$307.8 billion in 1990 to $572.1 billion in 2001, up by 85.9 percent. In 2001, the nation's share of total buying power that is black will be 8.1 percent, up from 7.4 percent in 1990. Perhaps the most substantial and continued growth of black buying power increase is due to the number of jobs across the nation. Employment opportunities have improved for African Americans. The Census Bureau indicates that, in the past decade, the gap in high-school completions between blacks and whites in the 25 to 29 year old age group narrowed to the point where there was no statistical difference. The increasing number of blacks starting and expanding their own businesses also contributes to the gains in buying power. In addition, favorable demographic trends reinforce these positive economic forces. African American consumers have traditionally spent more than other population segments on food, clothing, telephone service, media and communications products (e.g., cable subscriptions, online access). The habits behind these tendencies are culturally based, and unique to the African American market. African Americans more often rely on brands to make informed purchase decisions. Brands help to define status, identity and trendiness for African Americans, especially early adopters and trendsetters. African American are also willing to pay more for brands. African Americans are also more loyal to brands than the general market and are less likely to prefer no-branded alternatives....
