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Wednesday, August 27, 2014

Blackout Monday September 8, 2014


Tarhaka Amaana El Bey

Join me Sharon Hunter Bey on Thursday morning August 28, 2014 at 10:00 AM EST
Listen in at http://tobtr.com/s/6841905#BlogTalkRadio
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Topic: Blackout Monday September 8, 2014

• African Americans consistently outpace the total market population in overall growth, smart phone ownership, television viewing and annual shopping trips according to the new study, “Resilient, Receptive and Relevant: The African-American Consumer 2013 Report,” a collaborative effort by the Nielsen Company in New York and the National Newspaper Publishers Association (NNPA), located in Northwest Washington, D.C.
• Black buying power continues to increase, rising from its current $1 trillion level to a forecasted $1.3 trillion by 2017.
• Despite the strong economic outlook, blacks continue to spend most of their money outside of the African-American community and, according to Nielsen and NNPA, advertisers have repeatedly slighted the black media, spending only three percent, or $2.24 billion, of the $75 billion spent with all media last year.
• Each year, African Americans spend more than $47 billion on Lincoln automobiles, $3.7 billion on alcohol, $2.5 billion on Toyotas, $2 billion on athletic shoes, and $600 million each year on McDonald’s and other fast foods, according to Target Market News Inc., a Chicago-based marketing research group.
• Blacks also spend wildly to keep up their appearances. The black hair care and cosmetics industry counts as a $9 billion a year business, but while African Americans are spending the most, they are profiting the least, said officials from the Black Owned Beauty Supply Association (BOBSA) in Palo Alto, Calif. Beauty product lines designed for African Americans were once 100 percent owned and operated by blacks, today other ethnic groups control more than 70 percent of the market.
• The current homeownership rate reveals that 73.5 percent of whites own homes while approximately 43.9 percent of African Americans are homeowners, according to the Harvard Joint Center for Housing Studies State of the Nation report for 2013.
• Sixty percent of African Americans have less than $50,000 saved in company retirement plans and only 23 percent have more than $100,000.
 

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