Black Buying Power

/Black Buying Power
Black Buying Power 2017-09-26T11:45:13+00:00

African American Buying Power Rankings By State

African Americans in South Carolina saw their buying power (disposable income after taxes) increase by $3 billion (10.9 %) since 2010 and ranks #6 among states in the U.S. and Washington, DC.

Rank State Percentage of Buying Power
No. 1 Washington D.C. 26.3%
No. 2 Mississippi 23.6%
No. 3 Maryland 23.1%
No. 4 Georgia 22.1%
No. 5 Louisiana 19.8%
No. 6 South Carolina 17.7%
No. 7 Alabama 17.4%
No. 8 Delaware 15.1%
No. 9 North Carolina 14.8%
No. 10 Virginia 13.0%

African American Consumption

According to the Selig Center for Economic Growth (Terry College of Business, University of Georgia), nationally African Americans spent more on the following:

  • Electronics
  • Utilities
  • Groceries
  • Footwear

They also spent less on the following:

  • New Cars
  • Alcohol
  • Health Care
  • Entertainment
  • Pensions

The Selig Center also reports that nationally, African Americans buying power reached $1 Trillion dollars in 2013 and will grow to $1.3 Trillion in 2018!

Race Total Buying Power 2010 Total
White $122,671,387 $109,417,643
African American/Black $27,318,849 $24,633,034
Hispanic $4,911,167 $3,873,318