the African American Consumer Market: Key Trends and Insights for Effective Marketing Campaigns
Regularly overlooked by companies and not widely targeted in marketing campaigns, African-American consumers were not considered an impactful demographic.
This view is now being replaced by a new one. Indeed, the neglect and oblivion of this part of the population (which still represents 19% of the American population) has left a vacant market place that many businesses are now looking to fill.
The market has long forgotten to consider African-Americans in its marketing campaigns, as product targets or as an impactful population. This neglect has made African-Americans an unsaturated market with many opportunities. Today, this population, with its considerable purchasing power, is no longer left out and is taking an increasingly important place in advertising campaigns and other promotions.
A Target Market
Most of the data collected about the purchasing power of the African-American population comes from the United States. It seems clear that even though African-American households have a lower average income, they are still major consumers.
In fact, in recent years, African-American household spending has increased by an average of 5% per year. This is an upward trend since the growth rate for Caucasian households was 3%.
An ever-increasing percentage of purchasing power
The expansion of the purchasing power of this community quickly attracted the attention of business people. The emergence of “minority business”, in line with current trends, has also led to increased attention to this segment of the population.
It is also interesting to note that African-Americans represent 85.85% of ethnic beauty and skin care consumers and spend an average of 19% more than the average on skin care, body cleansing and bath products.
Sources:
“In fact, Black household spending has increased by an average of 5% per year. An upward increase since the growth rate for white households was 3%.”
“Finally, it seems interesting to note that African-Americans represent 85.85% of consumers of ethnic beauty and skin care products”
