What are African-American women’s consumer preferences? What does it look like across U.S. mainstream? According to the Nielson report, Black women will be responsible for $1.5 million in spending power by the year 2021.
Cheryl Grace is the Senior Vice President of U.S. Strategic Community Alliances and Consumer Engagement at Nielsen. Nielsen released the 2017 report of African American Women: Our Science, Her Magic at the Congressional Black Caucus Foundation.
“African-American women are a phenomenon. We’ve been talking about #BlackGirlMagic. We know how awesome we are, but Nielsson wanted to make sure that everyone knows how awesome we are, ” says Grace.
According to the report, Black women are the fastest growing entrepreneurs with their own business. There are 1.5 million Black female owned business to date.
Grace says, “We go to work!”
Another fun fact from this report is that Black women listen to radio more than any other minority. Grace says, “92% listen to the radio in a given week. We tune in and we tune up!”
Below are some other statistics from the report:
- 64% of Black women agree their goal is to make it to the top of their profession (95% higher than non-Hispanic White women).
- 58% agree that they don’t mind giving up their personal time for work (20% higher than
- non-Hispanic White women).
- 14% of Black women have annual incomes of $50,000 or higher (up from 9% in 2005).
- Ages 35–49 have the highest income within the black female cohort.
- For Black millennial women (18–34), 81% have never been married, up from 71% in 2005.
- With an average household size of 2.47, 29% of total Black American households contain a married couple.
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