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Tuesday, March 12, 2013

Global and US Black Consumers' Share of Wallet 2013

Black median household income decreased by slightly more than $2,000 from 2008-11, more so than for any other ethnic or racial group. Yet, prices for everyday essentials such as food, transportation, and utilities continue to rise. This means that Black household budgets are being shifted from discretionary categories such as apparel, entertainment, and personal care to cover more essential household expenses.

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What you need to know
Data sources
Consumer survey data
Abbreviations and terms

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Category expenditures
Black household expenditures increased in almost all categories at a higher rate than other households
Figure 1: Percent change of average annual expenditures 2003-11, by category and race of reference person,
Blacks spend higher percentage of income on housing, apparel, cash contributions
Figure 2: Distribution of average annual expenditures, by category and race of reference person, 2011
Higher income Black households report spending more this year
Figure 3: Changes in spending habits, by household income, 2010 and 2012
Households spending more on basic necessities, cutting back on other items
Figure 4: Changes in household spending, October 2012
The consumer
Black consumers less likely to say they are significantly worse off
Figure 5: Economic status in the last 12 months, by race/Hispanic origin, April 2011-June 2012
Black respondents least likely to report being good financial managers
Figure 6: Attitudes toward personal finance, by race/Hispanic origin, April 2011-June 2012
Black purchasing power
Figure 7: Purchasing power, by race/Hispanic origin, 1990-2017
U.S. Black population
Figure 8: Population, by race/Hispanic origin, 2008-18
Blacks have lowest median income compared to other groups
Figure 9: Median household income, by race and Hispanic origin of householder, 2011
What we think

Hemendra Parmar
State Tower
90 State Street, Suite 700
Albany, NY 12207
United States
Tel: +1-518-618-1030

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