The consumer segment is driving black buying power toward a projected $1.5 trillion by 2021.
“We have power, we have influence, we can do things others have told us we can't do.” So declared Rep. Maxine Waters (D-Calif.) upon accepting the Social Humanitarian Award at BET’s 2017 Black Girls Rock! celebration in August.
And Nielsen’s new report focusing on black females -- "African-American Women: Our Science, Her Magic" -- underscores that declaration. Chief among the report’s findings: African-American women’s consumer preferences and brand loyalties are propelling total black spending power toward a record $1.5 trillion by 2021.
Part of Nielsen’s Diverse Intelligence Series, the report was introduced at the Congressional Black Caucus Foundation’s annual Legislative Conference (Sept. 21) in Washington, D.C. by Waters and Cheryl Grace, Nielsen’s senior VP of U.S. Strategic Community Alliances and Consumer Engagement.