Black Buying Power to Soon Reach $1 Trillion

By the year 2015, African-Americans will be spending $1.1 trillion a year on products and services.

Currently, the Black population in the U.S. has a buying power of nearly $1 trillion – a figure larger than the gross domestic product of most countries in the world.

The number of African-American households earning $75,000 or more has grown by 63.9 percent in the last decade, a rate greater than that of the overall population.

African-Americans shop more often than all other groups, but spend less money per trip because they make quicker/smaller purchases based on short-term needs.

These are just a few of the facts pulled from a new report compiled by the 71-year-old National Newspaper Publishers Association, known as the Black Press of America, and The Nielsen Company, a global monitor of media, marketing and consumer information.

NNPA leaders say the report, released Sept. 22, will generally empower African-Americans with the knowledge of their worth. But it will also empower Black newspapers with a new weapon – credible information about the power of Black consumers – to defeat advertising discrimination.

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Source: Hazel Trice Edney |

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