The latest Consumer Expenditure Survey numbers reveal startling truths about the African-American consumer segment’s spending habits. Marketers who study comparative expenditure data and determine only that “Blacks spend less” are likely to overlook a wealth of opportunity. Apples-to-apples comparisons of Black vs. non-Black household (or consumer unit) spending alone does not take into consideration the psychographic, cultural, demographic and situational drivers of the differences between Black and non-Black household spending, which aren’t always obvious.
News stories about higher-than-average Black unemployment and poverty rates may cause advertisers to dismiss this group as one not worth marketing to, yet closer review of the numbers and trends reveals that this population segment continues to spend despite the obstacles it faces.
via The Truth About Black Consumer Spending | Reaching Black Consumers.