Did you know that Africans Americans have the most buying power out of any other race? Last year, alone, we spent 1.1 TRILLION dollars collectively. That number is estimated to increase to 1.3 trillion by 2017. According to a recent study by the Nielsen Company, "African-Americans make an average of 156 shopping trips per year, compared with 146 for the total market." We are the main consumers in a white dominated market. I don't know about you, but that's a problem to me. A BIG problem.
African Americans are literally trend setters. Whatever is poppin in our community is what companies look out for because they know other races of people will follow the trend. The sad part is, companies only spend about 3% on advertising for the black community. Does that sound right? I mean if we're spending 1 TRILLION dollars every year there should be more money invested in advertising to our community, at least. But that just goes to show how much we don't really matter to big corporations and companies which are mainly white owned. They want our money and that's it. The rich whites get richer and most of them don't support or agree with any of the social issues occurring in the black community.
Why should we continue to support people and companies that don't support us? Or our lives? Now, of course, we can't just completely stop buying from major corporations such as Walmart, but what we can do is stop spending so much. There are so many black owned businesses with good products that the black community won't support. It's usually for one of two reasons (or both): 1. The products are "too expensive" or we don't know "if it will actually work well." All I can say to that is "Wow! Really?"
We don't mind spending $100+ on an MK watch or $60 on one polo shirt, but when it comes to products made by our own it costs "too much". The same way those corporations need to make profits in order to stay in business, so do black owned businesses. I, personally, do not mind investing money into black owned businesses. I want to see my community prosper and do great things. So if someone has a good product or business, I'm more than willing to support them. Even if it's a small business that's not well known or a "mom and pop" shop. Those are the ones that need our dollars the most. Or college students that are being entrepreneurs whether they do hair, nails, have a clothing line, make jewelry, etc. Clearly they're not well known since they're students and just starting out, but if you like the product or business you shouldn't have a problem supporting it especially if the price is reasonable.
Also, when we do support our own businesses we shouldn't ask for discounts. If you have no problem paying full price at Walmart, MK, Polo, or Nike, you shouldn't have a problem paying full price for black owned businesses. Stop asking for discounts! It's insulting to the business owner and just rude. Just because we're both black doesn't mean they "owe" you a discount or anything for that matter. If you want to support them, do so with generosity and wholeheartedly. I mean, why wouldn't we want to see each other prosper and grow?
At the end of the day, money is white. The economy and most corporations are dominated and run by white people. So why not spend black? Why not invest your white dollars into your black community? The black community has such a strong buying power. We can turn that power into prosperity for each other. Our black power is stronger than we can even imagine.
