BY MAUDLYNE IHEJIRIKA Staff Reporter September 19, 2013 2:10PM
Blacks outpaced the general public in population growth, TV viewership, smartphone ownership and annual shopping trips, according to a new report on African-American consumers released by Nielsen on Thursday.
The report, released in conjunction with the National Newspaper Publishers Association, a trade group representing about 200 black community newspapers, complains that despite this population’s $1 trillion buying power, advertisers continue to slight black media on targeted advertising dollars.
“Resilient, Receptive and Relevant: The African-American Consumer 2013 Report” forecasts black buying power will rise to $1.3 trillion by 2017, finding 53 percent of the nation’s 43 million blacks currently are under age 35, with the black population growing 40 percent faster than the general market population.
The study also found blacks watch more TV than the general population, 37 percent more; read more financial magazines, 28 percent more; and surpass the general population in smartphone ownership — 71 percent verse 62 percent.
It also found blacks make eight more shopping trips per year than the general population; purchase nine times more ethnic beauty and grooming products; and spend more than twice the time at personal websites than any other group.
According to the report, 81 percent of black consumers believe products advertised in black media are more relevant to them.
Yet, advertisers dedicated only 3 percent — $2.24 billion — of the $75 billion spent with all media in 2012 to media specifically targeting black audiences, the report complains, alleging advertisers erroneously believe the absence of a language barrier justifies their “one-size-fits-all” approach to reaching black consumers.