African American Buying Power Tops a Trillion Dollars – Discover how to Influence that Revenue Stream

As of the year 2017, African American buying power had topped the $1 trillion dollar mark and was well on its way to hitting $1.5 trillion dollars by 2021. Before you know it, 2-trillion dollars will be spent on products and services in black America.

The growth in African American buying power means that advertisers, marketers, and research firms are working overtime to study and influence the spending patterns of African American consumers.

African American Households Grow in Influence

According to data from a recent Nielsen study, African American households that earn $75,000, or more, per year are on track to have more influence in the future than ever before.

With this large number of consumers on track to account for almost 20% of American households (in the next 50 years), African Americans stand to be important contributors to the U.S. Gross Domestic Product (GDP) while also creating and maintaining jobs in the workforce.

With such a growth in buying power, how do you attract this economic force to your business?

Influencer Marketing

Influencer marketing refers to a form of marketing where the focus of a campaign or strategy is placed on influential people and not just a target market as a whole.

To give you a better idea of some famous influencer marketers, here are some names you likely recognize:

• Oprah
• Serena Williams
• LeBron James
• Beyonce

Each of the people listed above is known for their influence on taste and culture and not simply for what they do for a living. They reach an audience simply because of who they are and what they represent to their target audience. Two of them are such famous influencers that they are largely known by one name.

Take Advantage of Influence Marketing

If you want to reach an audience of consumers ready to spend money, Thinkzilla can put your products and services into the hands of customers that actually spend money. Why target the African American community?

• No other group watches more television than African Americans. In addition, African American women watch more TV than their male counterparts making them a prime advertising audience.
• The African American population continues to grow faster than the rest of the country. Studies show that the African American population grew 64% faster than the rest of the country since 2010 for a total of around 43-million people.
• Younger, college-educated African American professionals are moving to the South on a regular basis. This gives marketers and business owners a chance to develop strategies that connect with, and retain, a portion of the more than 10-million African Americans living in larger cities and markets in the South.

We know the African American audience like the back of our hands. Reach out to us at 1.888.509.1145. Our award-winning agency services include business marketing, PR solutions, and corporate branding opportunities.

For more information, or to schedule a consultation appointment, give us a call at the number listed above, Click Here to schedule a time to talk.