Table of Contents
Overview
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- What you need to know
- Definition
Executive Summary
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- The issues
- Black Millennials’ consumerism is linked to their level of social media engagement
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- Figure 1: Black Millennials’ attitudinal segments, February 2018
- Satisfied Black Millennials have reached their desired milestones
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- Figure 2: Life Progress of Black Millennials, February 2018
- Black Millennials love kids, but some question if they will be a part of their lives
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- Figure 3: Attitudes toward parenthood, February 2018
- The opportunities
- Speak to Black Millennials’ unique qualities to deepen a connection
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- Figure 4: What makes Black Millennials unique?, total and Black, February 2018
- Black Millennials more likely to show concern over their financial investments
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- Figure 5: Financial challenges of Black Millennials, February 2018
- Social media is a required platform to engage with Black Millennials
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- Figure 6: Motivations behind shopping, February 2018
- What it means
The Market – What You Need to Know
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- Black 25-39-year-olds live the single life
- College enrollment is high, but completion is elusive
Black Millennials by the Numbers
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- There are 11 million Black Millennials in the US
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- Figure 7: Black population share, by generation, 2018
- Millennials are the largest generational group within the Black population
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- Figure 8: Black generational split, 2018
Black Millennials and Family Life
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- Most Black adults aged 25-39 are single
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- Figure 9: Marital and partnership status, total and Black, adults aged 25-39, October 2016-November 2017
- Nearly six in ten Black 25-39-year-olds have children
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- Figure 10: Parental status of children under 18, total and Black, adults aged 25-39, October 201-November 2017
Black Millennials and Education
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- Black adults 25-39 likely to go to college, but not graduate
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- Figure 11: Educational attainment by race and Hispanic origin among adults aged 25-39, 2017
- Black adults aged 25-39 earn less than the average across educational attainment
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- Figure 12: Average personal income among adults aged 25-39 by race and Hispanic origin, 2017
- Student loan debt reaches $1.5 trillion
- Black student loan borrowers are twice as likely to default on their student loan debt
Black Millennials and Home Life
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- Black homeownership falls to 1968 levels, leaving young Black Millennials without a wealth-building tool
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- Figure 13: Homeownership rate, by race of householder, 2006-16
- Black Millennials lead re-migration back to the South
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- Figure 14: Migration flow to census region by Black and total US population, 2016-17
- Figure 15: Mobility to a different census region, by age group, 2016-17
Key Trends – What You Need to Know
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- Aspirational brand messaging reflects Black Millennials’ life progress
- Black Millennials snub brands over perceived insensitivity
- Brands that leverage underground hip-hop culture gain credibility
What’s Working?
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- Aspirational messaging based on cultural insights
- Ford Fusion: Make a Statement
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- Figure 16: 2017 Ford Fusion: Make a Statement television commercial
- Courvoisier: Honor Your Code
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- Figure 17: Courvoisier print and digital advertising featuring ASAP Rocky, 2017-18
What’s Struggling?
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- Company missteps can lead to consumer disengagement
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- Figure 18: The Weeknd’s H&M dissolved partnership tweet, January 2018
What’s Next?
