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Nielsen,
NNPA release report, 'The State of the African-American Consumer'
(September 22, 2011) African-Americans' buying power is expected to reach
$1.1 trillion by 2015, according to The State of the African-American
Consumer Report, released yesterday at a Washington, DC press conference.
The document was collaboratively developed by Nielsen, a leading global
provider of insights and analytics into what consumers watch and buy, and
The National Newspaper Publishers Association (NNPA), a federation of more
than 200 Black community newspapers across the U.S.
This growing economic potential presents an opportunity for Fortune 500
companies to examine and further understand this important, flourishing
market segment. Likewise, when consumers are more aware of their buying
power, it can help them make informed decisions about the companies they
choose to support.
"Too often, companies don't realize the inherent differences of our
community, are not aware of the market size impact and have not optimized
efforts to develop messages beyond those that coincide with Black History
Month," said Cloves Campbell, chairman, NNPA. "It is our hope that by
collaborating with Nielsen, we'll be able to tell the African-American
consumer story in a manner in which businesses will understand," he said,
"and, that this understanding will propel those in the C-Suite to develop
stronger, more inclusive strategies that optimize their market growth in
Black communities, which would be a win-win for all of us."
The report, the first of annual installments in a three year alliance
between Nielsen and NNPA, showcases the buying and media habits and
consumer trends of African-Americans.
The 41st Annual Legislative Congressional Black Caucus Foundation
Conference week's activities set the backdrop for the announcement.
Flanked by civic, business and legislative leaders, Nielsen and NNPA
executives spoke about the relevance and importance of the information
shared in the report and the fact that it will be distributed in NNPA's
200+ publications, reaching millions of readers and online viewers.
"We see this alliance with NNPA as an opportunity to share valuable
insights, unique consumer behavior patterns and purchasing trends with the
African-American community," said Susan Whiting, vice chair, Nielsen. "By
sharing, for example, that African-Americans over-index in several key
areas, including television viewing and mobile phone usage, we've provided
a better picture of where the African-American community can leverage that
buying power to help their communities," she said. "Likewise, the
information points businesses in the right direction for growing market
share and developing long range strategies for reaching this important
demographic group."
Consumer trends in the report include facts such as:
•With a buying power of nearly $1 trillion annually, if African-Americans
were a country, they'd be the 16th largest country in the world.
•The number of African-American households earning $75,000 or higher grew
by almost 64%, a rate close to 12% greater than the change in the overall
population's earning between 2000 and 2009. This continued growth in
affluence, social influence and household income will continue to impact
the community's economic power.
•African-Americans make more shopping trips than all other groups, but
spend less money per trip. African-Americans in higher income brackets,
also spend 300% more in higher-end retail grocers more than any other high
income household.
- There were 23.9 million active African-American Internet users in July
2011 -- 76% of whom visited a social networking/blog site.
-33% of all African-Americans own a smart phone.
- African-Americans use more than double the amount of mobile phone voice
minutes compared to Whites -- 1,298 minutes a month vs. 606.
- The percentage of African-Americans attending college or earning a
degree has increased to 44% for men and 53% for women.
The report is also available at
www.nielsen.com and
www.nielsen.com/africanamerican -- Nielsen's microsite which
highlights tailored information to the African-American community.
Go to Target Market News homepage
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