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Black Consumer Project Wave 1 - Identity + Values

This document provides a summary of key findings from a survey of Black consumers in the United States. Some of the main findings include: - There is no universally preferred label for Black identity, though "Black American" emerged as one of the top three preferred names. - Black Americans are more likely than non-Blacks to believe that their race/heritage defines who they are. - While family and faith are top values for all Americans, Black Americans more highly rank personal growth as a driving value. - Around 57% of Black Americans believe in the American Dream, though rates vary by age, geography, and nativity. - Black Americans define success more in terms of maintaining personal and financial health rather

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BLACK CONSUMER SURVEY B L A C K C O N S U M E R P R OJ E C T 1 WAVE 1 - IDENTITY + VALUES FALL 2021
Background The Black Consumer Project About the Creators Methodology Black America At-a-Glance Executive Summary An Evolving Identity The American Dream Emerging Black Affluents Smart Marketing Moves Appendix 2 TABLE OF CONTENTS_ WAVE 1 - IDENTITY + VALUES 3 4 5 6 7 8 14 24 31 36 2
– is an in-depth multi-wave study of the economic and cultural contributions of Black Americans. This community has more buying power than ever, and our goal is to uncover the unique perspectives, behaviors, and preferences of Black and African American consumers. PROJECT OVERVIEW_ 3 WAVE 1 - IDENTITY + VALUES Wave 1 The first wave explores core values, personal goals, layers of identity and definitions of success.
Quantasy + Associates is a full-service marketing agency that builds brands by pushing culture in the right direction. We operate at the intersection of Advertising + Content, Solutions + Strategies, Platforms + Technology, and Influence + Talent. For over a decade, our work has driven incremental revenue, equity, and influence for some of the world’s most iconic brands. ThinkNow is a technology-driven consumer market research company that focuses on uncovering Hispanic, Asian, and African American consumer insights as well as Total Market insights that require multicultural expertise. We’re focused on culturally diverse consumers because half the children born in the U.S. each year are multicultural and this trend will accelerate. 4 ABOUT US_ WAVE 1 - IDENTITY + VALUES 4
FIELD DATE SURVEY METHOD SCREENING CRITERIA BASE SIZES 08/02/2021 - 09/10/2021 Online Blacks n=1,033 Non-Blacks n=500 18+ years of age Self-identified as Black/ African American METHODOLOGY_ WAVE 1 - IDENTITY + VALUES 5
INCREASING INFLUENCE GEOGRAPHIC DISTRIBUTION The median age of Black Americans is 32— six years younger than the national median age. More than 1 out of every 3 Black Americans is under the age of 22. As they enter their peak earning years, they’ll play a key role in reshaping our economy, forcing companies to reexamine how they do business. 2020 U.S. Census; Pew Research Center, 2019 American Community Survey; Nielsen, The Power of the Black Community, 2020; Selig Center for Economic Growth, June 2021 HOUSEHOLD INCOME Gen Alpha Gen Z Millennial Gen X Baby Boomer Silent / Greatest 6M 9M 12M 3M 10% 25% 23% 19% 18% 5% 10% 56% 17% 17% GENERATIONAL DISTRIBUTION Although the majority are descendants of slavery, there is an increasing number of foreign-born and descendants of immigrants. The Black population has risen in the U.S., but there has been a more dramatic increase among the foreign born. As of 2019, they make up 10% of the Black population, which is a 90% increase since 2000. Most foreign-born are Caribbean and over 1M identify as Afro-Latino. MEDIAN AGE COUNTRY OF ORIGIN According to the 2020 Census, the Black population has increased by 5.6% over the past decade. Those who identify as Black in combination with another race group increased by 88.7%. With a population of 46.9 Million, Black Americans also wield an impressive $1.4T in buying power. The median HHI for Black Americans was $44,000 in 2019, meaning just under half of all households (46%) were earning more than $50,000 a year. Those earning more than $100,000 represent 18% of the overall Black population. Education has increased significantly as well with the population of those with a bachelor’s degree (23%), doubling since 2010. BLACK AMERICA AT-A-GLANCE SNAPSHOT_ WAVE 1 - IDENTITY + VALUES 6
