Black consumers are an attractive target audience for marketers -- or they should be. In 2012, Nielsen cited The Selig Center for Economic Growth, which reported that US black consumers will have $1.1 trillion in annual buying power by 2015 [PDF].
A black woman using social media. © pablocalvog - Fotolia.com
"Marketers have responded to the growing diversification of the U.S. population by increasing their spending to reach multicultural consumers," said Bob Liodice, president and CEO of the Association of National Advertisers (ANA), in a statement. "These consumers are younger, more acculturated, and more tech-savvy, making the use of newer media platforms more important than ever." The ANA released its 2012 Multicultural Marketing and New Media Survey Results in October.
Despite all of this, only 54 percent of US marketers are using new media tools -- social media, video and mobile, among others -- to target black consumers, according to the ANA's survey. Nearly all marketers, 88 percent, said they were targeting Hispanic customers.
Source: The Grio | Madame Noire Business