Buying Power of African American or Black Consumers 2021

This video is part of a bigger presentation Christine Michel Carter delivers at conferences and in the media on black consumers called “Creating Content for a $1.5 Trillion Audience.” For more information or to have Christine deliver this presentation, please visit her Speaking page on christinemichelcarter.com. For testimonials about her work with brands, visit her Testimonials page on christinemichelcarter.com.

Why do Black women matter for brands?

It’s critical for companies (even those run by women) to understand women of color influence up. Winning with us is more critical than ever before, because our trends and spending behavior have the ability to influence other generations and races at an accelerated, digital speed.

We also parent politically. We are ambitious and trying to change the world for our children, but we can make or break a brand with our vocal, outgoing, influential and involved nature. It’s important for women entrepreneurs not to ignore the realities of today’s divided, racially charged America.

Lastly, we’re social mamas. Women of color spend a huge amount of time on social networking sites, more so than other races, and it’s because we engage with brands and social causes. Women-run/owned businesses’ digital content need to captivate us as an audience, and we will gladly serve as their patrons.

African Americans make up 14% of the U.S. population but have an undeniable buying power and influence on our nation’s economy. According to Nielsen, “black buying power will rise to $1.54 trillion driven by gains in population, income and education. Working-parent lifestyles have led Black people to over-index against the total U.S. population for dollars per buyer spent in a majority of categories.”

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