55 Useful Black Consumer Spending Statistics 2024 Report In 2019, consumer expenditures by black households totaled approximately $835 billion. combined spending by all black households has increased 5 percent annually over the past two decades. it has outpaced the growth rate of combined spending by white households (3 percent), driven mostly by faster population growth. 1. African americans make up 14% of the u.s. population but have outsized influence over spending on essential items such as personal soap and bath needs ($573 million), feminine hygiene products ($54 million) and men’s toiletries ($61 million). nielsen research also shows black consumers spent $810 million on bottled water (15% of overall.
55 Useful Black Consumer Spending Statistics 2024 Report This article is based on data from the consumer expenditure quarterly interview survey using data from 2010, 2011, and 2012. 5 the sample used in this study is composed of 11,000 interviews in which reference persons self identified their race as black. 6 this article analyzed the income distribution and spending patterns of all the black. At 47.8 million strong, african americans are the second largest consumer group, presenting businesses with a $300 billion opportunity stake in this community. despite being 13.4% of the u.s. A $300 billion opportunity: serving the emerging black american consumer. august 6, 2021 . there’s a big market to be unearthed if companies meet the real needs of black consumers. black consumers’ collective economic power is set to expand dramatically, from about $910 billion in consumption in 2019 to $1.7 trillion (in nominal dollars. The state of black consumers. february 24, 2024 black consumers’ collective economic power is set to expand dramatically, from about $910 billion in consumption in 2019 to $1.7 trillion (in nominal dollars) in 2030. even so, they are more likely than their non black counterparts to live in consumer deserts and be underserved across all areas.
Nielsen Insights Reveal Black Dollars Matter The Sales Impact Of Black A $300 billion opportunity: serving the emerging black american consumer. august 6, 2021 . there’s a big market to be unearthed if companies meet the real needs of black consumers. black consumers’ collective economic power is set to expand dramatically, from about $910 billion in consumption in 2019 to $1.7 trillion (in nominal dollars. The state of black consumers. february 24, 2024 black consumers’ collective economic power is set to expand dramatically, from about $910 billion in consumption in 2019 to $1.7 trillion (in nominal dollars) in 2030. even so, they are more likely than their non black counterparts to live in consumer deserts and be underserved across all areas. Numbering over 40.8 million in 2020, black americans now represent 12.4% of the total u.s. population. any company marketing to u.s. consumers would be ill advised to ignore them, especially knowing that their spending in specific categories can literally move entire markets. if you’re looking to better understand the black consumer market. Not only do black consumers represent the second largest ethnic group in the united states, but they have the fastest growing youth segment as compared to non blacks. newly updated for 2024 with the latest data available, this report highlights key trends among black african american consumers across demographic, economic, attitudinal, and.
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