Four Things You Need to Know About African-American Consumers
The African American segment’s share of expenditure growth was two thirds of the White segment’s despite the fact they are one fifth the size.
And the segment’s purchasing power and expenditure is likely to continue growing as young African Americans achieve higher education levels.
African Americans have a high level of optimism about their personal future, despite the challenges they face and the perception that their path to success is steeper.
In fact, the segment’s recognition of their unique challenges fuels their drive to succeed.
Across age groups, African Americans have a strong sense of cultural pride and a heightened sense of exceptionalism—i.e., a tendency to focus on one’s own internal uniqueness and the perceived differences that set one apart from others.
These factors combine with the desire to share their voice, positioning them as powerful influencers across all segments.
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