Black Consumers' Attitudes toward Car Buying - US - June 2015
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- consumer lifestyles, marketing, promotion
- June 2015
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“Currently at more than $1 trillion, Black spending power is expected to climb by 2019 – and growth continues to outpace that of Whites, despite lower incomes. Black consumers’ love for cars, the role they play in shaping their image, attraction to technology, and high receptivity to advertising makes them a prime target for marketers.”
– Tonya Roberts, Multicultural Analyst
This report covers the following areas:
The Black population represents roughly 13% of the US population, and more than $1 trillion in spending power. The growth in the Black population and buying power continues to outpace that of Whites. Despite having lower household incomes (driven by a higher percentage of single households), Black consumers spend on average about the same as other consumers on vehicles. Blacks are very image conscious and believe strongly that what a person drives says a lot about them. Their vehicle is an extension of who they are, and they look for vehicles that are not only stylish but also well equipped with the latest advancements in technology.
Black consumers lead very different lifestyles and have different family dynamics from mainstream America. They are highly receptive to advertising that not only speaks to them on a personal level but also on a cultural level. Marketers that are winning among them are brands that have been building a long-standing relationship. Blacks are very image-driven, and what they drive says a lot about them. While styling is important, Blacks also rely on technology innovations to send a message that they are smart, tech-savvy, and serious about protecting what matters the most – their family, which is why safety innovations are very appealing. At the same time, the majority own the latest personal tech devices, and they are looking for vehicles that help them to stay connected and integrated with these devices. At the end of the day, Blacks are looking for a vehicle that gives them conveniences and a sense of control through its safety and security features.
This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:
What They Want. Why They Want It.
Who’s Winning. How To Stay Ahead.
Size, Segments, Shares And Forecasts: How It All Adds Up.
New Ideas. New Products. New Potential.
Where The White Space Is. How To Make It Yours.
What’s Shaping Demand – Today And Tomorrow.