A $300 billion opportunity: Serving the emerging Black American consumer

The McKinsey Quarterly examines the untapped market potential of Black consumers in this statistically heavy report by Michael Chui, Sajal Kohli, Brian Gregg and Shelley Stewart III. Black communities often lack basic services, such as banks, healthcare providers, stores carrying healthful food, internet access and decent housing. While Black customers are younger and less financially secure than the general population,retailers and service provides could reap more than $300 billion if they tailored their wares to these consumers and sold in “low-access” areas. Research finds that some Black buyers are willing to pay more than white consumers,even though they have less disposable income.