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More Women In The Marketplace
 The Black-women's market is one of the most visible,
fastest growing, most influential segments in business today. In fact,
"The very concept of 'ethnic target marketing'" was born as a result of
the tremendous growth of African Americans.
The buying power of Black women exceeds that of Latinas and Asian women
combined, at $450 billion, and expected to grow to $600 billion in 2008.
African-American women:
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Account for 58 percent of all new car and truck sales
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Spent $57 billion on food-related items
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Spend 30 percent more than the general market on
personal/beauty products, an industry estimated at $7.5 billion
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Represented 52.5 percent of all African Americans at
19.1 million in 2000, growing an additional 9.6 percent by 2010
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Between 2001 and 2055, Black women are expected to be
the gatekeepers of the transfer of $1.1 trillion--$3.4 trillion of
their wealth to offspring.
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Are educated--there will be 200 Black-female college
graduates for every 100 Black-male graduates by 2010. The number of
master's degrees conferred to Black women increased 149.5 percent
between 1991 and 2001
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Had the highest labor-force-participation rate among
women in 2004 at 61.5 percent, versus 58.9 percent for whites
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Are very entrepreneurial. In 2004, there were more than
500,000 African-American women-owned businesses in the United Stats,
with revenues of more than $21 billion.
Muley concludes that "Based on diversity population-growth
trends, corporations will be increasingly more dependent upon diverse
women of color to achieve company sales targets. As the general market
declines in size, the diverse and women's markets take on more and more
importance. Focusing on the needs of demographic and gender groups is
essential to fundamental business growth."
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