Black Dollars Matters

The minority is becoming the majority as the U. S. moves toward becoming a reversed dominant nation, a plurality of racial and ethnic groups (Wazwaz, 2015). The black population is growing in numbers, now comprising 14% of the U. S. total, and strides in education, technology savvy, demographic trends and social media, empowers the black consumer base. Companies not addressing growing diversification may find themselves struggling to keep pace with the change. Black consumers represent the largest group of minority consumers, with spending projected to reach 1.2 trillion dollars this year. Black dollars’ matters translate to unprecedented impacts on multiple media channels (Boschma, 2016) and marketers’ opportunity to develop meaningful, inclusive relationships with the black consumer. Black dollars’ matters now more than ever considering its’ economic influence, partnered with the power of social media and the black populations’ position in mainstream America.

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Boschma, J. (2016, February 02). Black Consumers Have ‘Unprecedented Impact’ in 2015. Retrieved July 24, 2017, from https://www.theatlantic.com/politics/archive/2016/02/black-consumers-have-unprecedented-impact-in-2015/433725/

Bureau, U. C. (2017, January 10). Newsroom. Retrieved July 24, 2017, from https://www.census.gov/newsroom/facts-for-features/2017/cb17-ff01.html