Still, the story of Black Americans is about more than the long- lasting impact of inequality on family, financial security and the future. There’s a more powerful story to be told: a story rooted in a legacy of Black excellence and fueled by a new generation of innovators, entrepreneurs and thought-leaders. Despite centuries of challenges and setbacks, Black Americans continue to rise, thrive and evolve. From driving culture to blazing new trails of economic opportunity, their contributions to our nation continue to be immeasurable. This report features 4 key chapters: 1. An Evolving Identity 2. The American Dream 3. Emerging Black Affluents 4. Smart Marketing Moves While most Americans are battling one pandemic, Black Americans have spent the past year-and-a-half living through three compounding crises—COVID-19, an economic recession, and the backlash of a national awakening to systemic inequities and injustices. EXECUTIVE SUMMARY_ 7 WAVE 1 - IDENTITY + VALUES
8 NARRATIVE #1 AN EVOLVING IDENTITY WAVE 1 - IDENTITY + VALUES
In this section and beyond, we explore the intersections of race + ethnicity, perceptions and values. Blackness is not monolithic. The Black experience is personal and varies by age, income, regionality, and more. Being Black and African American is as diverse as the diaspora, but commonalities exist that shape and connect Black Americans as a community. THE ME IN WE W A V E 1 - I D E N T I T Y + V A L U E S 9 EXECUTIVE SUMMARY_
African American Black American Black American Person of Color (POC) Afro-Latino American-Born Descendant of Slaves (ADOS) Does not matter None of the above Other 1% 2% 2% 2% 3% 4% 7% 26% 27% 27% 10 80% Choices were consistent across regions of the country Foreign-Born: 19% U.S.-Born: 28% Q14. Earlier you indicated that you are Black/African American. In the next few questions, we are going to ask you to choose the name that you prefer most for each scenario. Which of these names do you prefer that others use to describe you, personally? $100K+ Income: 35% ALTHOUGH BLACK AMERICAN HAS EMERGED AS ONE OF THE TOP 3 PREFERRED NAMES, THERE IS STILL NO UNIVERSALLY PREFERRED LABEL FOR BLACK IDENTITY IN AMERICA. LGBTQ+: 20% Non-LGBTQ+: 28% WHAT DO WE WANT TO BE CALLED_ WAVE 1 - IDENTITY + VALUES
W A V E 1 - I D E N T I T Y + V A L U E S 11 ASIAN 10% HISPANIC 25% WHITE 14% BLACK 32% WAVE 1 - IDENTITY + VALUES IDENTITY | RACE + HERITAGE_ BLACK AMERICANS ARE MORE LIKELY TO BELIEVE THAT THEIR RACE + HERITAGE DEFINES WHO THEY ARE. Q1. Please select the point in the scale that describes how much you agree or disagree with each statement below. My race/heritage is what defines me. (Strongly Agree)
12 Open-minded Risk-taker Successful / High-achieving Assertive Driven / Self-directed Forgiving Confident Ambitious Optimist Anxious Trendsetter 7% 21% 37% 19% 38% 31% 20% 16% 16% 11% 43% 11% 14% 37% 28% 45% 40% 29% 18% 21% 19% 46% Blacks Non-Blacks 18-24: 33% 25-39: 36% 40-54: 46% 55+: 62% 18-24: 22% 25-39: 32% 40-54: 39% 55+: 48% LGBTQ+: 23% $100K+ Income: 20% Men: 14% Women: 7% Whites: 22% Hispanics: 9% Asians: 25% BLACK AMERICANS ARE SIGNIFICANTLY MORE LIKELY TO BELIEVE PEOPLE SEE THEM AS DRIVEN, CONFIDENT, AND HIGH-ACHIEVING. Q5. Which of these words do you think other people would use to describe you? WAVE 1 - IDENTITY + VALUES IDENTITY | HOW WE BELIEVE WE’RE SEEN_
13 Q7. The following list contains a series of cultural values that people may or may not believe to be important to them personally. Which of these do you consider the most/least important? Cultural Values: ranked 1st Family Religion/Faith Personal Growth Financial Success Self-Reliance Equality Education Hope Creativity Community 2% 5% 7% 6% 8% 12% 9% 9% 12% 30% 3% 6% 7% 8% 8% 8% 9% 15% 17% 21% Blacks Non-Blacks Importance of family increases for those aged 40-54 and incomes above $100K. 5.71 3.64 3.33 5.10 5.79 4.47 4.37 5.67 5.89 5.69 5.35 5.34 5.89 5.56 5.71 5.42 6.98 6.55 6.85 6.70 Same % chose Equality as 1st but Blacks scored it ½ a rank point higher than non-blacks overall. LGBTQ+: 22% Non-LGBTQ+: 14% Black numbers at base of columns are the average rank scored among 10 values, with lower numbers being ranked closer to #1. WAVE 1 - IDENTITY + VALUES IDENTITY | WHAT’S IMPORTANT TO US_ WHILE FAMILY AND FAITH ARE THE TOP 2 VALUES FOR ALL AMERICANS, BLACK AMERICANS ARE SIGNIFICANTLY MORE LIKELY TO RANK PERSONAL GROWTH A DRIVING VALUE IN THEIR PERSONAL LIVES.
NARRATIVE #2 THE AMERICAN DREAM 14 WAVE 1 - IDENTITY + VALUES
15 For many people in the U.S., the American Dream is intertwined in upward mobility. This is consistent for Black Americans too, but there are also some key differences. As an example, Black conservatives and Black liberals have drastically different perspectives on the right path forward. While there’s some overlap, the differences between the Black right and left can be found in their opinions, approaches, and definitions of community. WE HAVE A DREAM WAVE 1 - IDENTITY + VALUES THE AMERICAN DREAM | EXECUTIVE SUMMARY_
Q1. Please select the point in the scale that describes how much you agree or disagree with each statement below. I am proud to be an American. (Top 2 Boxes) AMERICAN PRIDE AND IDENTITY STRENGTHENS WITH AGE. Age 55+ 82% Age 40-54 80% Age 25-39 59% Age 18-24 56% 16 WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | PRIDE_ “I AM PROUD TO BE AN AMERICAN.”
