African-American buying power

The rise of affluent households has helped bolster African-American buying power. Between 2005 and 2014 the number of African-American households with an income of $100,000 or more jumped 83%, from 1.1 million to around two million. Comparatively, the total number of American households in the $100,000+ income bracket grew only 53%. Likewise, the number of black households with incomes ranging between $75,000 and $100,000 increased by 25%. As the two-tier economy continues to reach into all demographic segments, it is likely that the buying power of affluent black households will continue to grow at a relatively rapid pace, finds Packaged Facts.