Black Money Business Jobs : Buying Power

Discussion in 'Black Money Business Jobs' started by Fine1952, Apr 20, 2014.

  1. Fine1952

    Fine1952 Happy Winter Solstice MEMBER

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    [​IMG]

    African-American’s Buying Power Projected to be $1.1 Trillion By 2015
    Group is the second largest racial minority in the country

    by C. Daniel Baker


    There are 43 million African Americans in the United States, 13.7 percent of the total population, the second largest racial minority in the country. The median age is 32 and 47 percent are under 35 years of age.

    Even with these impressive numbers and buying power most mainstream advertisers are not inclusive, do not include African Americans in media and marketing plans and have underestimated the market size.

    The Nielsen Company study entitled “African-American Consumers: Still Vital, Still Growing,” which was commissioned by the National Newspaper Publishers Association, shows the underrepresented potential and spending power of the African American community.

    The report’s findings, which will be presented at the June conference of the National Association of Black Accountants Conference in Nashville, Tennessee, found that the African American population is an economic force to be reckoned with, with a projected buying power of $1.1 trillion by 2015.

    Also worth noting, the population of African-American consumers growth outpaces the rest of the population by 30 percent. Additionally, the demographic is younger, more educated and has higher incomes than commonly believed.

    According to the study: between 2000 and 2009, the number of African Americans attending some college or earning degrees has grown: 45 percent of men; 54 percent of women. Households earning $75,000 or more grew by more than 60 percent, faster than the rest of the population. African American’s average income nationwide is $47,290.

    So what does this all mean in business terms? It means African Americans wield tremendous buying power. The Nielsen study showed numerous shopping trends, mostly for household, health and beauty, travel, smart phones and child related items.

    “The Nielsen report is very encouraging because it shows the African American population is a tremendous financial asset to this country’s economic recovery,” says Calvin Harris, Jr. , President & CEO of the National Association of Black Accountants.
     
  2. JuneBugg

    JuneBugg Well-Known Member MEMBER

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    We could be the wealthiest minority in the world but our dollars don't turn over in the black community we tend to spend outside of our communities. That is some good stuff Fine1952.
     
  3. Fine1952

    Fine1952 Happy Winter Solstice MEMBER

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    That's the sad part, JuneBugg --we are not a minority globally. Only in these types of civilizations are we defined by this false standard.

    The spirit of "Rosewood" "Tulsa Black Market" "Lincoln Heights" are gone. By this I mean, we "black people collectively" the inspiration to form and maintain viable communities w/just us no longer exists.

    1:heart:
    Fine1952™
    © 2014


     
  4. JuneBugg

    JuneBugg Well-Known Member MEMBER

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    That Tulsa Black Wall Street massacre with more than 700 black people murdered with their homes and businesses burned down was done out of pure jealousy. That event alone show how much poor white people value their place in the social caste system based on race. They tell us to pull yourself by your own bootstraps and when we do, they burn it down, it was just another insult to insinuate that we don't have it us to do so and we have to depend on the crumbs white people throw to us.
     
  5. ManicRaider

    ManicRaider Well-Known Member MEMBER

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    Whenever I bring up the black wallstreet to black people they always say that it was born out of necessity not because we were being entrepreneurial.
     
  6. JuneBugg

    JuneBugg Well-Known Member MEMBER

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    Wow
    Wow dude, I've always heard the opposite and I was born and raised in Oklahoma. In fact I have never heard that take but in fact because blacks were entrepreneurial during those days white trash were threatened and enraged with jealousy and went on a massacre burning down what they did not want blacks to have, wealth and business independence. Sick SOB's!

    Oklahoma is an interesting state because it was Indian territory. Slaves ran to it marry into a tribe of Indians and could own and work land. As a result Oklahoma had about 30 black towns, founded by blacks, ran by blacks which is why Black Wall Street happened because it was the main cog in a network of black OK towns. Entrepreneurship was alive and well in Oklahoma in those days which is what white people fear the most, educated, independent black people having their own black business culture. They do not want any competition especially from black people.
     
  7. JuneBugg

    JuneBugg Well-Known Member MEMBER

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    Let Paul Mooney explain it to you.
     
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