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 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...
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 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."
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U.S. Census 
Bureau Data

Click here to go to African-American Census Bureau data

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MassMutual enhances its outreach to African-American consumers

(October 1, 2010) Massachusetts Mutual Life Insurance Company (MassMutual) has announced a multifaceted outreach program designed to deepen its connection with African-American consumers and attract new talent to the mutual life insurance company.

National advertising, marketing materials, an enhanced Web presence, public relations and strategic relationships with national organizations are all part of MassMutual's intensified effort to connect with the African-American community.

"MassMutual's network of financial professionals wanted the company to have a stronger voice and show all that it can do to be a trusted partner in the African-American community," said Nicole Bremser, director of multicultural market development.  "We have created tools to help MassMutual agents build sustainable relationships with the important, and growing, African-American consumer population."

Print advertisements seen in recent issues of Black Enterprise, The Green Magazine, Newsweek and the Ivy League Network can be customized for agents' business development purposes.  A new landing page on MassMutual.com has been created for African-American consumers to learn more about MassMutual and to access financial education tools. The resources can be accessed at massmutual.com/africanamerican.

Additionally, materials and training information have been created to provide background on cultural nuances and insights that will be helpful as agents serve African-American clients.  These materials are informed by proprietary research that MassMutual conducted to deepen its understanding of African-American consumers.

MassMutual is also committed to expanding its talented network of African American financial professionals by working with various colleges and universities throughout the country, participating in recruiting venues and reaching out directly to African American communities. The company also plans to create more awareness for the financial services career by sharing success stories of their African-American agents.

The company is working with The Axis Agency (public relations) and Footsteps Group (advertising) as its multicultural marketing and communications partners. Both agencies have proven expertise in assisting major brands seeking to engage African-American audiences.  Clients of The Axis Agency include the U.S. Army, CVS/pharmacy, and RushCard.  Footsteps' clients include Gillette/P&G, the American Cancer Society and Nissan.

Visit www.massmutual.com to learn more or to contact a qualified financial professional.

Go to Target Market News homepage

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