GITNUX REPORT 2024

Black Consumer Spending Statistics: Power, Trends, and Insights Revealed

Unlocking the Power of Black Consumer Spending: Trends, Insights, & Impact in 2021 Explored!

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

Black consumers spend 19% more on vehicles than the total market

Statistic 2

41% of Black households are more likely to spend money on hair care

Statistic 3

44% of Black consumers are more likely to buy natural hair care products

Statistic 4

Black consumers spend $573 million annually on personal soap and bath needs

Statistic 5

Black consumers spend $151 million annually on women's fragrances

Statistic 6

Black consumers spend $941 million annually on ethnic hair and beauty aids

Statistic 7

Black consumers spend $147 million annually on men's toiletries

Statistic 8

Black consumers spend $3.7 billion annually on hair care products

Statistic 9

Black consumers spend $573 million annually on personal soap and bath needs

Statistic 10

Black consumers spend $151 million annually on women's fragrances

Statistic 11

Black consumers spend $941 million annually on ethnic hair and beauty aids

Statistic 12

Black consumers spend $147 million annually on men's toiletries

Statistic 13

Black consumers spend $3.7 billion annually on hair care products

Statistic 14

Black consumers spend $573 million annually on personal soap and bath needs

Statistic 15

Black consumers spend $151 million annually on women's fragrances

Statistic 16

Black consumers spend $941 million annually on ethnic hair and beauty aids

Statistic 17

Black consumers spend $147 million annually on men's toiletries

Statistic 18

Black consumers spend $3.7 billion annually on hair care products

Statistic 19

Black consumers spend $573 million annually on personal soap and bath needs

Statistic 20

73% of Black consumers believe brands can help promote positive change

Statistic 21

55% of Black consumers say they're willing to pay more for a product that is consistent with the image they want to convey

Statistic 22

Black consumers are 20% more likely to pay extra for a product that is consistent with their image

Statistic 23

62% of Black consumers feel it's important that their values align with the brands they buy

Statistic 24

Black consumers are 58% more likely to expect brands to take a stance on social issues

Statistic 25

Black consumers are 23% more likely to try new products

Statistic 26

Black consumers are 25% more likely to say they will pay extra for high-quality items

Statistic 27

Black consumers are 44% more likely to buy from brands that support social causes

Statistic 28

Black consumers are 37% more likely to buy from brands that support racial equality

Statistic 29

Black consumers are 33% more likely to expect companies to invest in the community

Statistic 30

Black consumers are 39% more likely to buy from brands that support education initiatives

Statistic 31

Black consumers are 35% more likely to buy from brands that support environmental causes

Statistic 32

Black consumers are 41% more likely to buy from brands that support diversity and inclusion

Statistic 33

Black consumers are 36% more likely to buy from brands that support mental health initiatives

Statistic 34

Black consumers are 38% more likely to buy from brands that support youth programs

Statistic 35

Black consumers are 34% more likely to buy from brands that support economic empowerment

Statistic 36

Black consumers are 42% more likely to respond to mobile ads

Statistic 37

Black consumers are 96% more likely to engage in social networking on their mobile devices

Statistic 38

Black consumers are 42% more likely to create a social media profile

Statistic 39

Black consumers are 42% more likely to use mobile banking or finance apps

Statistic 40

Black consumers are 20% more likely to use Twitter

Statistic 41

Black consumers are 31% more likely to spend money on branded headphones

Statistic 42

Black consumers are 42% more likely to use ride-sharing apps

Statistic 43

Black consumers are 18% more likely to use food delivery apps

Statistic 44

Black consumers are 28% more likely to use streaming services

Statistic 45

Black consumers are 22% more likely to use mobile payment apps

Statistic 46

Black consumers are 26% more likely to use fitness and health apps

Statistic 47

Black consumers are 30% more likely to use mobile gaming apps

Statistic 48

Black consumers are 24% more likely to use mobile shopping apps

Statistic 49

Black consumers are 27% more likely to use mobile news apps

Statistic 50

Black consumers are 29% more likely to use mobile entertainment apps

Statistic 51

Black buying power reached $1.6 trillion in 2021

Statistic 52

Black Americans spend $1.2 trillion annually

Statistic 53

Black consumers are 14% more likely to start a business than their white counterparts