17 U.S.-Born Foreign-Born 66% 56% West Midwest Northeast South 55% 63% 51% 69% Q1. Please select the point in the scale that describes how much you agree or disagree with each statement below. I believe in the American Dream. (Top 2 Boxes) ALTHOUGH 57% OF ALL BLACK AMERICAN CONSUMERS BELIEVE IN THE AMERICAN DREAM, THE DEGREE IN WHICH THEY BELIEVE VARIES BY KEY FACTORS INCLUDING GEOGRAPHY, U.S. NATIVITY, AND AGE. WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | BELIEF_ 18-24 25-39 40–54 55+ 60% 64% 57% 43%
18 WITH THE EXCEPTION OF FREEDOM, BLACK AMERICANS DEFINE THE AMERICAN DREAM IN TERMS CONSISTENT WITH NON-BLACK AMERICANS. Q1a. For me the American Dream means… (Open-Ended) Black Americans are significantly less likely to consider being able to afford nice things as part of the American Dream versus Non-Black. Black Non-Black Having goals/achievements 52% 51% Quality of life 27% 26% Freedom 18% 27% Financial stability 17% 20% Black Americans are significantly more likely to see having a fulfilling career that they enjoy as a marker of the American Dream vs. Non-Black. Black Americans making $100K+ find more importance in being an American citizen and living the American way. Black Americans who identify as LGBTQ+ are significantly more likely to believe having friends and family are a part of the American Dream. 1. 2. 3. 4. WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | DEFINITION_
Q6a. Now we would like to get an idea of how you personally define success. For each of the items below, please indicate if you don't think it's an indicator of success, if it's a partial indicator of success, or if it's a strong indicator of success. WITH THE EXCEPTION OF BEING ABLE TO TAKE CARE OF ONE’S FAMILY, SUCCESS LOOKS DIFFERENT TO BLACK AMERICANS. MAINTAINING PERSONAL AND FINANCIAL HEALTH IS THE DEFINITION OF SUCCESS. Being able to take care of my family Being able to retire financially comfortable Maintaining a healthy lifestyle Owning a home Giving back to my community Owning my own business 37% 42% 45% 47% 58% 69% 44% 47% 50% 58% 64% 69% Blacks Non-Blacks Men: 61% Women: 68% $100K+ Income: 73% 18-24: 44% 25-39: 51% Whites: 34% Hispanics: 51% Asians: 30% 19 WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | DEFINITION_ 40-54: 48% 55+: 35%
Q6b. Now we would like to know about your goals. For each item below, please indicate if it is a future goal. PERSONAL GOALS ARE CLOSELY TIED TO BOTH VALUES AND MEASURES OF SUCCESS. 20 Owning a Business Maintaining a Healthy Lifestyle Being Passionate About Career Contributing to my community Black: 39% Non-Black: 30% Black: 44% Non-Black: 35% Black: 48% Non-Black: 42% Black: 39% Non-Black: 24% 39% 44% 48% 39% WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | PERSONAL GOALS_
21 Q8: How satisfied are you with the direction that the U.S. is going? Black Men Women White Satisfied 48% 53% 43% 42% Not Satisfied 28% 28% 28% 41% IN GENERAL, BLACK AMERICANS ARE MORE SATISFIED WITH THE DIRECTION THAT THE COUNTRY IS HEADING IN COMPARED TO THEIR WHITE PEERS. BLACK MEN ARE SIGNIFICANTLY MORE LIKELY TO BE SATISFIED THAN BLACK WOMEN. 21 WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | USA SENTIMENT_
22 BLACK CONSERVATIVES ARE MORE LIKELY TO BELIEVE COLLEGE IS OVERRATED OR NOT CRITICAL TO SUCCESS. CONVERSELY, BLACK LIBERALS ARE MORE LIKELY TO BELIEVE COLLEGE IS IMPORTANT AND AIDS ACHIEVING SUCCESS. 18-24 25-39 40-54 55+^ Conservative Liberal Not Critical A college education is important but not absolutely necessary to be successful 50% 43% 39% 31% 43% 37% Critical It’s impossible to succeed in life without a college education 50% 58% 61% 70% 58% 64% Q13. With which of these statements do you agree with most in regard to having a college education? (Any Agree) Younger Black people (18-39) are more likely to believe college is not necessary VS. older Black people (40-55+) who think it is. 22 WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | DEFINITION_
D7. Which of the following best describes your political leanings? BLACK PEOPLE TEND TO LEAN MORE LIBERAL, BUT CONSERVATISM IS GROWING AMONG YOUNGER GENERATIONS. Black Non-Black 18-24 25-39 40-54 55+^ Conservative (Net) 45% 54% 46% 50% 48% 36% Very Conservative 14% 17% 9% 19% 19% 7% Somewhat Conservative 31% 38% 37% 32% 28% 30% Somewhat Liberal 35% 28% 32% 29% 33% 44% Very Liberal 21% 17% 22% 21% 20% 22% Liberal (Net) 55% 46% 54% 50% 53% 64% 23 WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | POLITICAL IDENTITY_ It’s important to note that identifying as conservative does not directly equate to political party affiliation.
NARRATIVE #3 EMERGING BLACK AFFLUENTS 24 WAVE 1 - IDENTITY + VALUES
25 25 Expensive cars, designer bags, fancy jewelry - it's often assumed that affluent Black Americans engage in conspicuous consumption. However, we’re learning quite the opposite: Black affluents make consumer choices that are more often rooted in family, connected to culture and focused on long-term financial growth. Please note that our salary data throughout this presentation points to household income, but individual income levels of $100,000 and above represent the top 9% of Black Americans and 18% of Black households. CONSUMERISM AND CULTURE WAVE 1 - IDENTITY + VALUES EMERGING BLACK AFFLUENTS | EXECUTIVE SUMMARY_
MOST EMERGING BLACK AFFLUENTS HAVE ALREADY ACCOMPLISHED THE PERSONAL GOALS THAT ALL BLACK AMERICANS ARE STRIVING TOWARDS. <$30K $30-59K $60-99K $100K+ <$30K $30-59K $60-99K $100K+ Maintaining a healthy lifestyle 28% 43% 50% 62% 55% 45% 41% 30% Making a positive contribution to my community 21% 30% 46% 58% 52% 45% 33% 25% Being passionate about what you do for a living 32% 44% 60% 60% 47% 36% 22% 25% Owning a home 22% 45% 58% 75% 56% 38% 25% 17% Giving back to community 24% 37% 47% 55% 49% 41% 28% 28% Being happy with oneself regardless of what you have or do 45% 54% 64% 72% 42% 32% 24% 20% Already accomplished Future goal Q6b. Now we would like to know about your goals. For each item below, please indicate if it is a future goal, not a goal for you, or if you have already accomplished this goal. 26 WAVE 1 - IDENTITY + VALUES EMERGING BLACK AFFLUENTS | PERSONAL GOALS_
Blacks Non-Blacks 53% 43% Blacks Non-Blacks 54% 61% Blacks Non-Blacks 39% 41% Satisfaction with Current Life Quality of Life vs. Community Optimistic About the Future <30K: 31% $30-59K: 45% $60-99K: 60% $100K+: 72% <30K: 32% $30-59K: 41% $60-99K: 52% $100K+: 66% <30K: 51% $30-59K: 66% $60-99K: 70% $100K+: 84% Q2. How satisfied are you with where you are currently in your life? Q3b. In terms of "quality of life," how do you see yourself compared to others in your community? Q4. How optimistic do you feel about your future? West: 71% Midwest: 59% Northeast: 62% South: 60% Whites: 51% Hispanics: 63% Asians: 43% Whites: 37% Hispanics: 51% Asians: 40% Whites: 51% Hispanics: 66% Asians: 53% BLACK EMERGING AFFLUENTS ARE SIGNIFICANTLY MORE SATISFIED WITH THEIR LIVES AND MORE OPTIMISTIC ABOUT THEIR FUTURES. Top 2 Box: I am much better / Somewhat better off Top 2 Box: Extremely Optimistic / Optimistic Top 2 Box: Extremely Satisfied / Satisfied 27 WAVE 1 - IDENTITY + VALUES EMERGING BLACK AFFLUENTS | SATISFACTION + OPTIMISM_
This is Q1. Please select the point in the scale that describes how much you agree or disagree with each statement below. “My parents and siblings play a big role in my important decisions” 28 This is especially true for Black Emerging Affluents. 52% 50% 68% 50% 52% 42% White Black Americans WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | PERSONAL GOALS_ White Black $60-99K+ $30-59K+ <$30K $100K+ BLACK AMERICANS ARE MORE LIKELY TO CONSULT THEIR FAMILIES FOR IMPORTANT LIFE DECISIONS THAN ARE WHITE AMERICANS.
