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- US Marketing to Black Millennials Market Report 2024
Black Millennials, defined as those born between 1980 and 1996 are at a crucial point in their adulthood. As a group who came of age during significant technological and social changes, they exhibit unique qualities that set them apart from other generations. They prioritize financial stability, often opting for secure jobs with benefits and robust savings plans. Their approach to life is pragmatic but they desire greater opportunity through avenues like entrepreneurship. Many are grounded in a sense of equality and shared experience with their peers, seldom viewing their friends’ lives as easier.
This generation tends to redefine traditional norms, particularly in areas like marriage and family structures, with lower marriage rates compared to other demographics. They also display strong self-confidence and self-esteem, using personal style and self-expression as tools for mental well-being. Black Millennials are navigating complex romantic dynamics influenced by social media and cultural debates, highlighting the need for supportive relationships and community narratives.
This report looks at the following areas:
- Overview of Black Millennials in the US and cultural context
- Black Millennials’ home life and family dynamics contrasted to all Black consumers and all Millennials
- Lifestyles and milestones contrasted to all Black consumers and all Millennials
- Leisure activities and social media attitudes contrasted to all Black consumers and all Millennials
- Discretionary spending priorities contrasted to all Black consumers and all Millennials
- Stressors and concerns and expectations for the future contrasted to all Black consumers and all Millennials
- Authenticity and brand representation contrasted to all Black consumers
Black Millennials prioritize finances, value hard work, their uniqueness, family pride and self-care. They want a future rich in memorable experiences.
Courtney Rominiyi, Multicultural Consumer Insights Analyst
Market Definitions
This Report examines Black Millennials’ attitudes and behaviors from a marketing standpoint. Millennial consumers are defined as being born 1980-96. In 2024, Millennials are between the ages of 28 and 44.
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Executive Summary
- What you need to know
- What consumers want and why
- Market predictions
- Opportunities
- Provide relatable budget support with popular social media influencers
- Increase mobility for rural Black Millennials
- Support Black Millennials' love connection and revive romantic relationships
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Market Dynamics
- Market context
- Technology has shaped Black Millennials' lives, bridging gaps of connectivity, boosting entrepreneurship, education and elevating social justice
- Black Americans have a greater participation in the labor force post-pandemic, yet higher unemployment
- Graph 1: labor force participation rate, by Black and total, 2020-24
- Graph 2: unemployment rate, by Black and total, 2020-24
- Black women are beginning to take the lead as breadwinners for their families, driven by greater educational attainment
- Educational attainment of Black Millennials
- Occupations of Black Americans
- Graph 3: Black or African American employment (% distribution), by occupation, 2023
- Reversal of DEI initiatives can impact Black Millennials' position in the workforce
- Though a gap remains, Black Americans' median income growth has outpaced the total in recent years
- Graph 4: median household income ($) and annual change (%), by Black and total, 2010-20
- Rising income and a slight boost in home ownership drives increasing wealth among Black Americans
- Graph 5: homeownership rate, by Black and total, 2011-22
- Black adults are least likely to live in family households
- Graph 6: households – race/Hispanic origin, by type, 2021
- Black Millennials redefine family norms: lower marriage rates compared to other Millennials
- Black Millennials by the numbers
- Black consumers are over represented within the Millennial generation
- Graph 7: distribution of US generations, by Black and total population, 2023
- Graph 8: distribution of US generations, by race, 2023
- US population, by race and generation, 2023
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Consumer Insights
- Consumer fast facts
- Home life and family dynamics
- Children and pets primarily occupy the homes of Black Millennials
- Graph 9: household composition, by Black, Millennials, 2024
- Black Millennials communicate frequently with their parents
- Graph 10: parental influence – frequency of speaking with parents, by Black, Millennials, 2024
- Although fewer have families, Black Millennials' mindsets are comparable to the general population of Millennials
- Graph 11: attitudes toward starting a family, by Black, Millennials, 2024
- Leverage man's best friend to connect with Black Millennial men
- Graph 12: Black Millennials who live with pets, by gender,2024
- Understand the unique relationship Black consumers have with their pets
- Millennial lifestyles
- Help Black Millennials maximize their efforts for stability and practicality
- Graph 13: life circumstances and milestones, by Black, Millennial, 2024
- Despite a relatively high share of car ownership, overall, those who need one most are more likely to be without
- Graph 14: Black Millennials' car ownership, by area, 2024
- Black Millennial homeowners are twice as likely as renters to have a financial cushion
- Graph 15: Black Millennials’ with six months of savings, by home ownership, 2024
- Entrepreneurship a goal for most Black Millennials and may be fueled by a desire for financial freedom and perceived lower stress
- Graph 16: attitudes toward work, by Black, Millennials, 2024
- Family may be a motivator: Black Millennials are focused on meeting their expectations
- Graph 17: attitudes toward family pressures (any agree), by Black, Millennials, 2024
- Cultivate an authentic and relatable brand image when targeting Black Millennials
- Graph 18: attitudes toward comparisons to others (any agree), by Black, Millennials, 2024
- Free time and social media
- Black Millennials' favorite leisure activities create opportunities for product placement in TV, movies and social media videos
