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Growth in Black Buying Power Continues

MoneyAfrican-American buying power continues to increase and is expected to rise from its current $1 trillion level1 to $1.3 trillion by 2017, according to Resilient, Receptive and Relevant: The African-American Consumer 2013 Report. The report was released today by Nielsen, a leading global provider of information and insights into what consumers watch and buy, in collaboration with the NNPA during the Congressional Black Caucus Foundation’s 43rd Annual Legislative Conference.

Highlights from the report include:

• Fifty-three percent of the 43 million Blacks in the U.S. are under the age of 35, and the Black population has grown 63 percent faster than the general market population

• Blacks watch more television (37 percent); make more shopping trips (eight), purchase more ethnic beauty and grooming products (nine times more), read more financial magazines (28 percent) and spend more than twice the time on personal hosted websites than any other group

• Although 81 percent of Blacks said they believed that products advertised using Black media are more relevant to them, only 3 percent or $2.24 billion of the $75 billion spent on television, magazine, Internet and radio advertising was with media focused specifically on Black audiences

• How companies can avoid a “one-size-fits-all” approach to better connect with Black consumers

The findings were announced by Cheryl Pearson-McNeil, senior vice-president, public affairs and government relations for Nielsen, Cloves Campbell, chairman of the NNPA, a 73-year-old federation of 200 Black community newspapers; and A. Shuanise Washington, president and chief executive officer of the Congressional Black Caucus Foundation.

“The consumer insights this year are some of the most varied yet,” said Pearson-McNeil. “From store brand loyalty, to top watched television networks, which mobile apps are most popular, a deep dive into how Blacks spend their digital time, and how companies can reach 10 million Black consumers by developing a southern regional strategy – this year’s report is really a compelling read for both advertisers and marketers.”

“This year, the report goes a step further and lists the premier 50 companies, in the top five categories committed to the Black community economically,” said Campbell. “This type of information helps the NNPA continue our efforts to create conscious consumers who better understand how their economic power has a direct impact on the marketplace overall and that kind of information is invaluable.”

Beyond the business impact Blacks have on the economy, the report also provides more granular insights into its population growth, and demographic uniqueness, which was of particular interest to Washington. “The CBCFs mission is to advance the global Black community by developing leaders, informing policy and educating the public,” said Washington. “Nielsen’s report will prove helpful as we continue our efforts to improve the socioeconomic circumstances of African Americans and other underserved communities.”

To download a full copy of the report, please visit www.nielsen.com.

Other Report Highlights2:

Top Five Advertisers for Media Focused on Black Audiences
1. Procter & Gamble
2. L’Oréal
3. McDonald’s
4. Unilever
5. U.S. Government

Top Five Quick Service Restaurant Advertisers
1. McDonald’s
2. Yum! Brands Inc. (parent company of KFC, Pizza Hut and Taco Bell)
3. Doctor’s Association Inc. (parent company of Subway)
4. Wendy’s
5. Domino’s Pizza

Top Five Quick Service Restaurants Blacks Visited in the Last Three Months
1. McDonald’s
2. Burger King
3. Subway
4. KFC
5. Wendy’s

Top Five Networks Watched by Blacks
1. BET
2. VH1
3. TV ONE
4. BOUNCE TV
5. CENTRIC

Top Five Programs Watched by Black Households
1. ’13 BET Awards, BET
2. Scandal, ABC
3. Elementary – Super Bowl, CBS
4. ’13 BET Awards After Party, BET
5. Love & Hip-Hop Atlanta 2, VH1

Top Five Primetime Programs watched by Blacks Ages 18-49
1. Love & Hip Hop Atlanta 2, VH1
2. Scandal, ABC
3. Real Husbands of Hollywood, BET
4. Real Housewives of Atlanta, BRAVO
5. T.I. and Tiny 3,VH1

Top 5 Social Media Sites by Age based on Time Spent
Ages: 18-34          35-44              45-64
1. Facebook         Facebook         Facebook
2. Meetup             Tagged             Tagged
3. Six Apart          Tumblr              Ning
4. Tumblr             Twitter              Tumblr
5. Twitter              LinkedIn           Glam Media Network

Top Five Website Categories Visited By Blacks
1. Education and Careers
2. Entertainment
3. Family and Lifestyles
4. Corporate Information
5. Government/Non-Profit

Top 5 Preferred Travel Sites Ranked By Unique Visits
1. Google Maps
2. MapQuest
3. Priceline Network
4. Expedia
5. Yahoo! Local

1 Selig Center of Economic Growth, 2012

2 Source: Top 5 Advertisers: Nielsen, 1/1/2011 – 12/31/2012; Television programs: Nielsen 12/31/12 – 6/30/12; Top 5 Quick Service Advertisers: Nielsen, 1/1/2013 – 3/31/2013; Quick Service Restaurants Blacks Visited: Nielsen, June 2013; Top 5 Networks: Nielsen, 12/31/2013 – 6/30/2013; Top 5 Social Media Sites: Nielsen, March 2013; Top 5 Website Categories: Nielsen, March 2013; Top 5 Preferred Travel Sites: Nielsen March 2013

Source: Nielsen

About the Author

New York Trend is a weekly news publication that focuses on issues and lifestyles of the African & Caribbean American communities throughout the New York metropolitan area and Nassau and Suffolk Counties of Long Island. It is a respected and well recognized news publication that has been in existence since 1989. Owner, Publisher and Executive Director, Dr. Teresa Taylor Williams has been at the helm of this award-winning publication since its inception. New York Trend continues to be the only black woman-owned, metropolitan newspaper in New York and Long island. New York Trend is the largest black-owned newspaper throughout Nassau and Suffolk counties.

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