Few people realize the true spending power African Americans hold. According to Black Enterprise, the buying power of African-Americans was projected to be 1.1 trillion in 2015. A report conducted by the Nielsen company indicated that the average African-American income nationwide is $42,290. Calvin Harris Jr., president & CEO of the National Association of Black Accounts concluded about the study that “the African-American population is a tremendous financial asset to the country’s economic development”.
As African-Americans, we have the financial power to support and sustain our own community. By pouring money into our community we have the power to fuel more black owned corporations, creating more jobs and a true ruling power in this country.
Instead of shopping at your local giant supermarket and local shops, consider researching your local area for black owned businesses. There are also a variety of black owned businesses online, WeBuyBlack is a great resource to shop. “WeBuyBlack.com is the largest online marketplace for Black (African-American and those of African descent) businesses and individual sellers. This digital marketplace houses a variety of shops containing items from clothing, jewelry, art, home decor and much more. Do something for your community today by shopping black owned businesses first.
Check out WeBuyBlack and comment below your favorite shop.