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- Authentic voices drive connection with Millennials
- General Mills – Hamburger Helper “Watch the Stove” mixtape
- Wendy’s Restaurant’s “We Beefin?” mixtape
The Consumer – What You Need to Know
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- Black Millennials’ perceptions on their progress depend on their accomplishments
- Black Millennials’ finances are stuck between past and future life investments
- Reliance on faith and personal convictions shape Black Millennials’ identity
- Black Millennials expect to be the change they want to see
- Kids are a blessing – But only Black Millennial women are ready to have them
- Black Millennials love shopping and are willing to splurge for what they want
Black Millennials’ Attitudes toward Consumerism
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- Figure 19: Black Millennials’ attitudinal segments, February 2018
- The Socialites
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- Figure 20: Black Millennials’ – The Socialites segment profile, February 2018
- The Trend Shapers
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- Figure 21: Black Millennials’ – The Trend Shapers segment profile, February 2018
- The Pragmatists
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- Figure 22: Black Millennials’ – The Pragmatists segment profile, February 2018
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Life Progress of Black Millennials
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- Black Millennials feel better about their life experiences rather than their financial state
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- Figure 23: Life progress of Black Millennials, February 2018
- Black Millennials believe they are doing better than the average Millennial
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- Figure 24: Life progress among Black Millennials indexed to total Millennials, February 2018
- Black Millennials living the American dream are doing better than expected
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- Figure 25: Life progress of Black Millennials, over indexed to all Black Millennials, February 2018
- Single Black Millennial men are pragmatic about their lives
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- Figure 26: Life progress of Black Millennials, over indexed to all Black Millennials, February 2018
- Single Black Millennial women more likely to be unfulfilled
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- Figure 27: Life progress of Black Millennials, over indexed to all Black Millennials, February 2018
Financial Challenges of Black Millennials
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- Black Millennials are equally concerned in saving and paying for their financial responsibilities
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- Figure 28: Financial challenges of Black Millennials indexed to total Black adults, February 2018
- Adult life changes and finances impact Black Millennials as they age
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- Figure 29: Financial challenges of Black Millennials indexed to Black iGeneration, February 2018
- Black Millennial women express concern over the home finances
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- Figure 30: Financial challenges of Black Millennials, by gender, February 2018
- Black Millennial college graduates balance their past financial obligations with their everyday expenses
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- Figure 31: Financial challenges of Black Millennials, by educational attainment, February 2018
- Black Millennial parents’ financial concerns change as their kids age
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- Figure 32: Financial challenges of Black Millennials, by kids’ ages, February 2018
What Makes Black Millennials Different?
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- Black Millennials’ identity is rooted in characteristics they believe will move them forward
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- Figure 33: Unique characteristics of Black Millennials indexed to all, February 2018
- Black Millennials draw on inner strength and love for family as they age
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- Figure 34: Unique characteristics of Black Millennials indexed to Black iGeneration, February 2018
- Black Millennials at a crossroad in their progress lean more on their beliefs
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- Figure 35: Unique characteristics of Black Millennials, by educational attainment, February 2018
- Kids compel Black Millennial parents to have a strong sense of self
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- Figure 36: Unique characteristics of Black Millennials, by parental status, February 2018
World View of Black Millennials
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- Black Millennials are making an impact in their lives despite life and societal challenges
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- Figure 37: Symone D. Sanders Twitter response, may 2018
- Figure 38: World view of Black Millennials, February 2018
- Black Millennials are willing to face challenging situations for control over their identity and surroundings
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- Figure 39: World view of Black Millennials indexed to all Millennials, February 2018
- Black Millennials’ independence away from the familiar and expected drives their world view
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- Figure 40: World view of Black Millennials indexed to all Black adults, February 2018
- Black Millennial women are moved to action, but mindful in their pursuit of change
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- Figure 41: World view of Black Millennials, by gender, February 2018
- Parents of young kids are idealistic – Parents of older kids use more caution
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- Figure 42: World view of Black Millennials, by kids’ ages, February 2018
Attitudes toward Parenthood
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- Black Millennials love kids, but some love kids from afar…for now
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- Figure 43: Attitudes toward parenthood, February 2018
- Black Millennials’ desire for kids may be dampened by access to fewer resources
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- Figure 44: Attitudes toward parenthood, Black Millennials indexed to all Millennials, Black adults and Black iGeneration, February 2018
- Black Millennial women ready and willing to have kids, men less so
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- Figure 45: Attitudes toward parenthood, by gender, February 2018
- Black Millennials love being parents, but don’t want to over extend themselves
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- Figure 46: Attitudes toward parenthood, by kids’ ages, February 2018
Motivations behind Shopping
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- Black Millennials shop for fun and to keep up with others
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- Figure 47: Motivations behind shopping, February 2018
- Black Millennials appreciate brand communications more so than the average Millennial who may expect micro-targeted messages
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- Figure 48: Motivations behind shopping, Black Millennials indexed to all Millennials, February 2018
- Brand communication to parents may impact their loyalty and perceptions
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- Figure 49: Motivations behind shopping, by kids’ ages, February 2018
- Single Black Millennial women’s identity may be tied to an unlived ideal
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- Figure 50: Motivations behind shopping, by gender and marital status, February 2018
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Abbreviations and terms
- Abbreviations
Appendix – The Consumer
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- Figure 51: Marital and partnership status, total and Black, October 2016-November 2017
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- Figure 52: Marital and partnership status, total and Black adults aged 25-39, October 2016-November 2017
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- Figure 53: Parental status of children under 18, total and Black, October 2016-November 2017
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- Figure 54: Parental status of children under 18, total and Black, adults aged 25-39, October 2016-November 2017
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