A recently released report finds that the “buying power” of the nation’s African American population will come very near to $1 trillion in 2010.
Entitled “The African American Market in the U.S., 8th Edition,” the projections were released last week by the market research publisher Packaged Facts.
Published Facts owner Don Montuori issued a statement saying, “With such financial clout, marketing efforts to reach out to African Americans are likely to increase.”
However, “buying power” is more a measure of the income that flows through the hands of Blacks each year; it is not a measurement of wealth – accumulated income.
There are now fewer Blacks than Hispanics in the U.S. population but over the next five years both groups are projected to experience income growth of “at least 28 percent.”
Further information about the report is available online at http://www.packagedfacts.com/redirect.asp?progid=76520&productid=2514909 (source: Taylor Media Services)
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