Increasingly Affluent, Educated and Diverse: African-American Consumers – the Untold Story
Nielsen recently published its award-winning report, Increasingly Affluent, Educated and Diverse: African-American Consumers – the Untold Story which explores the economic evolution of upper-income Black Americans.
The influence and growth of this community can be attributed to the surge in Black immigration from the Caribbean, Africa and some European countries. In fact, the number of foreign-born Blacks in the U.S. has quadrupled since 1980, accounting for 3.8 million of the nation’s current population. Even more intriguing is the fact that foreign-born Blacks report substantially higher incomes – about 30 percent higher – than U.S.-born Blacks.
Other interesting statistics about this group include:
- One-third of Black immigrants from Africa have a college degree, a higher share than among the U.S. population
- 74 percent of Black immigrants five years and older are proficient in English, compared with 50 percent of all immigrants
- In 2013, 8.7 percent of Blacks were foreign-born
Cheryl Pearson-McNeil, senior vice president, U.S. Strategic Community Alliances and Consumer Engagement for Nielsen, notes that in order for companies to tap into the $1.3 trillion buying power of African Americans, they need to learn about what the Black community, both native-born and immigrant, is looking for in the products they buy and the services they consume.
By 2060, one of out of every six U.S. Blacks will be immigrants, and according to Pearson-McNeil, savvy marketers will be taking notice and focusing their marketing and advertising efforts on this dynamic and prosperous community.
For an interview with Pearson-McNeil, please contact Irene Ferradaz at (305) 457-3033 or Irene@JerryThomasPR.com or contact Jerry Thomas at (312) 285-5166 or firstname.lastname@example.org
Visit www.nielsen.com/africanamericans to learn more about how Black immigrants are gaining economic wealth and power.
Cheryl Pearson-McNeil is senior vice president of U.S. Strategic Community Alliances and Consumer Engagement for Nielsen, the global company that measures what consumers watch and what consumers buy. In this role she oversees the company’s multicultural advertising strategy and works extensively with news media, elected officials, community and corporate leaders to expand the company’s philanthropic engagement and to shed light on the significant purchasing power of multicultural consumers.
She is a highly accomplished thought leader and the visionary behind Nielsen’s African-American Consumer Report. This award-winning report led to the company’s historic creation of Nielsen’s Diversity Insights Series. Each report focuses on the rapidly growing Hispanic, African-American or Asian consumer base. Known for her engaging and refreshing perspective about why we buy what we buy Cheryl is a much sought after speaker.