29 THE MORE AFFLUENT, THE MORE CONNECTED TO THE FAMILY AND COMMUNITY. <$30K $30-$59K $60-$99K $100K + I go out of my way to pass down family traditions 56% 62% 62% 68% Having children is very important to me 62% 64% 68% 77% I give back to my community by volunteering and supporting causes that benefit the entire community 48% 55% 62% 75% Raising a family is more important to me than a career 54% 54% 63% 66% Marriage is very important to me 60% 62% 70% 79% Raising a family is more important than a career: this is even more true for foreign-born (66%).* Q1: Please select the point in the scale to which you agree or disagree with each statement. (Any Agree) WAVE 1 - IDENTITY + VALUES EMERGING BLACK AFFLUENTS | FAMILY_
<$30K $30-$59K $60-$99K $100K+ My race/heritage defines me 54% 58% 64% 68% My closest friends and I are of the same race/ ethnicity 48% 46% 51% 57% THE MORE AFFLUENT, THE MORE CONNECTED TO CULTURE AND HERITAGE. 30 Q1: Please select the point in the scale to which you agree or disagree with each statement. (Any Agree) WAVE 1 - IDENTITY + VALUES EMERGING BLACK AFFLUENTS | CULTURE_
SMART MARKETING MOVES WAVE 1 - IDENTITY + VALUES 31
Blacks Non-Blacks 18-24 25-39 40-54 55+ <$30K $30-59K $60-99K $100K+ 83% 81% 73% 58% 76% 64% 65% 60% 51% 67% WITH AGE AND INCREASED INCOME COMES AN EVEN STRONGER CALL FOR BRANDS TO SUPPORT DIVERSITY AND INCLUSION. Q15a. How important is it to you that companies/brands you support promote diversity and inclusion? Whites: 49% Hispanics: 56% Asians: 60% 32 WAVE 1 - IDENTITY + VALUES SMART MARKETING MOVES | DE&I_
33 18-24 25-39 40-54 55+ 46% 41% 52% 58% <$30K $30-$59K $60-$99K $100K+ 60% 53% 52% 44% Q15b. Have you ever boycotted a company or brand because you felt they did something unethically towards people of your race/ethnicity? Boycotting is even more common among key cohorts including Gen Z, Emerging Black Affluents, Men, and those identifying as LGBTQ+. WAVE 1 - IDENTITY + VALUES SMART MARKETING MOVES | DE&I_ 48% OF BLACK AMERICANS HAVE BOYCOTTED A COMPANY OR BRAND BECAUSE OF UNETHICAL ACTIONS TOWARDS THE BLACK COMMUNITY. Men Women LGBTQ+ Non LGBTQ+ Yes 52% 45% 64% 46%
HIT THE RIGHT NOTES MOVE BEYOND CSR Black Americans are optimistic about personal growth and achievement. Leverage this passion for progress and position your brand as a partner on that journey. ZERO IN Black Americans are incredibly diverse in identity, mindset and behavior. Understand which cohort is most critical for your business and zero in on your message. INFORM + INSPIRE 85% of Black Americans want to know as much as possible before making a decision. This desire increases with both age and income, making product marketing critical for driving sales. While philanthropic efforts are important, if you’re not also marketing services and products in relevant ways, you’re leaving money on the table. According to the August 2021 McKinsey Quarterly, Black consumers are willing to shift $260B to companies that can better deliver what they need. 34 WAVE 1 - IDENTITY + VALUES SMART MARKETING MOVES | TOP 4_
WILL CAMPBELL MELANIE WILLIAMS ROY EDUARDO KOKOYACHUK Co-Founder and CEO Quantasy + Associates 35 CARLOS YANEZ SVP, Head of Strategy Quantasy + Associates Co-Founder and Principal ThinkNow CSVP, Custom Research ThinkNow WAVE 1 - IDENTITY + VALUES OUR LEADERS_
APPENDIX 36 Black Consumer Project W A V E 1 - I D E N T I T Y + V A L U E S
DEMOGRAPHICS 37 Blacks (A) Non-Blacks (B) Gender Male 49% 47% Female 50% 52% Transgender 1% 1% Age 18-24 15%B 11% 25-39 31% 32% 40-54 24% 22% 55+ 30% 35% A Identify as LGBTQ+ 12% 14% Born in U.S 90% B 85% Race/Ethnicity Black, African American 100% -- Asian/Pacific Islander 0% 8% American Indian or Alaska Native 2% 1% White -- 88% Hispanic 6% 21% (n=1033) (n=500) Blacks (A) Non-Blacks (B) Region Northeast 17% 19% Midwest 17% 21% A South 57% B 35% West 10% 24% A Marital Status Single 46%B 21% Married or living with partner 38% 62%A Separated/divorced/widowed 15% 17% Annual Household Income Mean (in thousands) $41.7K $56.3K A Political Affiliation Conservative 45% 54%A Liberal 55%B 46% (n=1033) (n=500) WAVE 1 - IDENTITY + VALUES

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Black Consumer Project Wave 1 - Identity + Values

  • 1.
