- The United States African Chamber of Commerce has released the first African Consumer Segment Study with a value of 50 Billion Dollar Purchasing Power.
A statement released by the chamber today said African immigrants are a separate and unique group that is growing in number in the US. "These consumers maintain connections to their friends and family in their native countries as well as maintain ties to native traditions, including food, music, and entertainment," the statement said.
According to the study, the African immigrant consumer market in the US is largely untapped, adding that within this market, there is a unique Islamic market segment which is also untapped.
It continues that marketers have an opportunity to deliver culturally appropriate products to this sub-segment such as in the food and beverage category.
The study highlights amongst others, that African immigrants prove to be sensible shoppers, shopping around for the right price and the right product. "Younger shoppers are more prone to shopping for products recommended by family and friends. Supermarkets lead the list of stores patronised by African immigrants. Discount stores and low-end department stores are the top shopping venues for clothes and accessories," it noted.
The study further lists viable sectors of this market giving examples such as auto and medical insurance, Email and international calls that are heavily used for keeping in touch and heavy visitations to internet social groups as well as other media and entertainment gadgets.
"There are over 1.4 million Africans living in the US and these consumers possess very high educational attainment and incomes. Additionally, this is a segment with a powerful sense of identity and pride in being African”, said David Morse, President and CEO of New American Dimensions, a firm which provides customised multicultural consumer research.
“USACC is the leading advocate organization for African businesses and entrepreneurs. This is a growing consumer segment within the multicultural market - one that cannot be overlooked”, said Martin Mohammed, President of the US African Chamber of Commerce.
This study was commissioned by Martin Mohammed of the African Chamber of Commerce and led by David Morse and his team at New American Dimensions of Los Angeles and Dr Bruce Corrie, Dean of the College of Business and Organizational Leadership at Concordia University, Saint Paul, Minnesota.
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