First published on www.nielsen.com
African-Americans—at 44 million strong and approximately 14.2% of the country’s population—make up a powerful group with a growing impact on American culture and business.
This demographic is largely young—53% are under the age of 35—giving them an oversized influence on the latest trends, especially with music and pop culture. In addition, higher academic achievement has translated into increases in household income—44% of all African-American households now earn $50,000 or more and 23% earn above $75,000. And these higher household incomes, coupled with overall population growth, are driving the substantial purchasing power of the African-American consumer, which is expected to reach $1.3 trillion in a few short years.