While performing research for my next stream of articles, I came across an interesting study regarding Black women and our spending power. I’ll paraphrase my findings, however if you would like to see the full article please refer to the sources below. The study was conducted by Atlanta based Lattimer Communications, a full-service advertising agency specializing in the African American female market. Did you know that today’s Black women across America wield over $500 billion in buying power? Whew, let me catch my breath…and according to The 85% Niche, a South Carolina marketing firm that also focuses on women of color, “Black women make 85% of the brand purchasing decisions of black consumers.” These statistics make Black women a commanding force in the U.S. economy. If that’s the case, then why are we so underserved by advertisers, marketers and corporations? According to the article (I would have to say that I agree) it is because the Black female consumer is misunderstood.
How many times have you seen a hair product or clothing advertisement that just wasn’t targeted at you? Overall, Black consumers tend to be segmented by advertisers and placed into categories that are too generalized and narrowly focused within urban markets resulting in missed target opportunities. And since women possess the most influence in buying decisions we are left feeling undervalued because advertisers just don’t get us. Our spending habits, cultural values, economic backgrounds, family status’, and education are vastly different from one household to the next and we need advertisers to speak to these differences. They can’t just “lump” us all together and then forget about us. As “super consumers” we deserve more. What are your thoughts?