Statistic 54

Black consumers spend 18% more on bottled water

Statistic 55

Black consumers spend $810 million annually on bottled water

Statistic 56

Black consumers spend $54 million annually on oat milk

Statistic 57

Black consumers spend $473 million annually on dry grains and vegetables

Statistic 58

Black consumers spend $54 million annually on oat milk

Statistic 59

Black consumers spend $473 million annually on dry grains and vegetables

Statistic 60

Black consumers spend $810 million annually on bottled water

Statistic 61

Black consumers spend $54 million annually on oat milk

Statistic 62

Black consumers spend $473 million annually on dry grains and vegetables

Statistic 63

Black consumers spend $810 million annually on bottled water

Statistic 64

Black consumers are 14% more likely to shop at convenience stores

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Summary

  • Black buying power reached $1.6 trillion in 2021
  • Black consumers are 14% more likely to start a business than their white counterparts
  • 41% of Black households are more likely to spend money on hair care
  • Black Americans spend $1.2 trillion annually
  • Black consumers are 42% more likely to respond to mobile ads
  • 73% of Black consumers believe brands can help promote positive change
  • Black consumers spend 19% more on vehicles than the total market
  • 44% of Black consumers are more likely to buy natural hair care products
  • Black consumers are 96% more likely to engage in social networking on their mobile devices
  • Black consumers spend $573 million annually on personal soap and bath needs
  • 55% of Black consumers say they're willing to pay more for a product that is consistent with the image they want to convey
  • Black consumers are 20% more likely to pay extra for a product that is consistent with their image
  • Black consumers are 42% more likely to create a social media profile
  • Black consumers spend 18% more on bottled water
  • 62% of Black consumers feel it's important that their values align with the brands they buy

With Black buying power soaring to $1.6 trillion in 2021, its clear that Black consumers are more than just trendsetters—theyre trailblazers. From splurging on hair care to engaging in social networking on their mobile devices, Black Americans are shaking up the market in more ways than one. If you thought their spending habits were just about products, think again—Black consumers are making a powerful statement with every purchase, favoring brands that align with their values and are unafraid to take a stand. This blog post delves into the fascinating world of Black consumer spending statistics, revealing a tapestry of trends that showcase a community unapologetically shaping the future of commerce.

Automotive

  • Black consumers spend 19% more on vehicles than the total market

Interpretation

In a world where the road to success is often paved with luxury cars, Black consumers seem to be speeding ahead of the competition. With a penchant for premium vehicles, they not only have a need for speed but also a taste for quality. Perhaps their drive is fueled not just by horsepower but also by a desire to ride in style, making them the true kings and queens of the asphalt jungle.

Beauty and Personal Care

  • 41% of Black households are more likely to spend money on hair care
  • 44% of Black consumers are more likely to buy natural hair care products
  • Black consumers spend $573 million annually on personal soap and bath needs
  • Black consumers spend $151 million annually on women's fragrances
  • Black consumers spend $941 million annually on ethnic hair and beauty aids
  • Black consumers spend $147 million annually on men's toiletries
  • Black consumers spend $3.7 billion annually on hair care products
  • Black consumers spend $573 million annually on personal soap and bath needs
  • Black consumers spend $151 million annually on women's fragrances
  • Black consumers spend $941 million annually on ethnic hair and beauty aids
  • Black consumers spend $147 million annually on men's toiletries
  • Black consumers spend $3.7 billion annually on hair care products
  • Black consumers spend $573 million annually on personal soap and bath needs
  • Black consumers spend $151 million annually on women's fragrances
  • Black consumers spend $941 million annually on ethnic hair and beauty aids
  • Black consumers spend $147 million annually on men's toiletries
  • Black consumers spend $3.7 billion annually on hair care products
  • Black consumers spend $573 million annually on personal soap and bath needs

Interpretation

In a world where beauty standards and self-care intertwine, Black consumers are making a bold statement through their spending habits. These statistics not only illuminate the economic power within Black households but also underscore the cultural significance placed on hair and personal grooming. From natural hair care products to ethnic beauty aids, the allocation of financial resources reflects a steadfast commitment to self-expression and empowerment. In a society that often overlooks the nuances of Black beauty, these numbers serve as a testimony to the unapologetic celebration of identity through the avenue of personal care.

Brand Loyalty and Perception

  • 73% of Black consumers believe brands can help promote positive change
  • 55% of Black consumers say they're willing to pay more for a product that is consistent with the image they want to convey
  • Black consumers are 20% more likely to pay extra for a product that is consistent with their image
  • 62% of Black consumers feel it's important that their values align with the brands they buy
  • Black consumers are 58% more likely to expect brands to take a stance on social issues
  • Black consumers are 23% more likely to try new products
  • Black consumers are 25% more likely to say they will pay extra for high-quality items
  • Black consumers are 44% more likely to buy from brands that support social causes
  • Black consumers are 37% more likely to buy from brands that support racial equality
  • Black consumers are 33% more likely to expect companies to invest in the community
  • Black consumers are 39% more likely to buy from brands that support education initiatives
  • Black consumers are 35% more likely to buy from brands that support environmental causes
  • Black consumers are 41% more likely to buy from brands that support diversity and inclusion
  • Black consumers are 36% more likely to buy from brands that support mental health initiatives
  • Black consumers are 38% more likely to buy from brands that support youth programs
  • Black consumers are 34% more likely to buy from brands that support economic empowerment

Interpretation

In a world where consumer choices speak volumes, Black consumers are not just shopping for products; they are making statements about their values, beliefs, and aspirations through their purchases. From expecting brands to champion social causes, racial equality, and community investments to seeking products that align with their identities and values, Black consumers are a force to be reckoned with in the marketplace. They are not just buyers; they are advocates for change, equality, and progress. Their purchasing power is not just about acquiring goods; it's about shaping a world where their voices are heard and their community is uplifted. Brands take note – supporting positive change is not just a trend; it's a mandate from a consumer base that demands authenticity, accountability, and impact.

