Tuesday, November 10, 2009

African American Market Power

With African American buying power project to reach $1.2 trillion by 2013 marketers are already looking for ways to capitalize on those dollars. Understand this, simply featuring an African American in your campaign does not work, you MUST recognize and speak to the distinctions with in this consumer segment.

African American buying power in 2008 in 2008 stood at $913 Billion Dollars up 187% from the $318 Billion in 1990

86% of African American women say advertisers need to do a better jog marketing to them especially in the automotive, banking, travel, heath care and fast food industries

Projected percent of African Americans share of the nation’s total buying power will be 8.8% in 2013.

The average African American teen spends $96.00 a month on average. That is 20% more than the average US teen of any demographic group.

An African American is more likely that the average US consumer to respond to a company’s efforts to be more environmentally responsible

African Americans recall magazine ads 9% more frequently and take action to them 15% more often compared to all other reader groups.

Larson Notes: If these numbers don’t make you stand up and take notice I have to wonder about you.

Howard Larson
Larson & Associates
Target Marketing & Telesales Professionals for new account acquisition
Making good businesses great and great businesses even better


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