Affluent African Americans Making Impact on Consumer Economy

African Americans are crucial to the consumer economy, with a population of 39 million and buying power of $892 billion - a figure expected to exceed $1.1 trillion in 2012 - according to a Packaged Facts study, reports MarketingCharts.

That increase equates to cumulative growth of 28.4% during the forecast period.

Below, additional findings from the study.

Those living in the South account for 54% of African-American buying power. Other key segments:

• Residents of central cities ($430 billion, or 48% of the total)
• Married couples ($428 billion or 48% of the total)
• Households with an income of $75,000 or more ($405 billion, or 45% of the total)

There are 2.4 million African-Americans in $75K+ households, and they are…

• More likely than other affluent consumers to spend money on fashionable dress, toiletries and cosmetics, and cruise vacations
• Less likely to use the internet to plan shopping trips, gather information for shopping, or make online purchases

MarketingCharts has more findings, including those related to various consumer industries and the media.