Study: Black Buying Power Increased Dramatically
For a list of things going right in the black community – never ask a black conservative “buckdancer” – or a conservative period.
(Buckdancing is a real art form, BTW – which along with “clogging” is a dance style to bluegrass and old-style country music. It evolved from a combination of “clogging”, a European style – early African American dance, and traditional Cherokee dance, principally in the Appalachians. This is the national champion buckdancer, Thomas Maupin doing some freestyle Buckdancing. I think you will agree. Thomas has some serious moves.)
And yeah, I put that in there just to irritate the hell out of the closed-minded set.
These studies support a dramatic increase in economic power, and significant progress across the educational front in the black community. The black population also seems to be growing faster than some previous studies have indicated.
The “African-Americans Revealed” study, based on a BET survey of 80,000 black consumers over 18 months, showed a 10 percent increase in America’s black population between 2000 and 2008 and 55 percent increase in black buying power over the same period.
According to the survey, black buying power is estimated now at about $913 billion and is projected to increase to $1.2 trillion by 2013.
A similar study released in November by the Selig Center at the University of Georgia estimated that black buying power would be about $1.1 trillion by 2014, with current spending power for blacks at about $910 billion…
These numbers look about 20-30% low, actually – compared to more detailed studies I’ve seen. One of a number of issues in calculating the black contribution to the US economy is in defining who exactly is black, and what exactly is black enterprise. As the line between black, white, and multiracial becomes fuzzier – I would anticipate calculations of this sort become more difficult and are subject to a higher margin of error.
Blacks spend a large part of their disposable income – $39 billion – on computers, cell phones and other electronics, the survey showed. That’s about 31 percent of the available disposable income.
The survey also showed that blacks spend more time each week online than they do watching television.
According to the study, blacks spend about 18 hours each week online, compared with 15 hours watching television.
It would seem that the feared “Digital Divide” during the 90’s has largely disappeared. What is interesting is the migration towards the Internet as a source of information and entertainment. According to Nielsen, the average US consumer watches TV about 38 hours a week, and only uses the internet about 8 hours a week. Unless the brothers are out there watching porn. or playing online games – this has some pretty interesting ramifications relative to literacy and educational levels.
Last but not least, belieing the “black folks is ignorant” crisis fawned by black conservatives and Chicken Littles…
“African Americans Revealed” predicted there will be 42 million blacks in the United States, which would be a 13.4 percent increase over the 2000 Census. The total population growth for the nation in the upcoming Census is projected to be 9.8 percent.
Researchers at the University of Georgia who compiled the separate buying power study in November said the gains in black buying power reflect much more than just population growth and inflation.
“Of the many diverse supporting forces, one of the most important is the increasing number of blacks who are starting and expanding their own businesses,” Georgia researchers said.
The fact that blacks are getting more education and better access to higher salaries also is boosting buying power. The percentage of blacks who have completed high school or college increased has increased from 66.2 percent in 1990 to 83 percent in 2008, according to Census data cited in the report from the Selig Center.
Doggone them black folks! Give them a chance …
And they’ll go an try and improve themselves!
Now – there are some interesting implications to black American buying habits in terms of their importance to certain industries. Just about none of the infrastructure behind supplying those consumer electronic products and communications devices is in black hands. Another infamous SCOTUS 5-4 decision by the “fab” five put the kabosh to that with Adorand v Pena.
So if the Democrats are really going to go to war with the SCUMMUS 5 over their recent sell out of Democracy…
Maybe it’s time to review all of those 5-4 decisions.