By Brittany Hutson
It’s peculiar how the buying power of the African American market is reported to reach $1 trillion this year, according to market research publisher Packaged Facts; yet the market remains largely untapped by advertisers. With such a consumer market ready to spend so much on goods and services, why are companies missing out?
Melvin Wilson, a digital marketing executive with the multicultural ad agency UniWorld Group, who has clients such as Time Warner Cable and CVS, says a lot of advertisers miss opportunities to own relationships with the African American market. “Marketers will take segments that aren’t necessarily split by race, like mothers, and they’ll try to own that segment and protect it from other competitors,” he says. “I really haven’t seen any marketer take that stance towards African Americans.”
Wilson adds that companies underestimate the power of the Black consumer. “They should be worried about how we’re going to influence other folks into buying stuff,” he says. “There’s a market for premium headphones because Dr. Dre decided to make one. Now there’s kids [of all races] walking around with $379 headphones on.” We collaborated with Wilson to develop a list of seven companies who’ve been successful in their efforts to attract the Black consumer.
