2006 Buying Power in North Carolina

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N.C. Minority Buying Power Rises
Guest: Andrea L. Harris, President, North Carolina Institute of Minority Economic Development

Black Issues Forum interview with Andrea Harris on the Buying Power In North Carolina Report High Speed (Real Player Required) Low Speed (Real Player Required) (Click here to download Real Player)

The buying power of North Carolina’s minority consumers soared from 1990-2006.

• North Carolina emerged as one of the nation’s most important African-American markets during that period, with African-American purchases accounting for one of every seven dollars spent in the state.
  
  
• North Carolina’s Hispanic market has reached critical mass and is an extremely fast-growing market. Hispanic buying power jumped 1,042 percent to $9.6 billion from 1990-2006.
  
  
• North Carolina is home to the nation’s second-fastest growing Asian consumer market, behind only Nevada. Asian buying power rose 579 percent to $4.8 billion in 2006, up from $706 million in 1990.
  
  
• North Carolina boasts the nation’s sixth-largest American-Indian consumer market with buying power estimated at $2.1 billion in 2006, up 175 percent from 1990.

Overview

The North Carolina Institute of Minority Economic Development provides research and data analysis on emergent trends in North Carolina’s minority and low-wealth communities to help close the information and data gap and promote balanced public policies and private-sector practices.

The Institute’s 2006 Buying Power in North Carolina report tracks consumer spending, disposable income and population growth among African Americans, Hispanics, Asians and American Indians in the state.

It provides comprehensive data on the buying power of all North Carolina consumers with detailed information on minority buying power for each of the state’s 15 metropolitan statistical areas and 100 counties. The 2006 edition also provides market implications, insights and perspectives on each minority market.

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2006 Buying Power in North Carolina publication.

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