Black buying power in the U.S. reached $836 billion in 2010, according to Target Market News. Black households spent an estimated $507 billion in 2009, up 16.6% from 2008. The increase suggests that African Americans are regaining confidence in the economy, as expenditures between 2007 and 2008 were flat.
Spending was highest in the essentials: housing, food, clothing, cars/trucks, and healthcare. Product categories related to furnishing or redecorating homes showed significant increases, reflecting a 4
.2% increase in the number of Black households. [Consumer Spending, Emerging Majorities]
Source: “The Buying Power of Black America, 2010,” Target Market News, Ken Smikle, President, 228 S. Wabash Ave., #210, Chicago, IL 60604; 312-408-1881; info@targetmarketnews.com; targetmarketnews.com. Price: $99.
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