Abstract
This report provides critical insight on the shopping and spending patterns of Black Americans. This demographic has unique buying behavior that needs to be understood in order to optimize marketing and product development efforts.
Black Americans represent about 13% of the US population, and the segment is growing at a relatively rapid pace. This growth, combined with that of the Hispanic population, is helping fuel the rise of a "multicultural economy," shaping consumer markets in a variety of ways. More specifically, our research addresses the following questions about Black Americans:
- How are their shopping patterns similar to and distinct from other groups?
- How do their values, beliefs and lifestyles compare and contrast with other groups?
- What subgroups exist within the segment, and how should marketing and product development be tailored to these subgroups?
- What types of retail experiences are favored and how can retail be used to build brand equity and loyalty within the segment?
- How does a company build strong relationships with this unique group?
- How do Black Americans feel about discrimination and how do these perceptions affect the way that they view companies?
As businesses enter a new age of multiculturalism, it will be more important to communicate in culturally relevant ways. Tailoring marketing and product development to Black Americans will open doors to new, profitable opportunities.
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