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African-American Buying Power and Spending Are Up 08/16/2005
The Selig Center at the University of Georgia estimates and projects that the buying power of African-Americans for 1990-2007 will increase from $316.5 billion in 1990 to $852.8 billion in 2007, an increase of 170% in this 17-year range. The African-American market will grow much faster than the Caucasian market, where buying power will increase by only 112%, according to the Selig Center. Additionally, African-Americans continue to increase their spending in proportion to their rising income, according to the “Buying Power of Black America” study. Black households also continue to spend more collectively than Hispanics or other minorities in virtually every consumer product and service category. Echo Media works with a number of print media options that can help advertisers access the African-American community, from newspapers to co-op envelopes.
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