Digital and Technology

  • Black consumers are 42% more likely to respond to mobile ads
  • Black consumers are 96% more likely to engage in social networking on their mobile devices
  • Black consumers are 42% more likely to create a social media profile
  • Black consumers are 42% more likely to use mobile banking or finance apps
  • Black consumers are 20% more likely to use Twitter
  • Black consumers are 31% more likely to spend money on branded headphones
  • Black consumers are 42% more likely to use ride-sharing apps
  • Black consumers are 18% more likely to use food delivery apps
  • Black consumers are 28% more likely to use streaming services
  • Black consumers are 22% more likely to use mobile payment apps
  • Black consumers are 26% more likely to use fitness and health apps
  • Black consumers are 30% more likely to use mobile gaming apps
  • Black consumers are 24% more likely to use mobile shopping apps
  • Black consumers are 27% more likely to use mobile news apps
  • Black consumers are 29% more likely to use mobile entertainment apps

Interpretation

In a world that's constantly on the move, Black consumers are leading the charge in embracing mobile technology like never before. From banking and social networking to gaming and entertainment, the statistics speak volumes about their digital prowess. It seems Black consumers not only have their fingers on the pulse of the latest trends but also their thumbs on the screens of their mobile devices, showing a clear preference for convenience and connectivity. So, if you're looking to capture the attention of this tech-savvy demographic, better make sure your brand is mobile-friendly, or risk being left in the digital dust.

Economic Power

  • Black buying power reached $1.6 trillion in 2021
  • Black Americans spend $1.2 trillion annually

Interpretation

In a world where money talks, Black consumers are not just whispering – they're booming. With a buying power of $1.6 trillion and an annual spend of $1.2 trillion, Black Americans are making a loud statement in the marketplace. From luxury goods to everyday essentials, this powerhouse demographic is not just buying products, they're shaping trends, driving innovation, and demanding representation. So, to anyone still underestimating the economic influence of Black consumers, it's time to listen up and follow the money.

Entrepreneurship

  • Black consumers are 14% more likely to start a business than their white counterparts

Interpretation

In a world where systemic barriers often hinder the progress of Black entrepreneurs, these statistics highlight a resilience and determination that transcends inequality. Black consumer spending isn't just about purchasing power; it's a reflection of a community that refuses to be boxed in by limitations. So when the numbers show that Black consumers are 14% more likely to start a business than their white counterparts, it's not just a statistic – it's a testament to the untapped potential and unyielding spirit of Black entrepreneurship. It's a reminder that innovation knows no bounds, and opportunity can thrive in the face of adversity.

Food and Beverage

  • Black consumers spend 18% more on bottled water
  • Black consumers spend $810 million annually on bottled water
  • Black consumers spend $54 million annually on oat milk
  • Black consumers spend $473 million annually on dry grains and vegetables
  • Black consumers spend $54 million annually on oat milk
  • Black consumers spend $473 million annually on dry grains and vegetables
  • Black consumers spend $810 million annually on bottled water
  • Black consumers spend $54 million annually on oat milk
  • Black consumers spend $473 million annually on dry grains and vegetables
  • Black consumers spend $810 million annually on bottled water

Interpretation

These statistics on Black consumer spending reveal a fascinating mix of health consciousness and dietary preferences. It seems that bottled water has become a staple in their purchasing habits, with an emphasis on hydration and convenience. The significant investments in oat milk indicate a growing interest in plant-based alternatives, perhaps signaling a shift towards more sustainable and ethical consumption. And let's not forget the substantial expenditure on dry grains and vegetables, underscoring a commitment to wholesome and nutritious food choices. In essence, these numbers not only reflect consumer behavior but also speak to the evolving tastes and values within the Black community.

Retail

  • Black consumers are 14% more likely to shop at convenience stores

Interpretation

Black consumers, known for their savvy approach to spending, are proving that convenience truly is key by being 14% more likely to frequent convenience stores. This trend not only demonstrates a practical aspect of their consumer behavior but also highlights their ability to value both quality and efficiency in their shopping habits. Perhaps it's time for convenience stores to take note and cater more directly to this discerning demographic.

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