THE SWITCH

THE UNCOMFORTABALE TRUTH

African-American buying power surpassed $1 trillion in 2016 and is expected to reach $1.5 trillion by 2021. That makes Black Americans the largest racial consumer market. To illustrate how massive this figure is, if African Americans’ purchasing power equated to a country’s GDP, we would be the 16th largest country in the world! What does this mean? Black consumers have more economic power than we may realize.

African-American buying power surpassed $1 trillion in 2016 and is expected to reach $1.5 trillion by 2021. That makes Black Americans the largest racial consumer market. To illustrate how massive this figure is, if African Americans’ purchasing power equated to a country’s GDP, we would be the 16th largest country in the world! What does this mean? Black consumers have more economic power than we may realize.

What would happen if they increased their spending from 6₵ to 12₵ of the dollar (and as economists are accustomed to saying, everything else remained the same)?

 

The answer: More than 1/2 million more jobs might be created for blacks and unemployment among blacks could decrease from from 13.6% to 10.4%.

 

This is why we need to make…

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