- Graph 19: most enjoyable leisure activities (any rank 1-3)*, by Black, Millennial, 2024
- Address mental health and distractions associated with social media; promote more informational content to help Black Millennials thrive
- Graph 20: attitudes toward social media, by Black, Millennial, 2024
- Even as experienced users, Black Millennials are still learning their way on social media
- Graph 21: attitudes toward social media (any agree), by Black, Millennials, 2024
- Spending priorites
- Black Millennials' spending priorities are consistent with the average
- Graph 22: past year discretionary spending priorities (any rank 1-3)*, by Black, Millennial, 2024
- Fashion and self-care are a top priority for Black Millennials
- Graph 23: Black Millennials' discretionary spending priorities, by past year and next 30 days*, 2024
- Self-expression and self-care are accessible indulgences for Black Millennials
- Graph 24: discretionary spending priorities – hypothetical $500 in the next 30 days (any rank 1-3)*, by Black, Millennial, 2024
- Enhance mental wellbeing of Black Millennials by celebrating diverse self-expressions conveyed through unique personal style
- Graph 25: how appearance affects mental wellbeing, by Black, generations, Millennial gender, 2024
- Higher-earning Black Millennials have more room to prioritize spending on clothing
- Graph 26: spending priorities in the past 12 months – clothing/footwear (any rank 1-3)*, by Black, Millennial and household income, 2024
- Brands and authenticity
- Black consumers are observant of media depictions, but there is nuance to their interpretations
- Graph 27: stereotypes in media representation, by Black, Millennial and Black Millennial gender, 2024
- Black Millennial parents are vigilant of media representation
- Graph 28: stereotypes in media representation, "I can tell when characters or storylines in media are written by people who have not lived the represented experience" by Black and Black Millennials, by parental status, 2024
- Continue to build on representation, focus on niche markets
- Graph 29: sees self represented in advertising, by Black, Millennial and Black Millennial gender, 2024
- Black Millennials see themselves as hardworking and unique
- Graph 30: Black Millennials' perceptions of self, Millennial peers and older/younger generations, 2024
- Millennials view themselves as the standout group with very little relation to older and younger generations
- Graph 31: Black Millennials' perceptions of self vs peers, younger/older generations – differences, 2024
- Consider Black Millennials' perception of themselves and other generations when creating messaging
- Authentic representation is essential, especially for Black Millennial women
- Graph 32: recognition and importance of representative staff in marketing and brands purchased, by Black, Millennial and Black Millennial gender, 2024
- Experience-based shopping may attract Black Millennials to small brands
- Graph 33: small brands vs large brands and reflection of values, by Black, Millennial and Black Millennial gender, 2024
- Stressors and concerns
- Finances and plans for the future are top-of-mind, and a source of stress
- Graph 34: top stressors (any rank 1-3)*, by Black, Millennial, 2024
- Finances and plans for the future are top-of-mind, and a source of stress
- In a time of rising costs, Black Millennials are concerned as they work toward more financial stability
- Graph 35: top concerns over the next six months (any rank 1-3)* – Millennials, by Black and White, 2024
- Black Millennials' geographic location impacts their stress
- Graph 36: Black Millennials' top stressor (any rank 1-3)* – "Thinking about my future," by region, 2024
- Love and stress: the uncertainty of romantic relationships weigh heavily on Black Millennials
- Graph 37: top stressor (any rank 1-3)* – "Romantic relationships," by Black, Millennial, Millennial gender, 2024
- Single Black Millennial men and women are looking for relationships, but loneliness and unhappiness are leading them
- Married or partnered Millennial women seem happier in their relationships
- Looking to the future
- Physical, financial and mental wellness are top priorities for this aging group of adults
- Graph 38: top priorites over the next five years (any rank 1-3)* – Millennials, by Black, 2024
- Black Millennials are optimistic about the future, but men have a more clear vision of what they want
- Graph 39: Black Millennials' attitudes toward life/the future (any agree), by gender, 2024
- Attitudes toward mental health, religion and spirituality
- Support Black Millennial women in their pursuit for a safe mental space
- Graph 40: Black consumers' attitudes toward mental health (any agree), by Millennials and gender, 2024
- Specialized therapy options just for Black women: Spotlight on Therapy for Black Girls
- Religion and spirituality ties Black Millennials to their lineage as most practice the faith they were raised with
- Graph 41: Black consumers' attitudes toward religion and spirituality (any agree), by Millennials and gender, 2024
- Discrepancy in religious experimentation may be impacting romantic relationships
- Graph 42: Black Millennials' agreement – "I am open to non-traditional methods of spirituality," by gender, 2024
- Higher faith retention among parents and married Black Millennials
- Graph 43: Black Millennials' agreement – "I follow the same religious/spiritual tradition I was raised with," by marital status, 2024
- Graph 44: Black Millennials' agreement – "I follow the same religious/spiritual tradition I was raised with," by parental status, 2024
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Innovation and Marketing strategies
- Marketing and advertising
- Help entrepreneurs acquire capital to run their businesses
- Black men are a prime market for pet brands
- Family and tradition; show the impact of brand legacy on families
- Show how products grow with families through generations
- Tie in nostalgia, mental health and religion to help Black Millennials relate: Spotlight on Inside Out 2
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Appendix
- Market definition
- Consumer research questions
- Consumer research questions, continued
- Consumer research methodology
- Consumer qualitative research methodology
- Generations
- Abbreviations and terms
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