Highlights from 2006 Buying Power in North Carolina

African-American Buying Power in North Carolina
American-Indian Buying Power in North Carolina
Asian Buying Power in North Carolina
Hispanic Buying Power in North Carolina

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African-American Buying Power in North Carolina

• North Carolina’s African-American consumers are a substantial economic force throughout the state and, for many businesses, capturing African-American spending can mean the difference between success and failure.

• North Carolina ranks eighth in size, ninth in market share, and 33rd in growth rate among African-American markets in the United States.

• African-American buying power will expected to climb from $13.8 billion in 1990 to $35.9 billion in 2006 and is further projected to rise to $47 billion by 2011.

• In 2006, purchase by African Americans accounted for one out of every seven dollars spent in North Carolina.

• African-American consumers account for 14.5 percent of North Carolina’s total buying power, or nearly 15 cents out of every dollar that residents of the state have to spend. Nationally, African-American consumers account for 8.4 percent, or a little more than 8 cents of every dollar consumers have to spend

• At $7.1 billion, the Charlotte-Gastonia-Concord Metropolitan Statistical Area (MSA) holds the largest share of N.C.’s African-American buying power in 2006, followed by:

• Raleigh-Cary MSA: $4.1 billion
• Greensboro-High Point MSA: $3.3 billion
• Fayetteville MSA: $2.8 billion
• Durham MSA: $2.5 billion

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American-Indian Buying Power in North Carolina

• In 2006, American-Indian buying power is expected to equal $2.1 billion, up from $771 million in 1990. 

• North Carolina’s American-Indian consumer market currently is the nation’s sixth largest, up three places from ninth in 1990.

• The percentage change from 1990 to 2006 in the state’s American-Indian buying power will be 175 percent, approximately the same as the 173-percent increase estimated for the nation as a whole.

• North Carolina places 36th in the rankings for rate of growth among American-Indian consumer markets.

• At $191 million, the Fayetteville MSA is the largest American-Indian MSA-level consumer market in the state for 2006, followed by:

• Charlotte-Gastonia-Concord MSA: $133 million
• Raleigh-Cary MSA: $106 million
• Greensboro-High Point MSA: $68 million
• Jacksonville MSA: $39 million

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Asian Buying Power in North Carolina

• North Carolina is home to the nation’s second-fastest growing Asian consumer market, behind only Nevada.

• In 2006, the state’s Asian market is projected to rank 18th in size, advancing three places from 21st in 1990.

• The estimates show that North Carolina’s Asian buying power will rise to $4.8 billion in 2006, up from $706 million in 1990.

• North Carolina ranks 27th among the states for total share of Asian buying power

• At $1.3 billion, the Raleigh-Cary MSA is the largest Asian consumer market in the state for 2006, followed by:
  
  
  • Charlotte-Gastonia-Concord MSA: $1.25 billion
  • Durham MSA: $562 million
  • Greensboro-High Point MSA: $378 million
• Fayetteville MSA: $223 million

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Hispanic Buying Power in North Carolina

• North Carolina’s Hispanic buying power of $9.6 billion will exceed its 1990 value of $839 million by an astounding 1,042 percent, a percentage gain that is nearly four times larger than the 277-percent increase in U.S. Hispanic buying power.

• In 2006, North Carolina ranks 27th in terms of the percentage of total Hispanic buying power.

• At $2.3 billion, the Charlotte-Gastonia-Concord MSA is the largest Hispanic consumer market in the state for 2006, followed by:
  
  
• Raleigh-Cary MSA: $1.3 billion
• Durham MSA: $922 million
• Greensboro-High Point MSA: $660 million
• Winston Salem MSA: $612 million

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< Return to the 2006 Buying Power in North Carolina page to request the publication