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Friday, November 11, 2011

The State of the African-American Consumer Report

Release of report at The National Press Club
The State of the African-American Consumer Report found that black buying power is projected to reach $1.1 trillion by 2015. The study, which focuses on black spending, media habits and consumer trends, reported an increase in the amount of blacks attending college or earning a degree. It also found an increase in the number of African American households earning $75,000 or higher by almost 64 percent.

Nielsen partnered with the National Newspaper Publishers Association, also known as the Black Press of America, to release the report. The companies announced the results on Sept. 22.

Other notable findings in the report include:

• With a buying power of nearly 1 trillion annually, if Blacks were a country, they'd be the 16th largest country in the world

• Blacks make more shopping trips than all other groups, but spend less money per trip. Blacks in higher income brackets, also spend 300 percent more in higher end retail grocers more than any other high-income household.

• There were 23.9 million active Black Internet users in July 2011--76 percent of whom visited a social networking/blog site.

• Thirty-three percent of all Blacks own a smart phone.

• Black Americans use more than double the amount of mobile phone voice minutes compared to whites--1,298 minutes a month vs. 606.

(Huffington Post, Black Voices, 11/10/2011)

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