Economic Impact

What was the buying power of African Americans in 2020?

• $1 trillion
• $3 trillion
• $458 billion
• $1.8 trillion

What factors contributed to the increase in buying power among African Americans?

• Population growth and rising educational attainment
• Decreased spending on luxury items
• Increased reliance on cash transactions
• Decline in entrepreneurship

By how much is African American buying power projected to grow by 2024?

• $1 trillion
• $1.8 trillion
• $3 trillion
• $2 trillion

What demographic change is expected to occur between 2020 and 2060 regarding the Black population?

• It will decrease by 22%
• It will remain the same
• It will increase by 22%
• It will increase by 10%

What was the increase in the racial wealth gap between 2019 and 2022?

• $30,000
• $49,950
• $100,000
• $20,000

What has been a significant result of the COVID-19 pandemic for African Americans?

• Increased wealth accumulation
• Highlighting the racial wealth gap
• Decreased consumer spending
• Improved access to education

How are Black consumers becoming more socially conscious?

• By avoiding online shopping
• By supporting brands that reflect their values
• By reducing their spending
• By ignoring social issues

What impact has increased digital engagement had on Black consumers?

• Less influence on brands
• Greater ability to advocate for social justice
• Decreased online shopping
• Less use of social media

Which of the following industries are African Americans influencing?

• Food and beauty
• Automotive and technology
• Real estate and finance
• Healthcare and education

What is one way African Americans are using technology in their consumer behavior?

• Avoiding smartphones
• Shopping online
• Listening to radio
• Using cash only