    BLACK CONSUMER SURVEY BL A C K C O N S U M E R P R OJ E C T 1 WAVE 1 - IDENTITY + VALUES FALL 2021
  • 2.
    Background The Black ConsumerProject About the Creators Methodology Black America At-a-Glance Executive Summary An Evolving Identity The American Dream Emerging Black Affluents Smart Marketing Moves Appendix 2 TABLE OF CONTENTS_ WAVE 1 - IDENTITY + VALUES 3 4 5 6 7 8 14 24 31 36 2
  • 3.
    – is anin-depth multi-wave study of the economic and cultural contributions of Black Americans. This community has more buying power than ever, and our goal is to uncover the unique perspectives, behaviors, and preferences of Black and African American consumers. PROJECT OVERVIEW_ 3 WAVE 1 - IDENTITY + VALUES Wave 1 The first wave explores core values, personal goals, layers of identity and definitions of success.
  • 4.
    Quantasy + Associatesis a full-service marketing agency that builds brands by pushing culture in the right direction. We operate at the intersection of Advertising + Content, Solutions + Strategies, Platforms + Technology, and Influence + Talent. For over a decade, our work has driven incremental revenue, equity, and influence for some of the world’s most iconic brands. ThinkNow is a technology-driven consumer market research company that focuses on uncovering Hispanic, Asian, and African American consumer insights as well as Total Market insights that require multicultural expertise. We’re focused on culturally diverse consumers because half the children born in the U.S. each year are multicultural and this trend will accelerate. 4 ABOUT US_ WAVE 1 - IDENTITY + VALUES 4
  • 5.
    FIELD DATE SURVEY METHOD SCREENINGCRITERIA BASE SIZES 08/02/2021 - 09/10/2021 Online Blacks n=1,033 Non-Blacks n=500 18+ years of age Self-identified as Black/ African American METHODOLOGY_ WAVE 1 - IDENTITY + VALUES 5
  • 6.
    INCREASING INFLUENCE GEOGRAPHIC DISTRIBUTION Themedian age of Black Americans is 32— six years younger than the national median age. More than 1 out of every 3 Black Americans is under the age of 22. As they enter their peak earning years, they’ll play a key role in reshaping our economy, forcing companies to reexamine how they do business. 2020 U.S. Census; Pew Research Center, 2019 American Community Survey; Nielsen, The Power of the Black Community, 2020; Selig Center for Economic Growth, June 2021 HOUSEHOLD INCOME Gen Alpha Gen Z Millennial Gen X Baby Boomer Silent / Greatest 6M 9M 12M 3M 10% 25% 23% 19% 18% 5% 10% 56% 17% 17% GENERATIONAL DISTRIBUTION Although the majority are descendants of slavery, there is an increasing number of foreign-born and descendants of immigrants. The Black population has risen in the U.S., but there has been a more dramatic increase among the foreign born. As of 2019, they make up 10% of the Black population, which is a 90% increase since 2000. Most foreign-born are Caribbean and over 1M identify as Afro-Latino. MEDIAN AGE COUNTRY OF ORIGIN According to the 2020 Census, the Black population has increased by 5.6% over the past decade. Those who identify as Black in combination with another race group increased by 88.7%. With a population of 46.9 Million, Black Americans also wield an impressive $1.4T in buying power. The median HHI for Black Americans was $44,000 in 2019, meaning just under half of all households (46%) were earning more than $50,000 a year. Those earning more than $100,000 represent 18% of the overall Black population. Education has increased significantly as well with the population of those with a bachelor’s degree (23%), doubling since 2010. BLACK AMERICA AT-A-GLANCE SNAPSHOT_ WAVE 1 - IDENTITY + VALUES 6
  • 7.
    Still, the storyof Black Americans is about more than the long- lasting impact of inequality on family, financial security and the future. There’s a more powerful story to be told: a story rooted in a legacy of Black excellence and fueled by a new generation of innovators, entrepreneurs and thought-leaders. Despite centuries of challenges and setbacks, Black Americans continue to rise, thrive and evolve. From driving culture to blazing new trails of economic opportunity, their contributions to our nation continue to be immeasurable. This report features 4 key chapters: 1. An Evolving Identity 2. The American Dream 3. Emerging Black Affluents 4. Smart Marketing Moves While most Americans are battling one pandemic, Black Americans have spent the past year-and-a-half living through three compounding crises—COVID-19, an economic recession, and the backlash of a national awakening to systemic inequities and injustices. EXECUTIVE SUMMARY_ 7 WAVE 1 - IDENTITY + VALUES
  • 8.
  • 9.
    In this sectionand beyond, we explore the intersections of race + ethnicity, perceptions and values. Blackness is not monolithic. The Black experience is personal and varies by age, income, regionality, and more. Being Black and African American is as diverse as the diaspora, but commonalities exist that shape and connect Black Americans as a community. THE ME IN WE W A V E 1 - I D E N T I T Y + V A L U E S 9 EXECUTIVE SUMMARY_
  • 10.
    African American Black American Black American Personof Color (POC) Afro-Latino American-Born Descendant of Slaves (ADOS) Does not matter None of the above Other 1% 2% 2% 2% 3% 4% 7% 26% 27% 27% 10 80% Choices were consistent across regions of the country Foreign-Born: 19% U.S.-Born: 28% Q14. Earlier you indicated that you are Black/African American. In the next few questions, we are going to ask you to choose the name that you prefer most for each scenario. Which of these names do you prefer that others use to describe you, personally? $100K+ Income: 35% ALTHOUGH BLACK AMERICAN HAS EMERGED AS ONE OF THE TOP 3 PREFERRED NAMES, THERE IS STILL NO UNIVERSALLY PREFERRED LABEL FOR BLACK IDENTITY IN AMERICA. LGBTQ+: 20% Non-LGBTQ+: 28% WHAT DO WE WANT TO BE CALLED_ WAVE 1 - IDENTITY + VALUES
  • 11.
