Description

“Black Millennials have been impacted by the pandemic more negatively than their peers. Some have suffered financial setbacks and many have lost loved ones due to COVID-19. As a result, it will take these consumers a bit longer to reach a post-pandemic ‘next normal.’ Brands can support these consumers by acknowledging their reality and expressing support for their community.”
– Dana Macke, Associate Director – Lifestyles & Leisure

This Report looks at the following areas:

  • The impact of COVID-19 on Black Millennials’ consumer behavior
  • Black Millennials’ attitudes toward corporate responsibility
  • Use and perceptions of social media platforms among Black Millennials
  • Strategies for reaching Black Millennials with advertising

Table of Contents

  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Definition
    • Scope
    • Market context
    • Economic and other assumptions
    • COVID-19: US context
  2. Executive Summary

    • Top takeaways: what Black Millennials want
    • Market overview
      • Figure 1: Estimated US Millennial population by race, in millions, 2021
    • Impact of COVID-19 on Black Millennials
      • Figure 2: Short, medium and long term impact of COVID-19 on Black Millennials, 2021
    • Opportunities and challenges
    • Not all Black Millennials face the same financial challenges
      • Figure 3: Self-reported state of financial health, by household income, 2021
    • Black Millennials show support for companies that support them
      • Figure 4: Drivers of brand loyalty, by generation, 2021
    • Multiple strategies will work to reach Black Millennials online
      • Figure 5: Preferred advertising channels, 2021
      • Figure 6: Attitudes toward influence of social media influencers and celebrities, 2021
      • Figure 7: Attitudes toward advertisements, by generation, 2021
  3. Target Audience – Key Takeaways

    • An audience of more than 11 million consumers
    • Lower educational attainment puts Black Millennials at a disadvantage
    • Black Millennial budgets will be tighter for a while
  4. Black Millennials by the Numbers

    • One in four Black Americans is a Millennial
      • Figure 8: Estimated US Millennial population by race, in millions, 2021
      • Figure 9: Estimated US resident population, 2021
    • Impact of COVID-19 on Black Millennials
    • COVID-19 reduced Black adults’ life expectancy
    • Lower COVID-19 vaccination rates among communities of color
    • Youngest Black Millennials hit hardest by job losses
      • Figure 10: Unemployment rate of the civilian noninstitutional population by race, seasonally adjusted, 2020-21
      • Figure 11: Unemployment rate of the civilian noninstitutional population by race, seasonally adjusted annual averages for 2020
    • Just over one third of Black Millennials feel their financial situation is healthy
      • Figure 12: Self-reported state of financial health, by household income, 2021
  5. Characteristics of Black Millennials

    • Not all Millennials are on the same trajectory
    • Marriage
      • Figure 13: Married share of the population, 2010-20
    • Children
      • Figure 14: Households with related children under 18 in the household, by race and Hispanic origin of householder, 2020
      • Figure 15: Households, by detailed type, 2020
    • Other Millennials out-earn their Black peers
      • Figure 16: Median household income, by age of householder, 2019
    • Education helps, but still doesn’t close the gap
      • Figure 17: Percentage of people aged 25 years and over who have completed college, by race, 2020
      • Figure 18: Mean annual earnings of workers aged 18 years and over, by educational attainment, 2019
    • One in five Black Millennials becomes a homeowner by the age of 30
      • Figure 19: Homeownership rates by age of householder, Q1 2021
  6. Market Factors

    • Among Black Millennials, unemployment rate remains above 8.5%
    • Employment trends in the near future will vary by state
    • Overall income will remain lower
      • Figure 20: Unemployment rate of the civilian noninstitutional population aged 25-39, by race, 2021
    • Consumer prices are edging upwards
      • Figure 21: Consumer Price Index change from previous period, 2020-21
    • Black consumers are avid social media users
      • Figure 22: Social media use, at least daily, among total and Black adults, 2021
  7. Companies and Brands – Key Takeaways

    • Significant potential to reach this audience online
    • Sephora sets an example for all beauty retailers
    • Mintel Trend Driver Rights offers opportunities
  8. Competitive Strategies

