#BlackGirlMagic is now quantifiable.
African American women and the Black Girl Magic movement are being studied by ratings agency Nielsen, and the results of their impact on the American economy is — unsurprisingly — huge.
According to the African-American Women: Our Science, Her Magic report, Black women are the biggest influencers when it comes to total African American buying power, which is expected to break a record $1.5 trillion by 2021.
Aside from money, the study also proclaims Black women as trendsetters in the beauty, television, music and fashion industries. They influence women via their spending habits but also through how they see themselves.
“Black women have strong life-affirming values that spill over into everything they do. The celebration of their power and beauty is reflected in what they buy, watch and listen to, and people outside their communities find it inspiring,” Cheryl Grace, Nielsen senior vice president of U.S. Strategic Community Alliances and Consumer Engagement, said in a press release. “Understanding how black women’s values affect their buying decisions has long been a marketing necessity. Now, marketers must also recognize the intercultural influence of black women on the general market as an increasingly vital part of how all women see themselves, their families and the rest of the world.”
Also good news, Black women have experienced steady growth in income, population and educational attainment, according to the study. Between 2007 and 2012, Black female entrepreneurs have grown by 67 percent. In education, 64 percent of Black women graduating from high school go straight to college, while 23 percent over the age of 25 have a bachelor’s degree or higher.
BlackEnterprise.com also listed a bunch of other interesting tidbits that came from the African-American Women: Our Science, Her Magic report. See the side notes below. #BlackGirlMagic.
(Photo: patronestaff/Getty Images)
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