Marketers and brands have a tremendous market share growth opportunity in the automobile and jewelry categories, where black women are spending more, and are more likely to make future purchases—strong indicators of potential consumer expansion for brands in these areas of the marketplace.
LUXURIOUS JEWELRY
For black women, the desire to look good, be trendy and make a fashion statement is important. According to our African-American Women: Our Science, Her Magic report, 52% of black women say they would pay extra for a product that is consistent with the image they want to convey, which is 31% more than non-Hispanic white women. Black women of all ages are more likely to shop for and purchase both fine and costume jewelry. In fact, black women are 16% more likely than non-Hispanic white women to have purchased costume jewelry in the past 12 months, and 9% more likely to have purchased fine jewelry than non-Hispanic white women. Additionally, while black women are 8% more likely to purchase fine jewelry priced between $100 and $499, they’re also 33% more likely to make smaller purchases of fine jewelry under $100. Finally, black women, across generations, are more likely to shop for and purchase both fine and costume jewelry.
There is a clear opportunity for manufacturers of fine and costume jewelry to enhance their market share if they are able to design products and develop messaging that appeals to black women. Fortunately, there are a number of purchasing influencers that can help these brands craft messaging and design products. For instance, 42% of black women are influenced by what’s hot and what’s not, and 47% agree their fashion style is trendy. To stay current on the latest styles and trends, black women look to leaders in entertainment, so a celebrity endorsement can be an effective strategy to reach African-American women. Thirty-three percent of black women say a celebrity endorsement may influence them to consider or purchase a product, and 27% agree that when a celebrity designs a product, they’re more likely to purchase it.
42% of black women are influenced by what’s hot and what’s not
IN THE FAST LANE
Black women are slightly more likely than non-Hispanic white women to own luxury vehicles of any size (14%) and full-size cars (8%), and they’re less likely to own compact and midsize cars, trucks, SUVs and vans. However, we’ve found that black women are more likely to say they plan to lease or buy vehicles from every category, excluding trucks, than non-Hispanic white women. In particular, black women are 214% more likely to say they plan to buy or lease a full-size car and 113% more likely to say the same for a luxury car of any kind in the next 12 months. Therefore, there is an opportunity for automobile manufacturers to meet these desires with cars that appeal to black women.
Just as with jewelry, appearance and perception are important factors that black women consider when it comes to their vehicle purchases. Fifty-six percent of black women agree that exterior styling is their first consideration when choosing a vehicle, and 38% seek out vehicles with a bold design that stands apart from others on the road. However, black women don’t exclusively prioritize style over substance in vehicle purchasing. Fifty-four percent of black women agree that having a vehicle that is fun to drive is a top consideration for them in their purchasing decision, and 53% look for vehicles that offer spirited performance and powerful acceleration.
Black women also value environmentally safe vehicles. Twenty-two percent of black women agree they buy vehicles that reflect their commitment to supporting the environment, and 55% agree that a company’s environmental record is important to them in their purchasing decisions.
For more insights, download Nielsen’s African-American Women: Our Science, Her Magic report.