    • Partnering with Black influencers
      • Figure 23: Attitudes toward influence of social media influencers and celebrities, 2021
    • Spotlight on The Crib Around the Corner
      • Figure 24: AT&T-sponsored TikTok channel for Black creators, 2021
    • Corporate commitments to underserved communities
    • Pledging support to Black-owned beauty brands
      • Figure 25: Attitudes toward grooming and personal appearance, by generation, 2021
  9. Market Opportunities

    • Mintel Global Trend Drivers
      • Figure 26: Mintel Global Trend Driver, Rights
    • Continue to empower Black Millennials
      • Figure 27: Drivers of brand loyalty, by generation, 2021
    • Respect Black Millennials’ needs
    • Relaxation
      • Figure 28: Activities that Black Millennials wish they had more time to do, 2021
    • Education
      • Figure 29: Percentage of Black Millennials who wish they had more time to learn new skills, 2021
    • Protect Black Millennials’ right to data privacy
      • Figure 30: Attitudes toward trustworthiness of social media sites, 2021
  10. The Consumer – Key Takeaways

    • Privacy is important to Black Millennials
    • Brands can boost affinity by interacting with individuals online
    • Social media advertising offers best opportunity to reach Black Millennials
    • Communicating value is essential for building brand loyalty
  11. Corporate Responsibility

    • Black Millennials expect brands to respect privacy and pay a living wage
    • TURF analysis
      • Figure 31: TURF analysis – Corporate responsibility, 2021
    • Compared to men, women hold brands to a higher standard
      • Figure 32: Attitudes toward corporate responsibility, by gender, 2021
    • Two thirds of Black adults see benefit in boycotting
      • Figure 33: Agreement that boycotting brands is sometimes necessary, by generation, 2021
  12. Social Media Use and Perceptions

    • Brands can show they care by engaging with consumers on social media
      • Figure 34: Attitude toward brands engaging with consumers on social media, 2021
    • YouTube gets top ratings among Black Millennials
      • Figure 35: Social media associations, 2021
    • Black Millennials more engaged with Twitter than other Millennials
      • Figure 36: Twitter associations, 2021
    • Facebook, Twitter and Instagram get negative ratings from a small group of Black Millennials
      • Figure 37: Correspondence analysis – Symmetrical map – Social media associations, May 2021
  13. Advertising Approaches

    • Social media is best way for marketers to reach Black Millennials
    • Advertising associated with video and television content is also effective
      • Figure 38: Preferred advertising channels, 2021
    • Interest in online video ads strongest among Millennials
      • Figure 39: Preferred advertising channels, by generation, 2021
    • Two thirds of Black Millennials okay with ad-supported streaming content
      • Figure 40: Attitudes toward advertisements, by generation, 2021
  14. Building Brand Loyalty

    • Value motivates brand loyalty
      • Figure 41: Mintel Global Trend Driver, Value
      • Figure 42: Drivers of brand loyalty, 2021
    • Affordability
      • Figure 43: Drivers of brand loyalty, by self-described financial situation, 2021
    • Trust and dependability
    • Spotlight on: Clorox
      • Figure 44: Making Game Time Safer | NBA + WNBA + Clorox, 2021
    • Black Millennial shoppers are driven by habit
      • Figure 45: Percentage of Black adults who tend to make shopping decisions out of habit, by generation, 2021
      • Figure 46: Percentage of Black adults who tend to make shopping decisions out of habit, by generation, 2021
  15. Appendix – Data Sources and Abbreviations

    • Data sources
    • Consumer survey data
    • Abbreviations and terms
    • Abbreviations
    • Terms
  16. Appendix – The Market

      • Figure 47: US population by generation and race/Hispanic origin, 2021
      • Figure 48: Unemployment rate of the Black/African American civilian noninstitutional population by gender, seasonally adjusted, 2020-21
      • Figure 49: Mean annual earnings of workers aged 18 years and over, 1975-2019
  17. Appendix – The Consumer

      • Figure 50: Attitudes toward corporate responsibility, 2021
    • TURF methodology
      • Figure 51: Table – TURF analysis – Corporate responsibility, May 2021

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

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Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

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Data

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