The state of Black consumers

Black consumers’ collective economic power is set to expand dramatically, from about $910 billion in consumption in 2019 to $1.7 trillion (in nominal dollars) in 2030. Even so, they are more likely than their non-Black counterparts to live in consumer deserts and be underserved across all areas of consumption. “Catering to Black consumers can help brands better serve all customers, particularly as the demographics of the country become more diverse,” says McKinsey’s Shelley Stewart III. “Developing a perspective on how to serve diverse customers is something that all companies need to be thinking about.” As Black History Month comes to a close, dive into this collection of research on both the social and commercial benefits of integrating broad racial-equity goals into consumer businesses. And in case you missed them, check out our collections on Black residents and Black workers.

Marketing to the multifaceted Black consumer

Black consumers: Where to invest for equity (a preview)

A guide to impact investing in Black economic mobility

Nourishing equity: Meeting Black consumers’ needs in food

Rules of the road: Equitably serving Black automotive consumers

Investing in—and with—Black consumers in financial services

Unlocking the full potential in fashion for Black consumers

What Black and Latino consumers want healthcare stakeholders to know

Serving the Black consumer is a $300 billion opportunity