- Aug 28, 2015
2016 Nielsen Report: Black Buying Power Has Reached Tipping Point, But How Will Black America Leverage it to Create Wealth?
A new report from Nielsen, “The Increasingly Affluent, Educated and Diverse,” explores the “untold story” of African-American consumers, particularly Black households earning $75,000 or more per year. According to the report, Black people in this segment are growing faster in size and influence than whites in all income groups above $60,000. And as African-American incomes increase, their spending surpasses that of the total population in areas such as insurance policies, pensions and retirement savings.
“These larger incomes are attributed to a number of factors, including youthfulness, immigration, advanced educational attainment and increased digital acumen. As these factors change African-Americans’ decisions as brand loyalists and ambassadors, savvy marketers are taking notice,” according to Cheryl Pearson-McNeil, Senior Vice President U.S. Strategic Community Alliances and Consumer Engagement, and Saul Rosenberg, Chief Content Officer at Nielsen.