African Americans represent 11% of the U.S. adult population and, as a group, constitute the nation’s largest racial minority market. African Americans are also more optimistic about their financial situation than the general population, and with good reason. According to the Selig Center for Economic Growth, African American buying power reached $913 billion in 2008, up from $590 billion in 2000. By 2013, African American buying power will reach an astonishing $1.2 trillion, meaning that almost nine cents out of every dollar spent in the United States will come from African American consumers.
In celebration of Black History Month, Experian Simmons examines the attitudes, behaviors and media consumption of our country’s African American consumers
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