The Value of the African American $$$

I could go into detail about why I decided to write this article, but I quickly realized it doesnt matter because at the end of the day, as an entrepreneur, you have the right to target whatever market you choose to. However, if you are a future business mogul like myself (smirks), I want each of you to think about how important the African American Dollar is to you and your business. So, before you jump and run off into the wind chasing after customers, think wisely and don’t be so quick to judge the importance and the value of the African-American Dollar. Here are some facts:

The Power of the Afro-American Dollar

• There are 43 Million African Americans in the US – That’s 13.7 of the total US population
• 2^nd Largest Racial Minority in the country
• Median age is 32
• 47 % under the age of 35 years old
• Most mainstream advertisers are not inclusive to African Americans
• Nielsen published a study : “African American Consumers: Still Vital, Still Growing” which explained the underrepresented potential spending power of the African American community
• African American buying power projected to be $1.1 Trillion by 2015
• African American consumer growth outpaces the rest of the population by 30%
• This demographic is younger, more educated and have higher incomes than commonly believed
• African Americans earning degrees or attending college has grown an average of 45% for men; 54% for women
• African American Households earning $75,000 or more grew by 60%, faster than the rest of the population
• African Americans average income nationwide is $47,290
• African Americans have huge buying power in the following trends: health & beauty, travel, smart phones, and child related items

Source: http://www.blackenterprise.com/small-business/african-american-buying-power-projected-trillions/