by Tiara Williams
Did you know that every time you make a purchase, it is being tracked by big companies? It is a trend for big corporations to purchase data research that is conducted by independent organizations on your spending habits. This makes it easier to market their products to you.
For example, when our community runs out and purchases Michael Jordan shoes at consistent rates, that company no longer needs to spend their money marketing to our community. They will use that money to focus on getting new customers. A large percentage of the corporate budget is to collect this data, this information is very useful to the sales and advertising managers.
We have a population of about 40 million people and buying power approaching $1.1 trillion in 2015. African American buying power is at the epicenter of our economy. Our consumerism keeps American corporations rich and our community poor.
According to Nielsen, The State of the African-American Consumer: “African Americans shop more frequently than all other groups, but spend less money per trip and overall. These cultural and behavioral dynamics reflects their tendency to make quicker/smaller purchases based on short-term needs rather than the desire to stock up.” The data also suggests that African-American women tend to be the primary decision makers for most household buying decisions.”
In response to that information, women are always the primary target. If the company can appeal to the emotional side of the woman and make her feel inadequate because she doesn’t have the latest facial cream, face cream, heels, makeup, toys for her children etc, they can convince her that the answer to all of her emotional problems lies in her wallet. Then, she’s bankrupt and corporations are rich.
In the video, this financial expert explains the importance of knowing how corporations are appealing to our community, and how they are purposely targeting our community. Our wealth is leaving our communities from emotional, irrational decision. We have understand that everything is connected to a system that is run by its financial bottom line. The larger corporations are not interested in helping the community, just extracting money.