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BizReport : Research : March 10, 2009

Study: African-American consumers more optimistic

Marketers looking for optimistic consumers for that next ad campaign should research the African-American population. Why? Because a recent study from The Smiley Group and Nationwide Insurance found that more than half of African-Americans are optimistic about their financial situation than the general population.

by Kristina Knight

Researchers found that only 30% of the general population in the US felt that their economic situation would be better while 58% of African-American's felt their situation would be improved.

However, these same consumers admit they don't have a specific game plan with which to better their situation. This is where some online businesses could reap rewards. Companies in the business of investing, improving credit reports or helping with budgets could potentially make a big impact on these consumers with the right campaign.

"It's one thing to be positive, but it's another to be practical, proactive and prepared to weather this difficult economic climate," said Tavis Smiley. "This survey reveals the critical need for an honest assessment of our financial status so that we can be sure that we are taking the steps necessary to safeguard the future for ourselves, our families and the next generation."

Other interesting findings include:

• Three-quarters of African-American consumers report not having a written financial plan
• African-American's are most likely to get financial information from Internet (56%) or television (51%)
• 68% report a willingness to get better financial information

Tags: African-America demographic, African-American women, Nationwide, online research, Smiley Group

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  • Sherri James

    While hope is not a strategy, it is an indispensable fuel for those who want an improved life. Beware those who would squash optimism in favor of "practicality."

  • lw

    African-Americans are so unrealistically optimistic because of their collective "Christian Mentality".



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