Black consumer power still matters

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Education is important to us.  The number of African-American college graduates was up 9 percent between 1990 (11 percent) and 2010 (20 percent). And, in a myth-shattering revelation, the report shows that we spend 44 percent more time on education and career sites than the total market consumers. Did you know that we read financial magazines such as Forbes, Fortune and Black Enterprise, 28 percent more than other consumers?  And, we spend an average 87 minutes on finance and investment websites. That’s 12 percent more than other groups. On the flip side, we could catch up in the actual purchase of mutual funds, first mortgages and stocks. But, the curiosity is there, which helps illustrate to financial institutions that there are opportunities to market and create more awareness about services to Black audiences.

Now, we are just getting started so stay tuned. You can also find a four-page copy of the report in the coming weeks, inserted into your NNPA newspaper. Check it out and let us know what you think. Okay, so, I’ve been doing all the talking here for the last three years, but I want to hear from you.  Talk to me and let me know what you think.  Let’s keep the conversation going.

(Cheryl Pearson-McNeil is senior vice president of Public Affairs and Government Relations for Nielsen. For more information and studies go to http://www.nielsen.com. Follow Us on Twitter @NielsenKnows #AAConsumer13. Like us on Facebook: www.facebook.com/NielsenCommunity.)

 

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