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It’s no secret that when it comes to #BlackGirlMagic, our beauty, intelligence, passion and grace among other things have been highlighted in big ways thanks to more African-American women taking the forefront as leaders and change makers in everything from entertainment to politics. From Issa Rae to Maxine Waters we’ve done an excellent job at proving that representation is everything. But big names aren’t the only ones who are making changes that are forcing the world to take notice. Each and every one of us is sprinkling a little bit of magic in our own way (as if we didn’t already know) and namely one of those ways is in our purchasing power.
According to the African-American Women: Our Science, Her Magic report, African-American women are the driving force behind total black buying power, which is projected to top a record-breaking $1.5 trillion by 2021. Nielsen released the report Thursday which breaks down the digits and makes it known that numbers don’t lie when it comes to the influence that our spending, watching, and listening habits have in mainstream culture. Black Enterprise reports the study shows that are influence is unmatched, and African-American women set the trends when it comes to beauty, fashion, music and television. Which explains why women everywhere are running the get their hands on a Fenty “Trophy Wife” highlighter so we can all look like Grammy statues no wonder what skin color we’re rocking underneath.
If you’re still not convinced that “black power” has nothing to do with American Express, Cheryl Grace, Nielsen senior vice president of U.S. Strategic Community Alliances and Consumer Engagement shares in a press release that the images of black women has a lot to do with how other women see themselves:
“Black women have strong life-affirming values that spill over into everything they do. The celebration of their power and beauty is reflected in what they buy, watch and listen to, and people outside their communities find it inspiring.”
“Understanding how black women’s values affect their buying decisions has long been a marketing necessity. Now, marketers must also recognize the intercultural influence of black women on the general market as an increasingly vital part of how all women see themselves, their families and the rest of the world.”
The study also shows when it comes to creating opportunities and making moves, we shouldn’t allow the divisive political climate and racial tension that continues to be more prevalent in our culture distract us from the fact that African-American women are changing the game in ways we’ve never witnessed before. The study finds that black women have enjoyed steady growth in population, incomes, and educational attainment. Black female entrepreneurs have grown by 67% between 2007 and 2012, which equates to more than 1.5 million businesses with over $42 billion in sales. Lastly, unlike some reality shows would like us to believe, we are cracking open more books than champagne bottles with sixty-four percent of high school grads going straight to college, while 23% over age 25 have a bachelor’s degree or higher.
In other words when it comes to #BlackGirlMagic, simply put: It’s lit. Check out a few other finds from the study below:
- 86% admitted to spending 5 or more hours each day on social networking sites
- 82% of black women say it’s important to be well-groomed
- 81% of black millennial women, ages 18–34, have never been married
- 74% of black women agree global warming is a serious threat
- 74% of black women agree that they make healthy food choices
- 68% of black women are content with their appearance and their self-image
- 64% of black women are aiming to make it to the top of their profession
- 60% of black women agree they buy natural products because they are concerned about the environment
- 59% of black women agree they are willing to pay more for a product that is environmentally safe.
- 58% agree that they don’t mind giving up their personal time for work
- 55% agree a company’s environmental record is important in their purchasing decisions
- 46% of black women agree they often use natural or organic beauty products
- 43% of black women say they like to share their opinions about products and services by posting reviews and ratings online
- 29% of total black American households contain a married couple with an average household size of 2.47
- 14% of black women have annual incomes of $50,000 or higher (up from 9% in 2005)
