Black Consumers and Money Management - US - May 2016
"Black consumers are eager for help and in need of money management services. Black consumers’ household structures, dynamics, and incomes differ from the total population, presenting them with specific challenges in managing their money."
- Tonya Roberts, Multicultural Analyst
This report looks at the following areas:
- Blacks need help managing their money
- Many forced to make cuts to meet expenses
- Significant issue of trust and fairness needs to be addressed
Many Blacks may not know where to go to begin an effective money management regimen, but they are seeking answers. There is a great opportunity for brands to build long-term relationships with optimistic Black consumers who can be cultivated to become a new segment of growing affluence.
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