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The African-American Community Embraces Niche Market Publications 04/12/2005
As the U.S. consumer market becomes more diverse, advertising and media must be tailored to each market niche in order to effectively capitalize on the dollars being spent by the African-American consumer. Studies estimate that, in 2008, African-American consumers will comprise the largest ethnic buying power group in America, reaching $921 billion in spending (Source: University of Georgia’s Selig Center for Economic Growth). According to a recent Black Readership Study conducted by Amalgamated Publishers, Inc. and CNW Marketing Research, blacks overwhelmingly prefer their own media. Eighty-seven percent (87%) of readers who read black newspapers regularly do not read mainstream daily newspapers. Buying power data suggests that companies who cling to one general marketing approach for all consumers increasingly miss opportunities to grow their bottom line. Advertisers should actively consider media to target able-to-buy African-Americans—a growing, dynamic and profitable segment of America’s consumer market. According to a 2003 Target Market News Study, the black consumer market in Chicago represents $40 billion in spending power, and nationally, black spending power estimates exceed $631 billion. Echo Media works with a wide range of programs targeted to the African-American community, from newspapers and magazines to co-op envelopes and catalogs.
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