    W A VE 1 - I D E N T I T Y + V A L U E S 11 ASIAN 10% HISPANIC 25% WHITE 14% BLACK 32% WAVE 1 - IDENTITY + VALUES IDENTITY | RACE + HERITAGE_ BLACK AMERICANS ARE MORE LIKELY TO BELIEVE THAT THEIR RACE + HERITAGE DEFINES WHO THEY ARE. Q1. Please select the point in the scale that describes how much you agree or disagree with each statement below. My race/heritage is what defines me. (Strongly Agree)
  • 12.
    12 Open-minded Risk-taker Successful/ High-achieving Assertive Driven / Self-directed Forgiving Confident Ambitious Optimist Anxious Trendsetter 7% 21% 37% 19% 38% 31% 20% 16% 16% 11% 43% 11% 14% 37% 28% 45% 40% 29% 18% 21% 19% 46% Blacks Non-Blacks 18-24: 33% 25-39: 36% 40-54: 46% 55+: 62% 18-24: 22% 25-39: 32% 40-54: 39% 55+: 48% LGBTQ+: 23% $100K+ Income: 20% Men: 14% Women: 7% Whites: 22% Hispanics: 9% Asians: 25% BLACK AMERICANS ARE SIGNIFICANTLY MORE LIKELY TO BELIEVE PEOPLE SEE THEM AS DRIVEN, CONFIDENT, AND HIGH-ACHIEVING. Q5. Which of these words do you think other people would use to describe you? WAVE 1 - IDENTITY + VALUES IDENTITY | HOW WE BELIEVE WE’RE SEEN_
  • 13.
    13 Q7. The followinglist contains a series of cultural values that people may or may not believe to be important to them personally. Which of these do you consider the most/least important? Cultural Values: ranked 1st Family Religion/Faith Personal Growth Financial Success Self-Reliance Equality Education Hope Creativity Community 2% 5% 7% 6% 8% 12% 9% 9% 12% 30% 3% 6% 7% 8% 8% 8% 9% 15% 17% 21% Blacks Non-Blacks Importance of family increases for those aged 40-54 and incomes above $100K. 5.71 3.64 3.33 5.10 5.79 4.47 4.37 5.67 5.89 5.69 5.35 5.34 5.89 5.56 5.71 5.42 6.98 6.55 6.85 6.70 Same % chose Equality as 1st but Blacks scored it ½ a rank point higher than non-blacks overall. LGBTQ+: 22% Non-LGBTQ+: 14% Black numbers at base of columns are the average rank scored among 10 values, with lower numbers being ranked closer to #1. WAVE 1 - IDENTITY + VALUES IDENTITY | WHAT’S IMPORTANT TO US_ WHILE FAMILY AND FAITH ARE THE TOP 2 VALUES FOR ALL AMERICANS, BLACK AMERICANS ARE SIGNIFICANTLY MORE LIKELY TO RANK PERSONAL GROWTH A DRIVING VALUE IN THEIR PERSONAL LIVES.
  • 14.
  • 15.
    15 For many peoplein the U.S., the American Dream is intertwined in upward mobility. This is consistent for Black Americans too, but there are also some key differences. As an example, Black conservatives and Black liberals have drastically different perspectives on the right path forward. While there’s some overlap, the differences between the Black right and left can be found in their opinions, approaches, and definitions of community. WE HAVE A DREAM WAVE 1 - IDENTITY + VALUES THE AMERICAN DREAM | EXECUTIVE SUMMARY_
  • 16.
    Q1. Please selectthe point in the scale that describes how much you agree or disagree with each statement below. I am proud to be an American. (Top 2 Boxes) AMERICAN PRIDE AND IDENTITY STRENGTHENS WITH AGE. Age 55+ 82% Age 40-54 80% Age 25-39 59% Age 18-24 56% 16 WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | PRIDE_ “I AM PROUD TO BE AN AMERICAN.”
  • 17.
    17 U.S.-Born Foreign-Born 66% 56% West Midwest Northeast South 55% 63% 51% 69% Q1.Please select the point in the scale that describes how much you agree or disagree with each statement below. I believe in the American Dream. (Top 2 Boxes) ALTHOUGH 57% OF ALL BLACK AMERICAN CONSUMERS BELIEVE IN THE AMERICAN DREAM, THE DEGREE IN WHICH THEY BELIEVE VARIES BY KEY FACTORS INCLUDING GEOGRAPHY, U.S. NATIVITY, AND AGE. WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | BELIEF_ 18-24 25-39 40–54 55+ 60% 64% 57% 43%
  • 18.
    18 WITH THE EXCEPTIONOF FREEDOM, BLACK AMERICANS DEFINE THE AMERICAN DREAM IN TERMS CONSISTENT WITH NON-BLACK AMERICANS. Q1a. For me the American Dream means… (Open-Ended) Black Americans are significantly less likely to consider being able to afford nice things as part of the American Dream versus Non-Black. Black Non-Black Having goals/achievements 52% 51% Quality of life 27% 26% Freedom 18% 27% Financial stability 17% 20% Black Americans are significantly more likely to see having a fulfilling career that they enjoy as a marker of the American Dream vs. Non-Black. Black Americans making $100K+ find more importance in being an American citizen and living the American way. Black Americans who identify as LGBTQ+ are significantly more likely to believe having friends and family are a part of the American Dream. 1. 2. 3. 4. WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | DEFINITION_
  • 19.
    Q6a. Now wewould like to get an idea of how you personally define success. For each of the items below, please indicate if you don't think it's an indicator of success, if it's a partial indicator of success, or if it's a strong indicator of success. WITH THE EXCEPTION OF BEING ABLE TO TAKE CARE OF ONE’S FAMILY, SUCCESS LOOKS DIFFERENT TO BLACK AMERICANS. MAINTAINING PERSONAL AND FINANCIAL HEALTH IS THE DEFINITION OF SUCCESS. Being able to take care of my family Being able to retire financially comfortable Maintaining a healthy lifestyle Owning a home Giving back to my community Owning my own business 37% 42% 45% 47% 58% 69% 44% 47% 50% 58% 64% 69% Blacks Non-Blacks Men: 61% Women: 68% $100K+ Income: 73% 18-24: 44% 25-39: 51% Whites: 34% Hispanics: 51% Asians: 30% 19 WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | DEFINITION_ 40-54: 48% 55+: 35%
  • 20.
