African-American Market in the U.S., 8th Edition, TheDocument Transcript
Get more info on this report!The African-American Market in the U.S., 8th EditionFebruary 1, 2010With a population of 40 million and buying power approaching $1 trillion in 2010, AfricanAmericans are a key segment in an American economy that increasingly depends uponthe needs and preferences of multicultural consumers. The historic election of thecountry’s first African-American president created a feeling of pride and a sense ofempowerment among black Americans. In the face of daunting economic difficulties,African-American consumers are more positive than other Americans about their ownpersonal financial situation and are more optimistic about the future of the Americaneconomy.The 8th edition of Packaged Facts The African-American Market in the U.S. focuses onhow African-American consumers are responding to the challenges of today’s economyas they shop in department stores, supermarkets, drug stores and other retail outlets aswell as online and from catalogs. The report analyzes the forces shaping the purchasedecisions of African-American shoppers and sheds light on key areas such as howblack consumers decide where to shop and what influences them while they areshopping. The report pays particular attention to the attitudes and behavior of affluentAfrican-American shoppers.The report begins with an assessment of trends shaping the African-American marketand identifies opportunities available to marketers interested in reaching out to African-American consumers. It continues with a forecast of the growth of the buying power ofAfrican Americans through 2014 and provides a detailed demographic profile of theAfrican-American population. The next chapter provides an overview of the attitudesand behavior of African-American shoppers. Individual chapters provide an in-depthview of African-American consumers when they shop for food, clothes, drug-store itemsand home electronics and furnishings. The report concludes with a detailed analysis ofthe shopping behavior of African Americans with a household income of $100,000 ormore.Read an excerpt from this report below.
Additional InformationMarket Insights: A Selection From The ReportCents-Off Coupons Not as Interesting to African-American ShoppersAfrican-American households are less likely than other households to use cents-offcoupons of all kinds. As is the case with other households, color leaflets inserted innewspapers are most likely to be used. African-American consumers are about as likelyas other households to have ever used an on-shelf coupon machine in a store. They aremost likely to redeem cents-off coupons in supermarkets and for food and groceryitems. [Table 5-18]Shopping Cart Ads More Likely to Engage Black ShoppersWhen black consumers are in stores, they are more likely than other shoppers to noticeadvertising on shopping carts (18% vs. 13%) and video monitor displays (21% vs. 18%).They also are slightly more likely to notice radio and public address announcements(29% vs. 27%). They are much less likely to pay attention to signs on merchandiseracks and shelves (42% vs. 50%), free-standing displays with products (38% vs. 48%)and promotions or displays at the end of aisles (35% vs. 45%). [Table 5-21]African-American Moms Pay More Attention to In-Store Advertising inSupermarketsBlack women as a whole are less likely than other women to pay attention to varioustypes of advertising and promotions used in supermarkets. However, both single andmarried African-American women with children are much more likely than theircounterparts in other population segments to refer to a range of in-store advertising andpromotional activities when they are shopping in a supermarket. For example,compared to other married women with children, married black moms are more likely torefer to advertising on the floor (59% vs. 53%), advertising on shopping carts (20% vs.15%), in-store announcements (49% vs. 41%), radio/public address announcements(45% vs. 29%) and video monitor displays (32% vs. 17%). [Tables 6-10 and 6-11]In the News Buying Power of African American Consumers Approaching $1 Trillion in 2010New York, January 20, 2010 — With a population of 40 million and buying powerapproaching $1 trillion in 2010, African Americans are a key segment in an economythat increasingly depends upon the needs and preferences of multicultural consumers,
according to The African American Market in the U.S., 8th Edition by leading marketresearch publisher Packaged Facts.“With such financial clout, marketing efforts to reach out to African Americans are likelyto increase,” says Don Montuori, publisher of Packaged Facts. “Major consumerproducts marketers have begun to align their strategies with the multicultural majorityemerging in the U.S. and some have even indicated that multicultural consumers havebecome their core focus as they strategize and set their sights on the next ten years.”The African American population is smaller than the U.S. Hispanic market, but thedisposable personal income of both African American and Latino consumers isprojected to trend comparably over the next five years, with each experiencingcumulative growth of at least 28% from 2009-2014. Packaged Facts estimates that thebuying power of black consumers in the U.S. will increase to $1.2 trillion by the end ofthe forecast period.The African American consumer population has been hit especially hard by the recentrecession, with unemployment rates for blacks exceeding that of any other majorpopulation group. Nevertheless, several sources cited in the report indicate that thesense of empowerment created by the election of Barack Obama has spurred blacks toadopt a more optimistic vision of the future than that held by other Americans. Thisincludes greater optimism regarding their own personal finances and a general proclivityto agree that they are less likely to hold off making big-ticket purchases such asautomobiles in the near future.The African American Market in the U.S., 8th Edition focuses on how AfricanAmerican consumers are responding to the challenges of today’s economy as theyshop in department stores, supermarkets, drug stores and other retail outlets as well asonline and from catalogs. The report analyzes the forces shaping the purchasedecisions of African American shoppers and sheds light on key areas such as howblack consumers decide where to shop and what influences them while they areshopping. In addition, the report pays particular attention to the attitudes and behavior ofaffluent African American shoppers. Primary data on African American consumerbehavior are drawn from the Summer 2009 Experian Simmons National ConsumerStudy (NCS).About Packaged Facts - Packaged Facts, a division of MarketResearch.com,publishes market intelligence on a wide range of consumer market topics, includingconsumer goods and retailing, foods and beverages, demographics, pet products andservices, and financial products. Packaged Facts also offers a full range of customresearch services.
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