As a consumer group, African-Americans continue to experience population growth, have unique generational behavioral trends and characteristics, and are projected to reach $1.1 trillion in buying power by 2015. This makes them a viable market segment full of business opportunities, according to the “African-American Consumers: Still Vital, Still Growing 2012 Report,” released by Nielsen and the National Newspapers Publishers Association (NNPA).
The report, released during the Congressional Black Caucus Foundation’s (CBCF) 42nd Annual Legislative Conference, is the second of three annual installments from a collaboration between Nielsen and the NNPA, a 72-year-old federation of 200 black community newspapers.
“Marketers underestimate the opportunities missed by overlooking black consumers’ frustration of not having products that meet their needs in their neighborhoods. And companies that don’t advertise using Black media risk having African-Americans perceive them as being dismissive of issues that matter to Black consumers,” said Cloves Campbell, chairman, NNPA. “This report demonstrates what a sustainable and influential economic force we are.” (Convenience Store News: www.csnews.com)