Katz Profiles Economic Power of Black American Consumer
| RADIO ONLINE | Thursday, February 13, 2025 |
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 Katz Media Group |
In a new presentation, Katz Radio Insights & Analytics demonstrate how Black American consumers are not only a vital part of the population but also hold impressive economic influence, and why radio is the perfect way to connect with them. Black Americans have emerged not only as a significant demographic but as a powerful economic force. With a current population of approximately 48.2 million, making up 14.4% of the total U.S. population, this community is set to redefine market trends and consumer engagement.
Recent data highlights a striking growth in the Black American population, up 22% from 2005 to 2023, with projections showing a continued rise of 35.7% by 2060. This growth contrasts with a projected 10% decline in the non-ethnic White population, spotlighting the increasing diversity and youth of the Black demographic, which boasts a median age of 33 years.
The economic influence of Black Americans is equally noteworthy. From 2010 to 2021, Black American buying power soared by 71%, with future estimates predicting it will reach $2.10 trillion by 2026. This burgeoning financial confidence places Black consumers at the heart of future marketing strategies and brand engagements, making them a vital segment for advertisers aiming to expand market share and foster long-term customer loyalty.
Moreover, the Black American consumer market is diversifying geographically. States like Utah, Arizona, Minnesota, and Nevada have seen some of the fastest population increases, with cities like Minneapolis experiencing a 62% growth in the Black population. Such shifts underscore the importance of culturally sensitive and inclusive marketing strategies that resonate with this demographic's unique preferences and values.
In terms of media consumption, Black Americans spend over 81 hours weekly engaging with various media, showing particular affinity for radio, which holds a trust level of 78% among this group. The trust in radio underscores its potential as a powerful medium for advertisers to reach and engage with Black consumers effectively.
Click here to explore an updated analysis from Katz Radio Insights & Analytics team.
