Nielsen released Increasingly Affluent, Educated and Diverse: African-American Consumers – the Untold Story, the fifth installment in its Diverse Intelligence Series. This new report is inclusive of insights about affluent Black consumers with annual household incomes of $75,000 and higher and upends outdated stereotypes about African-Americans, from education and income to media consumption and social engagement. The report was released at a press conference during the Congressional Black Caucus Foundation, Inc.’s 45th Annual Legislative Conference in Washington, D.C
Increasingly Affluent, Educated and Diverse: African-American Consumers – the Untold Story explores the evolution of upper-income Black Americans as the population continues to grow and change rapidly. At 45.7 million strong , the nation’s Black population grew at 17.7% from 2000 to 2014 — 35% faster than the total population and double the 8.2% growth rate of the White population. The growth rate of the Black population is partly attributed to the surge in Black immigration from the Caribbean, Africa and some European countries, making the overall population incredibly diverse. The number of foreign-born Blacks in the U.S. has quadrupled since 1980, accounting for 3.8 million of the nation’s Black population. Foreign-born Blacks are contributing to increased incomes in the African-American community: their median household incomes are 30% higher than U.S.-born Blacks.
“The size and influence of affluent African-Americans is growing faster than that of non-Hispanic Whites across all income segments, and the impact is being felt across industries,” said Cheryl Pearson-McNeil, Senior Vice President, U.S. Strategic Community Alliances and Consumer Engagement, Nielsen. “These larger incomes are attributed to a number of factors including youthfulness, immigration, historic educational attainment and constant, relevant dialogue across various social media channels that have an impact on African-Americans’ decisions as brand loyalists and ambassadors. Savvy marketers are taking notice.”
“We believe this ‘untold story’ is both timely and critical to understanding African-Americans in 21st century America,” said Reverend Jacques Andre DeGraff, Nielsen External Advisory Council Co-Chair. “Nielsen has been successfully providing insights and data for its clients for nearly 100 years. Now with this fifth anniversary milestone African-American report, the launching pad for the Diverse Intelligence Series, multicultural communities can be confident that Nielsen captures the importance of every demographic.”
Highlights of Increasingly Affluent, Educated and Diverse: African-American Consumers – the Untold Story include:
Motivational Podcast by RFFocus.org CEO Kevin Ross - More Episodes HERE