    Q6b. Now wewould like to know about your goals. For each item below, please indicate if it is a future goal. PERSONAL GOALS ARE CLOSELY TIED TO BOTH VALUES AND MEASURES OF SUCCESS. 20 Owning a Business Maintaining a Healthy Lifestyle Being Passionate About Career Contributing to my community Black: 39% Non-Black: 30% Black: 44% Non-Black: 35% Black: 48% Non-Black: 42% Black: 39% Non-Black: 24% 39% 44% 48% 39% WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | PERSONAL GOALS_
  • 21.
    21 Q8: How satisfiedare you with the direction that the U.S. is going? Black Men Women White Satisfied 48% 53% 43% 42% Not Satisfied 28% 28% 28% 41% IN GENERAL, BLACK AMERICANS ARE MORE SATISFIED WITH THE DIRECTION THAT THE COUNTRY IS HEADING IN COMPARED TO THEIR WHITE PEERS. BLACK MEN ARE SIGNIFICANTLY MORE LIKELY TO BE SATISFIED THAN BLACK WOMEN. 21 WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | USA SENTIMENT_
  • 22.
    22 BLACK CONSERVATIVES AREMORE LIKELY TO BELIEVE COLLEGE IS OVERRATED OR NOT CRITICAL TO SUCCESS. CONVERSELY, BLACK LIBERALS ARE MORE LIKELY TO BELIEVE COLLEGE IS IMPORTANT AND AIDS ACHIEVING SUCCESS. 18-24 25-39 40-54 55+^ Conservative Liberal Not Critical A college education is important but not absolutely necessary to be successful 50% 43% 39% 31% 43% 37% Critical It’s impossible to succeed in life without a college education 50% 58% 61% 70% 58% 64% Q13. With which of these statements do you agree with most in regard to having a college education? (Any Agree) Younger Black people (18-39) are more likely to believe college is not necessary VS. older Black people (40-55+) who think it is. 22 WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | DEFINITION_
  • 23.
    D7. Which ofthe following best describes your political leanings? BLACK PEOPLE TEND TO LEAN MORE LIBERAL, BUT CONSERVATISM IS GROWING AMONG YOUNGER GENERATIONS. Black Non-Black 18-24 25-39 40-54 55+^ Conservative (Net) 45% 54% 46% 50% 48% 36% Very Conservative 14% 17% 9% 19% 19% 7% Somewhat Conservative 31% 38% 37% 32% 28% 30% Somewhat Liberal 35% 28% 32% 29% 33% 44% Very Liberal 21% 17% 22% 21% 20% 22% Liberal (Net) 55% 46% 54% 50% 53% 64% 23 WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | POLITICAL IDENTITY_ It’s important to note that identifying as conservative does not directly equate to political party affiliation.
  • 24.
  • 25.
    25 25 Expensive cars, designerbags, fancy jewelry - it's often assumed that affluent Black Americans engage in conspicuous consumption. However, we’re learning quite the opposite: Black affluents make consumer choices that are more often rooted in family, connected to culture and focused on long-term financial growth. Please note that our salary data throughout this presentation points to household income, but individual income levels of $100,000 and above represent the top 9% of Black Americans and 18% of Black households. CONSUMERISM AND CULTURE WAVE 1 - IDENTITY + VALUES EMERGING BLACK AFFLUENTS | EXECUTIVE SUMMARY_
  • 26.
    MOST EMERGING BLACKAFFLUENTS HAVE ALREADY ACCOMPLISHED THE PERSONAL GOALS THAT ALL BLACK AMERICANS ARE STRIVING TOWARDS. <$30K $30-59K $60-99K $100K+ <$30K $30-59K $60-99K $100K+ Maintaining a healthy lifestyle 28% 43% 50% 62% 55% 45% 41% 30% Making a positive contribution to my community 21% 30% 46% 58% 52% 45% 33% 25% Being passionate about what you do for a living 32% 44% 60% 60% 47% 36% 22% 25% Owning a home 22% 45% 58% 75% 56% 38% 25% 17% Giving back to community 24% 37% 47% 55% 49% 41% 28% 28% Being happy with oneself regardless of what you have or do 45% 54% 64% 72% 42% 32% 24% 20% Already accomplished Future goal Q6b. Now we would like to know about your goals. For each item below, please indicate if it is a future goal, not a goal for you, or if you have already accomplished this goal. 26 WAVE 1 - IDENTITY + VALUES EMERGING BLACK AFFLUENTS | PERSONAL GOALS_
  • 27.
    Blacks Non-Blacks 53% 43% Blacks Non-Blacks 54% 61% BlacksNon-Blacks 39% 41% Satisfaction with Current Life Quality of Life vs. Community Optimistic About the Future <30K: 31% $30-59K: 45% $60-99K: 60% $100K+: 72% <30K: 32% $30-59K: 41% $60-99K: 52% $100K+: 66% <30K: 51% $30-59K: 66% $60-99K: 70% $100K+: 84% Q2. How satisfied are you with where you are currently in your life? Q3b. In terms of "quality of life," how do you see yourself compared to others in your community? Q4. How optimistic do you feel about your future? West: 71% Midwest: 59% Northeast: 62% South: 60% Whites: 51% Hispanics: 63% Asians: 43% Whites: 37% Hispanics: 51% Asians: 40% Whites: 51% Hispanics: 66% Asians: 53% BLACK EMERGING AFFLUENTS ARE SIGNIFICANTLY MORE SATISFIED WITH THEIR LIVES AND MORE OPTIMISTIC ABOUT THEIR FUTURES. Top 2 Box: I am much better / Somewhat better off Top 2 Box: Extremely Optimistic / Optimistic Top 2 Box: Extremely Satisfied / Satisfied 27 WAVE 1 - IDENTITY + VALUES EMERGING BLACK AFFLUENTS | SATISFACTION + OPTIMISM_
  • 28.
