Buying power for Blacks in Durham, NC continues to climb
on January 30th, 2007 at 5:00 am(dukechronicle.com) “The buying power of North Carolina’s minority groups has greatly increased since 1990, making the state’s business and investment market one of the most active in the country, according to a study published by the North Carolina Institute of Minority Economic Development.
And Durham is one of the key cities that reflects this trend, thanks to its large and diverse minority population, the study states. The report does not, however, address causes for growth in minority buying power.
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Durham’s Metropolitan Statistical Area market had the fifth-largest share of the state’s African-American buying power in 2006 at $2.5 billion.
African-American buying power in Durham is expected to rise $2.6 billion, which marks a 121 percent increase since 1990.”
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“Compared to non-African-American households, the average African-American household spends less on alcoholic beverages, more on home entertainment and less on buying or eating out,”
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