THE BUYING
POWER OF
BLACK AMERICA - 2003
This is the eleventh edition of Target Market News' annual report
on African-American consumers. Again, most of the increases were
in categories most influenced by women's purchases. The economic
slowdown continues and surely will have an impact on future spending.
In 2003 black households had $656 billion in earned income.
Apparel Products and Services . . . . . . . . . . . . . $23.0 billion
Appliances. . . . . . . . . . . . . . . . . . . . . . . . 2.5 billion
Beverages (Alcoholic) . . . . . . . . . . . . . . . . . . 2.5 billion
Beverages (Non-Alcoholic) . . . . . . . . . . . . . . . . 2.5 billion
Books . . . . . . . . . . . . . . . . . . . . . . . . . . 326 million
Cars, Trucks and Motorcycles . . . . . . . . . . . . . .32.6 billion*
Computers and Related Equipment . . . . . . . . . . . . . 1.9 billion
Consumer Electronics. . . . . . . . . . . . . . . . . . . 3.5 billion
Contributions . . . . . . . . . . . . . . . . . . . . . 12.3 billion
Education . . . . . . . . . . . . . . . . . . . . . . . . 6.2 billion
Entertainment and Leisure . . . . . . . . . . . . . . . . 2.7 billion
Food. . . . . . . . . . . . . . . . . . . . . . . . . . 56.5 billion
Gifts . . . . . . . . . . . . . . . . . . . . . . . . . . 7.9 billion
Health Care . . . . . . . . . . . . . . . . . . . . . . 18.0 billion
Household Furnishings and Equipment . . . . . . . . . . 11.9 billion
Housewares. . . . . . . . . . . . . . . . . . . . . . . . 973 million
Housing and related charges . . . . . . . . . . . . . . 145.2 billion
Insurance . . . . . . . . . . . . . . . . . . . . . . . 16.2 billion
Media . . . . . . . . . . . . . . . . . . . . . . . . . . 6.0 billion
Personal Care Products and Services . . . . . . . . . . . 6.5 billion
Sports and Recreational Equipment . . . . . . . . . . . . 900 million
Telephone Services. . . . . . . . . . . . . . . . . . . 14.4 billion
Tobacco Products and Smoking Supplies . . . . . . . . . . 2.8 billion
Toys, Games and Pets. . . . . . . . . . . . . . . . . . . 2.3 billion
Transportation, Travel and Lodging. . . . . . . . . . . . 4.8 billion
Copyright (c) 2004 Target Market News. All rights reserved. From
"The Buying
Power of Black America - 2004" Do not cite without proper credit.
*This total does not include all automotive related expenditures
listed
in the report.
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