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Market Research and Analysis

Minority Population Growth

Over the next five years the total African/American Black population is said to be the fastest growing ethnic group with a projected increase of 11.6% between the years 2002-2007. According to the University of Georgia's Selig Center for Economic Growth, African Americans are predicted to spend about $965 billion in 2009. This spending power increased by 127% which equated to $405 billion within a 14 year span from 1990- 2003. The South United States accounts for the highest population (55%) of African Americans (see Table 6). According to African American Profile Magazine, African Americans are more likely to ?want to dress in the latest fashions in order to enhance appearance? than the average U.S. customer and also exhibit greater brand loyalty (African American Market Profile).

Percentage of African Americans 
African American Market Profile 2004
Table 6