Cheryl Pearson-McNeil and Nadja Bellan-White. (Photo: Kris Connor/Getty Images for BET)
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Panel moderator Cheryl Pearson-McNeil, who is senior vice president of public affairs and government relations for Nielsen, kicked off this year's lively discussion with a provocative presentation of numbers, including these facts:
-- There are 43 million Black consumers in the U.S.;
-- Black people buy more consumer products than any other ethnic group in America combined;
-- Black America has $1.1 trillion purchasing power;
-- On average, 72 percent of African-Americans have more than one social networking profile.
"Once we do the numbers on Black consumers, we see one thing: You are pure power, baby!" Pearson-McNeil said. "That's a great takeaway for people in our business."
"It's not about Black; it's about profit," said Vicky Free, executive vice president and chief marketing officer of BET Networks. "Black consumers are 2 percent of the total market share, but there's a perception that Black consumers don't matter. The numbers don't support that myth.
Source: BET News | Jill Hudson Neal