13 Things Black people spend the most money on.

Black Spending Power
Black Spending Power

African Americans spend $1.2 trillion annually. The importance of the Black spending power cannot be overstated even though it is often taken for granted.

Although Blacks make up only 14% of the United Sates population according to the U.S. census, in many spending categories their spending is far greater proportion to their population.
Below are the 13 categories were Blacks spend the most money.

1. Ethnic Hair and Beauty Aids: The total spent yearly in this category is $63.5M of which $54.4M (86%) is from Blacks.

2. Women’s Fragrances: The total spent yearly in this category is $679M of which $152M (22%) is from Blacks.

3. Feminine Hygiene: The total spent yearly in this category is $257M of which $54.4M (21%) is from Blacks.

4. Men’s Toiletries: The total spent yearly in this category is $308M of which $62M (20%) is from Blacks.

5. Personal Soap and Bath Needs: The total spent yearly in this category is $3.04B of which $574M (19%) is from Blacks.

6. Frozen Unprepared Meat and Seafood: The total spent yearly in this category is $4.3B of which $762M (18%) is from Blacks.

7. Refrigerated Juices and Drink: The total spent yearly in this category is $3.3B of which $578M (18%) is from Blacks.

8. Shelf-Stable Juices and Drink: The total spent yearly in this category is $6.2B of which $1.04B (17%) is from Blacks.

9. Spices, Seasoning and Extracts: The total spent yearly in this category is $2.7B of which $430M (16%) is from Blacks.

10. Bottled Water: The total spent yearly in this category is $5.1B of which $810M (16%) is from Blacks.

11. Insecticides and Repellants: The total spent yearly in this category is $1.14B of which $177M (15%) is from Blacks.

12. Gum: The total spent yearly in this category is $808M of which $123M (15%) is from Blacks.

13. Shortening / Oil: The total spent yearly in this category is $2.3B of which $352M (15%) is from Blacks.

“When it comes to African-American consumer spend, there are millions, sometimes billions of dollars in revenue at stake,” said Andrew McCaskill, Senior Vice President, Global Communications and Multicultural Marketing, Nielsen. “With 43% of the 75 million Millennials in the U.S. identifying as African American, Hispanic or Asian, if a brand doesn’t have a multicultural strategy; it doesn’t have a growth strategy. The business case for multicultural outreach is clear. African-American consumers, and all diverse consumers, want to see themselves authentically represented in marketing, and they want brands to recognize their value to the bottom line.”

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