Our value in the marketplace

Posted: June 11, 2008 in Economy

This article came out in January of this year.

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Black Buying Power: Showing You the Money

where we spent our scratch in 2007

By Donna Johnson and Boyd Klingler

ebonyjet.com

You’re young, you’re hip, a trailblazing trendsetter. You’re mobile—by phone, by car, by ear–in every sense of the word. And if you’re African-American, you’re not just keeping up with the Joneses. In the eyes of merchandisers, and marketing directors, you are the Joneses. Congratulations, you’ve arrived—to the tune of $845 billion in buying power in 2007.

To give you some quantifiable sense of what that number actually feels like, only nine other countries in the world have a larger GDP than the $845 billion African-Americans contributed to the U.S. economy last year. Nine. Which means, in dollar amounts, African-America is the tenth largest country on the planet.

After pouring over a mountain of mind-numbing statistics and data, we’ve worked up a summary of the $845 billion impact African-Americans made in 2007 on an overall $10 trillion U.S. economy. And the aftershock goes beyond the numbers.

One other quick note before we get started: Wherever mentioned, Latinos are grouped by ethnicity and not race. The category of race is reserved for African-Americans, Asian-Americans, Native Americans and Whites. If you have issues with this classification, take it up with the Census Bureau.

Otherwise, here’s a breakout of just some of the more significant findings (more…)

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Comments
  1. We citizens in the USA have some hard choices ahead of us when we go to vote in the 2008 General Elections. In my post tonight at People Power Granny I discuss many of the numbers associated with the major issues on my radar screen. Let me know what issues get you riled, and vote in my poll.

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