Saturday, June 21, 2008

U.S. African American Buying Power to Hit $1.1 trillion by 2012

Flavor FlavNewswireToday - /newswire/ - London, United Kingdom, -, the online destination for business intelligence for major industry sectors, added a new report which forecasts that the buying power of 39 million African Americans will hit $1.1 trillion by 2012.
Report Buyer, has now added a new report which forecasts that the buying power of 39 million African Americans will hit $1.1 trillion by 2012. This buying power offers opportunities to marketers of a wide range of products and services.

“The African-American Market in the U.S” reports that in the U.S. there are 2.4 million affluent African-American households with household incomes of $75,000 or more. They account for 17% of all African-American households but 45% of total African-American buying power.

Data shows that companies offering luxury items and financial services are at a particular advantage, because affluent African Americans are even more likely than other affluent cohorts to spend money on luxury items such as cruise-ship holidays, new cars, designer clothes, as well as investing in life insurance.

Authors of the report note that the African-American cohort continues to be a significant consumer segment that in some ways exercises more economic clout than the ever popular Hispanic one. They say African Americans' purchasing behaviours can differ in many ways, ranging from what is bought at the grocery store to clothing style and magazine preferences. The authors argue that marketers should pay attention to these differences to execute marketing campaigns that target the many segments of this important demographic cohort.

”The African-American Market in the U.S.” provides a demographic analysis of the African-American population and an assessment of social and economic trends affecting African Americans today and in the future. A full assessment of African-American buying power presents their behaviours across a variety of areas. This data-rich report also analyses how African Americans spend their leisure time and money offering solid support to marketers targeting African-American consumers.

“The African-American Market in the U.S” is available from Report Buyer. For more information, see website.

Report Buyer product ID: PKF00090

About Report Buyer: Report Buyer is a UK-based independent online store supplying business information. The website now carries over 70,000 business information products, including market reports, studies, books and events. Subscribers receive a free monthly newsletter and email alerts on new titles in their areas of interest. A regularly updated blog provides information on the latest market trends.

IMAGE LICENCE: Permission is granted to copy, distribute and/or modify this document under the terms of the GNU Free Documentation license, Version 1.2 or any later version published by the Free Software Foundation; with no Invariant Sections, no Front-Cover Texts, and no Back-Cover Texts. A copy of the license is included in the section entitled "GNU Free Documentation license".

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