The State of the African-American Consumer, a joint effort between Nielsen and the National Newspaper Publishers Association, found that that African Americans' buying power is expected to reach $1.1 trillion, the Bed-Stuy Patch reports.
Where's the money going? The report concludes that African Americans are "over-indexed" in television viewing, mobile-phone usage and grocery-store trips. The patterns are noteworthy in part because of the well-known influence of the black community on pop culture and trends.
Report highlights, courtesy of the Bed-Stuy Patch:
The number of African-American households earning $75,000 or higher grew by almost 64 percent, a rate close to 12 percent greater than the change in the overall population's earning between 2000 and 2009. This continued growth in affluence, social influence and household income will continue to impact the community's economic power.
African Americans make more shopping trips than all other groups, but spend less money per trip. African Americans in higher income brackets, also spend 300 percent more in higher-end retail grocers more than any other high-income household.
African Americans use more than double the amount of mobile phone voice minutes compared to Whites — 1,298 minutes a month vs. 606.
The percentage of African Americans attending college or earning a degree has increased to 44 percent for men and 53 percent for women.
To download a free copy of this report, click here.
Read more at the Bed-Stuy Patch.
In other news: Forever Stamps by Romare Bearden.