By Anita Estell
As we do our end-of-the-year and post-holiday accounting and recapitulation, let us not forget the relevance of Black women. A report released by Nielsen in September 2017 confirms again what many of us know: Black women are universally awesome. And, we spend a lot of money that help to make lots of folks rich.
In the report, African-American Women: Our Science, Her Magic, the authors note that Black women consumers will spend about $1.5 trillion by 2021. The report notes, “Black women are using their reclaimed time, money and voices to enrich their families, communities and each other. They’re also very ambitious.” The report acknowledges that Black women are super consumers, achievers and trendsetters.
Their use of technology, digital and media platforms as consumers and creators is vibrant and poised to grow even more profoundly. Cheryl Grace, Senior Vice President (U.S. Strategic Community Alliances and Consumer Engagement for Nielsen) says, “Black women are voracious consumers of video and other digital content, and are leaders even in more traditional media categories.”
Other select key findings include:
- 64% of black women agree their goal is to make it to the top of their profession (95% higher than non-Hispanic white women)
- 55% agree a company’s environmental record is important in their purchasing decisions (13% higher than non-Hispanic white women)
- 58% agree that they don’t mind giving up their personal time for work (20% higher than non-Hispanic white women)
- 49% of black women say that they enjoy learning about financial products or services from others, and that they regularly read financial news or financial publications (34% higher than non-Hispanic white women)
- 59% of Black women agree they are willing to pay more for a product that is environmentally safe (2% higher than non-Hispanic white women)
- 58% agree they are willing to give up convenience in return for a product that is environmentally safe (13% higher than non-Hispanic white women)