Black Americans control over a trillion dollars

Black Americans control over a trillion dollars
I wonder what would happen if we spent it wisely.
Schools, Good books, good teachers, I think we can purchase that with a billion dollars and have some left over for sneakers.
 While the numbers indicate that Black folks are an important part of the buying public, companies spend just three-percent (3%) of their advertising budgets marketing to African Africans consumers. Cheryl Pearson McNeil, a Vice President at Nielsen, warns they are missing out.

“The black population is young, hip and highly influential. We are growing 64 percent faster than the general market,” she explains.

However, Noel King, a reporter for NPR’s Marketplace, cautions companies against trying to reach Black consumers without knowing our needs.

“If you want to market to those groups, then you should know what particular group buys your stuff,” says King. “Blacks tend to spend more on electronics, utilities, groceries, footwear. They spend a lot less on new cars, alcohol, entertainment, health care, and pensions.”

Despite our collective buying power, little of our money stays in Black communities or is spent on Black-owned businesses.