power:
 $803 Billion (2008)

Black U.S. Population:
 41.1 million

Top Five Black Cities
 - New York
 - Chicago
 - Detroit
 - Philadelphia
 - Houston

Top Five Black Metros:
 - New York-New Jersey
 - Washington-Baltimore
 - Chicago-Gary
 - Los Angeles
 - Philadelphia

Top Five Expenditures:
 - Housing $166.3 bil.
 - Food $65.3 bil.
 - Cars/Trucks $31.5 bil.
 - Clothing $26.9 bil.
 - Health Care $23.9 bil.

Click here for more stats from "The Buying Power of Black America."
______________________
Get quick access to key
U.S. Census 
Bureau Data

Click here to go to African-American Census Bureau data

_____________________


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
 

KFC unveils plans to increase targeted ad dollars and diversity at PUSH conference

(June 15, 2010) During a press conference at the Rainbow PUSH Coalition & Citizenship Education Fund 39th annual conference, KFC announced a renewed commitment to diversity. KFC President Roger Eaton shared the company's new commitments and outlined plans to grow the number of minority franchisees, employees and suppliers in its system and the plans to increase marketing dollars spent with minority-owned agencies.

"At KFC, we are very proud of our diversity track record and the progress we've made over the years, but we realize there is more we can do," said Roger Eaton, KFC president.

Specifically, the company has committed to the following:

- Hiring a diversity director whose sole responsibility will be to ensure the new targets are met

- Creating more business and employment opportunities for minorities by increasing the number of franchise minority-owned restaurants by 33% by the year 2016

- Establishing a minority capital program that will facilitate access to capital and recruit and aid prospective minority franchisees, with a particular emphasis on African American and Hispanic business owners

- Growing employee diversity by increasing minority representation at the director level and above by 25% by the year 2016

- Partnering with minority-owned marketing firms to develop marketing plans to best reach minority customers and to purchase up to 10% of KFC's national media funds

- Achieving 10% minority and women supplier purchasing by the end of this year and to increase that to 12.5% over the next five years

"One of the main reasons we gather this week is to address the lingering disparities that plague communities of color and low-income neighborhoods," said Rev. Jesse Jackson, head of the Rainbow PUSH Coalition. "As we seek to close disparities and create jobs and opportunity in underserved and under resourced communities, we must build viable, strong, black and brown business enterprises."

Congresswoman Maxine Waters (D-CA) also participated in the press conference and connected the lack of access to capital for women and minorities to huge wealth disparities between races.

"An Institute on Assets and Social Policy study found that middle-income white families hold many more assets (stocks, bonds, business interests, real estate other than primary residence) than do high-income black families and that many black families hold more debt than assets, and at least 25 percent of black families have no assets to turn to in times of economic hardship," Rep. Waters stated. "It is time for us to renew our efforts to bring about opportunities for women and minorities. Over the past 10 years we have dropped the ball. We need to be making announcements similar to this one once or twice a week. I am pleased with KFC and Roger Eaton because he has set specific targets that can make a difference."


Go to Target Market News homepage

RECENT STORIES
L.A. Sentinel publisher, Bakewell Media, reaches terms to buy L.A. Watts Times

Andrew Langston, founder and CEO of Rochester, NY station WDKX, dies at 83

Tom Joyner extends his listener reach in Chicago with addition of POWER 92 FM

Tom Burrell, ad pioneer, launches national campaign backing black artists

BMW partners with Jamie Foxx's FoxxHole satellite radio channel

Tri-State Defender newspaper and WMC-TV Action News 5 announce partnership

Black Cable TV Ratings for Wk. of May 31 - June 6 NBA games off cable gives Nickelodeon opening with black viewers

Maynard Institute gets $1 million to improve media coverage of racism

Michael Jack named President and General Manager at New York's WNBC-TV

Black TV Ratings for Week of May 31 - June 6 NBA Finals draw record-setting black audience in prime time for ABC network


 


 $100 Discount Extended! 








_________________________________________________________________________________________