Marla D. Currie
BYE, BYE, BUY BLACK
Every once in a while, some economic reality checker will urge urban consumers to "Buy Black". The Buy Black movement came about in recognition of the huge amount of money that flows out of Black communities keeping those communities economically depressed while other communities prosper and attain wealth from Black spending. According to the Selig Center for Economic Growth, African American buying power will be $1.1 trillion by 2011.
There is a long history of systemic, dysfunctional behavior from the marketplace directed toward inner city communities. Urban consumers have been on the receiving end of some of the worst of consumerism whether it was redlining, overpricing, lack of access to quality goods, as well as the number and kind of available stores. Buy Black was an attempt to create social-economic change using economic solutions.
Buy Black concept while directionally correct too narrowly viewed the promise of consumerism and its impact on the financial wherewithal of both individuals and communities. Buy Black ignored all the things both big and small that urban shoppers purchase that are not retail such as doctors and lawyers, mortgages, insurance, and stocks.
Thankfully, the community retail landscape has changed for the better in many urban communities. Large retail like supermarkets have returned to the inner city communities they abandoned 30 years ago. The internet has brought new options and unfettered access. Cyber crimes, global warming, food and product safety are newer challenges for today's urban consumers.
The recognition of the importance of consumerism to both individual and group wealth-building goals reflects an important change in strategy in the age-old quest of the American Dream. In today's dynamic consumer market, buying smarter is a much more actionable and enduring movement for making the dream a reality.
The Penny Wiser | Urban Consumerism Magazine is a free web magazine targeted to Black and Latino female shoppers. Its mission is to elevate consumerism by publishing practical content relevant to the Urban Shopper experience.
|Targeted Media Online is publisher of The Penny Wiser| Urban Consumerism Magazine