DID 'BLACK BUYING POWER' SAVE NIKE?
Its no secret that a majority of african americans support the cause of colin kapernick and the move by Nike. Since the "controversial" ad appeared the company's srock dipped 0.12% due ro shaky inverters. But over all sales online sky rocketed to 31% in under a week. Why? Whos still buying nike? The numbers say millennials are the reason for the huge spike in sales - With 43% of the 75 million Millennials in the U.S. identifying as African American, Hispanic or Asian, - Diversity Advocate
With that, lets focus on the demographic that has the most to gain & lose, and spends the most...blacks.
A New Nielsen Report Puts Black Buying Power at $1.2 Trillion (February 28, 2018 fortune.com)
In the report Black Dollars Matter: The Sales Impact of Black Consumers, the message is clear: While African Americans make up just 14% of the population, we are responsible for some $1.2 trillion in purchases annually. Further, consumers of color are showing an outsized influence in several key consumer categories.
In some cases, black consumers make up over 50% of overall spending (Black Dollars Matter)
Nielsen’s research shows that 38% of African Americans between the ages of 18 and 34 and 41% of those aged 35 or older expect the brands they buy to support social causes, outpacing the total population by 4% and 15%, respectively. The data also shows that once black-themed products are leaving the “ethnic” aisle and finding a wider audience. (Nielsen Ratings)
"Nike’s decision to create explicitly politically charged ads featuring Kaepernick for the 30th anniversary of the brand’s iconic slogan, “Just Do It,” caused shock waves — and conveniently for Nike, those shock waves were among the very authority figures its customers like to reject. There were immediate threats of boycotts, including from President Trump."
- Jane Coaston Vox.com
Young people living in big cities in the United States like Los Angeles and New York — cities that are generally more racially and ethnically diverse than the areas surrounding them — are also supportive of Kaepernick’s protest efforts and generally opposed to Trump, tending to be more left-leaning in general. That means that for companies like Nike, appealing to them — and not to their parents or to their Republican-voting older neighbor — makes sense. - Josh Barro, Business Insider
Like the vote 'Buying Power' gives a demogrphic influential power and sends a clear message to a candidate aswell a company. It make the demographic feel needed an therefore important.
The question still remains is can blacks harness and use this power to change their standing with-in the U.S. for the better. Take this same money and invest in there own communities? This takes planning, time, leaders.
Or will they continue to be a fractured people who all vote for the same party and buy the same stuff. But cant put together a plan to recycle those 'Black Dollars' to their own causes.
Who will step up to the plate? And not just the register?
written, copied and pasted by Jonathan Riley
Theiconiumfoundation.blogspot.com
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