African American Women Have Spending Power...Political Power?
Source: blog.timesunion
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| Photo credit: Madamenoire |
Nielsen, in collaboration with the National Newspaper Publishers Association compiled an extremely interesting data report – The State of the African American Consumer. This report, the first of three for this collaborative duo, included tons of information regarding the consumer habits of Blacks in America. There seems to be lots of cash flowing from these communities, as the projected spending power of Blacks by 2015 is estimated to be $1.1 Trillion dollars annually. If we were comparing GDP for countries and we converted spending into gross domestic product, Blacks in America (as a nation) would be ranked 16th just behind Indonesia. The report also mentions on-line purchases and the top ten advertisers, cognizant of the huge buying power of this microcosm economy: such as Proctor and Gamble, General Motors, Verizon , AT&T and Berkshire Hathaway (Warren Buffet) to name a few. Everybody follows the Buffet! If you, as a business owner, haven’t tapped into that market, you should.
“Specialty” marketing is a national movement into the future of advertising and public relations. When we talk about specialty marketing, we are not just talking about putting black faces on the actors who perform in the commercials, but tailoring the message to the interests of African Americans (and these interests vary widely) and the events that impact their lives. Recently, I was working with a young man who is invested in minority marketing and is launching a marketing business model to meet this special need. His vision is to develop, create and produce radio and television products for mainstream companies who want a share of this booming market. Karma Marketing, Inc. is currently working on providing not only website design, and social media marketing, but honing an expertise that does not currently exist in the Capital Region. I would link you to the website, but it’s under construction. When it is completed I will insert the link.
“It is incumbent on marketers to understand the differences in audiences in order to successfully engage consumers.”- Nielsen Report. The report goes on to say that “African Americans tend to demonstrate a high degree of brand loyalty, so it’s incredibly useful to create ads that successfully penetrate their awareness.” Some additional tidbits to grind your teeth on: the strength of the African American dollar is largely driven by the 64% of black women in the labor force. The products most shopped are health/beauty, household cleaning, clothes, childcare (in the home and out of the home) and food. The list is far more extensive than what is listed here.
Information is power, and so it would seem is spending. African Americans like Tyler Perry, who produces two of the top 10 most popular TV shows (forget the show, think advertising exposure) and the Real Housewives of Atlanta garner major market share which translates into juggernaut marketing power. So why is this economic power not translating into political power? Is black (spending) power too frightening for politics, or does anyone even care?
Thank you so much for this article! African American do indeed have more political power than we are often led to believe. We are a powerful voting bloc, whose influence was demonstrated at its peak during the 2008 presidential election.
ReplyDeleteIn the book "Conflict: African American Women and the New Dilemma of Race and Gender Politics" there is a provocative examination of an increasingly important voting bloc, one that impacted the 2008 election and whose loyalties will have far-reaching implications for future contests. This fascinating study is three-pronged. It explores the conflicts African American women experience in prioritizing race over gender, offers data-backed analysis of the substantial power of this bloc to influence elections, and looks at the ways in which the very existence of that influence impacts the political and social empowerment of this dual-identity population.
Cindy, I had an opportunity to read information about your book and was very impressed with the information that you cover. I would like to speak with you about your book and about possibly being a contributing writer for the African American Network. email me at theimagemakergroup@sbcglobal.net and let me know how to reach you. You are a powerful sista.
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