Black Power: African American spending power to hit $1.3 trillion in 2017 – Nielsen Report

The phrase “Black Power” has taken on a new meaning. In the late 1960s and early 1970s, the Black Power Movement inspired racial pride and self-esteem amongst African Americans and encouraged all Americans to acknowledge and embrace Black culture and heritage.

Today Black Power also refers to the considerable economic influence of African Americans.

According to recent Nielsen reports, the buying power of African Americans is US$1.1 trillion and expected to grow to US$1.3 trillion by 2017. In addition, African Americans are conscious of how they spend their time and money, thus leveraging this purchasing power to ensure their economic impact is recognized and valued.

The influence of Black Power increases exponentially when the overall impact that Blacks have on American popular culture is considered. A Nielsen report highlights that 73 percent of Whites and 67 percent of Hispanics believe that Blacks influence mainstream culture. This is evidenced by the success of recent television shows that feature Black actors and culturally relevant story lines.

Read more: The Skanner