TMN/NiaOnline Consumer Survey shows blacks more optimistic than whites

(March 27, 2006) Optimism about making major purchases is growing for blacks while declining for whites, according to the February TMN/NiaOnline Consumer Confidence Survey. In fact, the gap between the responses of blacks and whites more than doubled. When asked if they plan to buy a big-ticket item such as a car, major appliance, or high-end electronics within the next 90 days, 34 percent of blacks said yes, up from 31 percent from the January 2006 survey. Only 17 percent of whites said they anticipate such purchases, down from 18 percent in January.

”Since African-Americans are the first to feel the impact when the economy tightens, they may see signs of a turn around that whites aren’t witnessing yet,” said Ken Smikle, president of Target Market News. “The gap between black and white optimism on major purchases is significant for marketers and retailers to take note of.”

Seventy-two percent of U.S. blacks feel secure about their current employment status for the next 90 days, compared with 74 percent of U.S. whites, according to the February Black Consumer Confidence Survey.

African-Americans’ optimism on their jobs status was up two percentage points from the January 2006 survey, in which 70 percent said they feel secure about their current employment status for the next 90 days. Twenty-eight percent of blacks and 26 percent whites in the February survey said they are not sure they will be in their current job 90 days from now.

"Black confidence in the employment outlook is rebounding, after having fallen throughout the holiday season and into January," observed Cheryl Mayberry McKissack, president and CEO of Nia Enterprises in Chicago.

 The latest Target Market News/NiaOnline Black Consumer Confidence Survey was conducted in February 2006 by Chicago-based Nia Enterprises, LLC through its NiaOnline Quick Response survey service (www.niaonline.com). All respondents to the survey were members of NiaOnline.com's Consumer Advisory Panel, which reaches over 125,000 black household members. The results are based on responses from 423 black respondents and 326 white respondents.

How do you feel about your job status for the
next 90 days?

BLACKS     July    Aug    Sept    Oct    Nov    Dec   Jan    Feb
Will be in    72%    71%  73%    70%   74%   73%  70%   2%
current job          

May not be 28%    29%  27%   30%    26%   27%  30%   28%
in current
job     

WHITES      July   Aug    Sept   Oct    Nov    Dec  Jan    Feb
Will be in    73%   73%   73%   72%   74%  73% 71%   74%
current job          

May not be  27%  27%   27%   28%   26%   27% 29%    26%
in current
job     

--------------------------------
Do you think you'll buy a big-ticket item in the next 90 days?

BLACKS    July    Aug   Sept   Oct    Nov    Dec    Jan    Feb
Yes             26%   30%  25%   31%   33%  32%   31%   34%
No               53%   52%  58%   51%   49%  50%   52%   47%
Not sure     21%  18%   17%  18%   18%  17%   17%   19%

WHITES
Yes              16%   14%   13%   16%  16%  14%   18%   17%
No                59%   63%   63%   62%  60%  61%   59%   54%
Not sure     25%   23%   24%   22%  24%  25%   23%   29%


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Latest 'Buying Power' report shows black consumers spending more on home life

As the American economy continues to move sluggishly, African-American households are curtailing their spending in many categories, including food, clothing and basic household items, while investing more in home repair, home entertainment and consumer electronics. Although they are trimming back, black consumers are still spending more than their white counterparts on most of these products.
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