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.