Good News! We Hold Purchasing Power in Black Community
It’s no secret women like to shop and with the buying power of African-American consumers projected to reach $1.1 trillion by 2015, women will be the primary driver of most of those purchases according to a new report on the State of the African-American Consumer from Nielsen.
It’s a powerful position to be in, although unfortunately one that is directly related to the fact that black women are increasingly serving as the head of household these days. Automobiles and transportation was the only category where men were seen as having greater influence in purchases. Men and women had an equal role in deciding when to spend on electronics or social activities, but in all other areas women were the primary influencers.
In major retail channels, African-Americans spend less than their counterparts. For example, African-Americans spend an average of $52.60 per trip in the supercenter channel which is 16% less than the non-African American average of $62.50. Spending per trip at grocery stores was also 18% less per trip for African-Americans—$34.10 vs. $41.80. That difference may be trumped by the fact that on average African-American households take 8% more shopping trips: 165.7 annually versus 153 for other households.