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 Black Stats          
Frequently requested data on African American consumers

Black Buying Power:
  $744 Billion (2006)

Black U.S. Population:
  38.3 million

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

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  - Washington-Baltimore
  - Chicago-Gary
  - Los Angeles
  - Philadelphia

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 - Food $59.2 bil.
 - Cars/Trucks $32.1 bil.
 - Clothing $27.7 bil.
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Citi shows signs strong saving and spending habits by black Chicagoans

(July 31, 2009) Citi today announced the results of the first part of a new study of consumer sentiment among low- to moderate-income African-American and Hispanic communities. Among respondents in the Chicago area, findings show that both communities are expressing more optimism about the national economic outlook than a cross-ethnic, representative national sample. Similar populations were surveyed in New York, Miami, Los Angeles, San Francisco and Washington, D.C., and those results will be released soon.

Among the key findings:

Eighty-two percent of the African-Americans surveyed said they believe the economy will improve (48 percent) or stay the same (34 percent) over the next six months.

Seventy-five percent of the Hispanic residents surveyed said they believe the economy will improve (49 percent) or stay the same (26 percent) for the same period.

In comparison, 67 percent of the respondents in the cross-ethnic, national sample said they think the economy will improve (38 percent) or stay the same (29 percent).

In terms of the local economy, 72 percent of the Chicago-area African-Americans surveyed believe that their local economy will improve (22 percent) or stay the same (50 percent) over the next six months. This is similar to the results from the respondents in the cross-ethnic, national sample, 73 percent of whom believe that their local economy will improve (22 percent) or stay the same (51 percent). However, among the Chicago-area Hispanics polled, a full 81 percent believe that their local economy will improve (28 percent) or stay the same (53 percent) for the same period.

This first part of this new study also suggests that -- despite their measured optimism -- LMI African-American and Hispanic respondents are taking a more cautious approach in their spending and saving practices than members of the cross-ethnic, national sample. Among the Chicagoans surveyed, 86 percent of African-American respondents and 91 percent of Hispanic respondents said they have taken or will take a more measured approach to spending, versus 81 percent in the cross-ethnic, national sample. Eighty-four percent of African-Americans surveyed and 79 percent of Hispanics surveyed said they have taken or will take a more active role in managing their finances, versus 76 percent in the cross-ethnic sample. And 80 percent of African-Americans and 74 percent of Hispanics said they have or will put more money into savings, versus 66% in the cross-ethnic sample.

“Our study shows a measure of optimism among African-American and Hispanic people,” said Eric Eve, Senior Vice President of Global Community Relations, “and also suggests that they are taking the steps necessary to protect their financial future, such as increasing their savings and being more vigilant about managing their finances. Through our work and our network of partnerships with organizations like the National Urban League, Citi is committed to helping communities and citizens across the country as they navigate these difficult financial times.”

Citi continually polls consumers across the country in markets it serves to make sure it continues to address their needs.

Overview of Key Findings

Eighty-two percent of the African-Americans surveyed say they believe the economy will improve (48 percent) or stay the same (34 percent) over the next six months. Seventy-five percent of the Hispanic residents surveyed said they believe the economy will improve (49 percent) or stay the same (26 percent) for the same period. In comparison, 67 percent of respondents in the cross-ethnic, national sample said they think the economy will improve (38 percent) or stay the same (29 percent).

Sixty-two percent of African-Americans polled expect the number of jobs to increase (32 percent) or stay the same (30 percent). Sixty-five percent of Hispanics polled expect the number of jobs to increase (37 percent) or stay the same (28 percent). Among respondents in the cross-ethnic, national sample, 63 percent expect the number of jobs to increase (31 percent) or stay the same (32 percent).

In terms of the local economy, 81 percent of Hispanics polled believe their local economy will improve (28 percent) or stay the same (53 percent) over the next six months. Among respondents in the cross-ethnic, national sample, 73 percent believe that their local economy will improve (22 percent) or stay the same (51 percent). Seventy-two percent of African-Americans surveyed believe their local (Chicago) economy will improve (22 percent) or stay the same (50 percent) over the same period.
Key Findings on Chicago’s African-American Community

Eighty-six percent of Chicago-area African-American respondents said they have taken or will take a more measured approach to spending, versus 81 percent in the cross-ethnic, national sample.

Eighty percent of Chicago-area African-American respondents (versus 77% in the cross-ethnic, national sample) said they have begun or plan to begin following a budget.

Eighty-four percent of Chicago-area African-American respondents said they have taken or will take a more active role in managing their finances. This is much higher than the 76 percent of respondents in the cross-ethnic, national sample who said this.

Eighty percent of Chicago-area African-American respondents say they have or plan to put more money into savings. This figure is sharply higher than for the cross-ethnic, national sample (66 percent).

An online quantitative survey was conducted of 301 respondents nationally, including six major cities: New York, Miami, Chicago, Los Angeles, San Francisco and Washington, D.C. The national sample included individuals who are fully or partially responsible for household decisions; have a relationship with a bank; and are over 21 years-old; and generate income of at least $35,000 annually. An additional Chicago sample of 50 African-Americans and 43 Hispanics included participants with annual incomes of $25,000 to $50,000.

About Citi Global Community Relations

Citi Global Community Relations (GCR) builds on Citi's 200-year history of service, success and innovation by leveraging Citi's financial expertise, global network and programmatic resources to support and serve communities around the world. Working in partnership with community organizations, the Citi Foundation and Citi businesses, GCR develops and executes strategies to support underserved populations in more than 140 countries where Citi has a presence. In 2008, Citi and the Citi Foundation provided more than $140 million and 400,000 volunteer hours to make communities better. Additional information can be found at: http://www.citigroup.com/citi/citizen.
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Target Market News
Congratulates the
Recipients of the 2009



Advertising Executive
of the Year
CLIFF FRANKLIN

CEO
FUSE Advertising


Media Executive 
of the Year
LOUIS CARR
President. Broadcast
Media Sales
BET


Marketing Executive
of the Year
CRYSTAL WORTHEM
Multicultural Marketing Manager
Ford Motor Co.


Research Executive
of the Year
ESTHER FRANKLIN
Executive Vice Pres.,
Director of Cultural Identities
Starcom Mediavest  Group


Public Relations Executive
of the Year
KIM HUNTER

President / CEO
LAGRANT COMMUNICATIONS


Lifetime Achievement Award
JOHNATHAN RODGERS

President
TV One






"UNDER THE INFLUENCE"

Tracing the Hip-Hop Generation's Impact on Brands, Sports, & Pop Culture

By Erin O. Patten

Hip-Hop culture has had a profound impact on marketing in the past two decades and it provided an intersection for brands, sports, and popular culture. Erin O. Patton documents this impact in his new book, Under the Influence--Tracing the Hip-Hop Generation's Impact on Brands, Sports, & Pop Culture. 

Adam Graves, senior vice president of Deutsch Advertising says of Under the Influence and Patton: "If there are any marketers out there that still think they can ignore the urban market they'd better think again...This isn't just a book for so-called urban marketers; this should be mandatory reading for every marketer in the country."

Click here to order



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