African americans continue to outpace spending nationally.” said cheryl grace. Nielsen’s senior vice president of community alliances and consumer engagement and co-creator of the dis report in 2019. We dominate as consumers in the beauty and personal care categories—a multi-billion dollar industry—and make up 90 percent of the consumers in the ethnic hair care category. We’re also 20 percent more likely than the total population to say they will “pay extra for a product that is consistent with the image I want to convey.” according to nielsen’s report.
Why black people trail their peers financially
Why black people trail their peers financially The average white family has eight times the wealth of the average black africa email list family and five times the wealth of the typical latino family. According to the feral reserve. Let’s take a look at a couple of the reasons why black people are behind when it comes to financial development and building wealth. Lack of access to resources and financial ucation
Some examples include having fewer
Black people are more likely to face systemic financial challenges that limit their wealth-building ability. Some examples include having fewer financial resources. Less access to employer-sponsor benefits and greater Bold Data income volatility a tiaa study found. These challenges already limit financial advancement and are made worse by low financial literacy. Financial literacy isn’t high amongst american adults in general. But in a study. Black people answer 38 percent of financial literacy questions correctly. And only 28 percent answer more than half correctly.