    This is Q1.Please select the point in the scale that describes how much you agree or disagree with each statement below. “My parents and siblings play a big role in my important decisions” 28 This is especially true for Black Emerging Affluents. 52% 50% 68% 50% 52% 42% White Black Americans WAVE 1 - IDENTITY + VALUES AMERICAN DREAM | PERSONAL GOALS_ White Black $60-99K+ $30-59K+ <$30K $100K+ BLACK AMERICANS ARE MORE LIKELY TO CONSULT THEIR FAMILIES FOR IMPORTANT LIFE DECISIONS THAN ARE WHITE AMERICANS.
  • 29.
    29 THE MORE AFFLUENT,THE MORE CONNECTED TO THE FAMILY AND COMMUNITY. <$30K $30-$59K $60-$99K $100K + I go out of my way to pass down family traditions 56% 62% 62% 68% Having children is very important to me 62% 64% 68% 77% I give back to my community by volunteering and supporting causes that benefit the entire community 48% 55% 62% 75% Raising a family is more important to me than a career 54% 54% 63% 66% Marriage is very important to me 60% 62% 70% 79% Raising a family is more important than a career: this is even more true for foreign-born (66%).* Q1: Please select the point in the scale to which you agree or disagree with each statement. (Any Agree) WAVE 1 - IDENTITY + VALUES EMERGING BLACK AFFLUENTS | FAMILY_
  • 30.
    <$30K $30-$59K $60-$99K$100K+ My race/heritage defines me 54% 58% 64% 68% My closest friends and I are of the same race/ ethnicity 48% 46% 51% 57% THE MORE AFFLUENT, THE MORE CONNECTED TO CULTURE AND HERITAGE. 30 Q1: Please select the point in the scale to which you agree or disagree with each statement. (Any Agree) WAVE 1 - IDENTITY + VALUES EMERGING BLACK AFFLUENTS | CULTURE_
  • 31.
    SMART MARKETING MOVES WAVE 1 -IDENTITY + VALUES 31
  • 32.
    Blacks Non-Blacks 18-2425-39 40-54 55+ <$30K $30-59K $60-99K $100K+ 83% 81% 73% 58% 76% 64% 65% 60% 51% 67% WITH AGE AND INCREASED INCOME COMES AN EVEN STRONGER CALL FOR BRANDS TO SUPPORT DIVERSITY AND INCLUSION. Q15a. How important is it to you that companies/brands you support promote diversity and inclusion? Whites: 49% Hispanics: 56% Asians: 60% 32 WAVE 1 - IDENTITY + VALUES SMART MARKETING MOVES | DE&I_
  • 33.
    33 18-24 25-39 40-5455+ 46% 41% 52% 58% <$30K $30-$59K $60-$99K $100K+ 60% 53% 52% 44% Q15b. Have you ever boycotted a company or brand because you felt they did something unethically towards people of your race/ethnicity? Boycotting is even more common among key cohorts including Gen Z, Emerging Black Affluents, Men, and those identifying as LGBTQ+. WAVE 1 - IDENTITY + VALUES SMART MARKETING MOVES | DE&I_ 48% OF BLACK AMERICANS HAVE BOYCOTTED A COMPANY OR BRAND BECAUSE OF UNETHICAL ACTIONS TOWARDS THE BLACK COMMUNITY. Men Women LGBTQ+ Non LGBTQ+ Yes 52% 45% 64% 46%
  • 34.
    HIT THE RIGHTNOTES MOVE BEYOND CSR Black Americans are optimistic about personal growth and achievement. Leverage this passion for progress and position your brand as a partner on that journey. ZERO IN Black Americans are incredibly diverse in identity, mindset and behavior. Understand which cohort is most critical for your business and zero in on your message. INFORM + INSPIRE 85% of Black Americans want to know as much as possible before making a decision. This desire increases with both age and income, making product marketing critical for driving sales. While philanthropic efforts are important, if you’re not also marketing services and products in relevant ways, you’re leaving money on the table. According to the August 2021 McKinsey Quarterly, Black consumers are willing to shift $260B to companies that can better deliver what they need. 34 WAVE 1 - IDENTITY + VALUES SMART MARKETING MOVES | TOP 4_
  • 35.
    WILL CAMPBELL MELANIEWILLIAMS ROY EDUARDO KOKOYACHUK Co-Founder and CEO Quantasy + Associates 35 CARLOS YANEZ SVP, Head of Strategy Quantasy + Associates Co-Founder and Principal ThinkNow CSVP, Custom Research ThinkNow WAVE 1 - IDENTITY + VALUES OUR LEADERS_
  • 36.
    APPENDIX 36 Black Consumer ProjectW A V E 1 - I D E N T I T Y + V A L U E S
  • 37.
    DEMOGRAPHICS 37 Blacks (A) Non-Blacks(B) Gender Male 49% 47% Female 50% 52% Transgender 1% 1% Age 18-24 15%B 11% 25-39 31% 32% 40-54 24% 22% 55+ 30% 35% A Identify as LGBTQ+ 12% 14% Born in U.S 90% B 85% Race/Ethnicity Black, African American 100% -- Asian/Pacific Islander 0% 8% American Indian or Alaska Native 2% 1% White -- 88% Hispanic 6% 21% (n=1033) (n=500) Blacks (A) Non-Blacks (B) Region Northeast 17% 19% Midwest 17% 21% A South 57% B 35% West 10% 24% A Marital Status Single 46%B 21% Married or living with partner 38% 62%A Separated/divorced/widowed 15% 17% Annual Household Income Mean (in thousands) $41.7K $56.3K A Political Affiliation Conservative 45% 54%A Liberal 55%B 46% (n=1033) (n=500) WAVE 1 - IDENTITY + VALUES