They're known as the 'untapped market' for luxury brands, they're overlooked, under appreciated, but yet still they EXIST (although many thought it was impossible), and they're more charitable and more family oriented than the rest.. they are the AFFLUENT BLACKS!!
Monday, September 27, 2010
Give 'em a ROUND OF APPLAUSE!!
Just because I'm black doesn't mean I'm poor, hungry, ghetto, or uneducated. It doesn't mean I'm not cultured, or that I don't appreciate the better things in life. And the list goes on for days... ughh, I HATE stereotypes!
What it DOES mean is Affluent Blacks:
Are more likely to feel responsible for supporting elderly parents or other family members financially
But why not, we were raised that family comes first!! We are who we are because of our family so if we have the money flow, there's no doubt that our family should be taken care of! This is what they call 'first generation wealth'. That 'affluent black' might have been the first person to go to college, start a business or become affluent so there's a greater feeling of responsibility to become an example to the family AND the community, proving that it's POSSIBLE and that others can be successful too!
Are more likely to make charitable donations
It's true!! Fifty two percent of affluent blacks are more likely to make charitable donations to educational organizations than non blacks (39%). Blacks are more likely to support religious groups (48%) versus non blacks at (44%) and human services organizations too (47%) versus (39%)!!
These stats are courtesy of NORTHERN TRUST, they conducted a study entitled, "Wealth In Black America: 2010 Study of Financial Attitudes and Preferences of Affluent Blacks".
Yeeaaaahhh!! We're moving on up like the JEFFERSONS!