Black consumers are increasingly using online channels to purchase these products and are 11 percentage points more likely to prefer using e-commerce to buy apparel.
Most notably, Black consumers have a strong preference for Black-owned fashion brands and brands that culturally resonate with Black culture. According to a McKinsey release, non-Black consumers are up to three times more likely to switch to Black-owned apparel and footwear brands.
According to a McKinsey study, apparel and footwear spending by Black consumers in the United States will reach $70 billion by 2030, growing nearly 6% annually in nominal terms. This is part of a total nominal $445 billion that survey data suggests could be earned from 2022 to 2030, including a cumulative $50 billion in all-new spending.
This demand for fashion brands that speak to black culture is particularly evident in luxury fashion goods.
These preferences are associated with an overall increase in inclusive consumers regardless of race or ethnicity. His 45% of consumers want to support diverse brands.
A McKinsey study found that fashion brands’ ability to tailor and engage with black consumers can be particularly rewarding. These consumers are more likely to rely on recommendations from friends and family, which are among the top four most important factors in footwear and luxury fashion purchases for Black respondents in the survey.
McKinsey suggests that maintaining a strong brand position and leveraging word of mouth and buzz can increase brand value in the Black community.
Additionally, Black consumers are more price conscious when evaluating branded alternatives. This is a result that applies regardless of the sector. Compared to non-Black shoppers, a Black consumer is 4% more likely to switch luxury brands in pursuit of lower prices.
These findings suggest that marketing materials that emphasize the value customers can experience from a brand’s products are particularly popular.
Black consumers are 5% more likely than non-Black consumers to visit a brand’s website before making a purchase and 6% less likely to read a print review. are more likely to buy fashion online.
This digital-first engagement style could be a sign of active engagement with the brand or reflect the fact that they are relatively young. Research on key purchase drivers shows that Black consumers are active shoppers who are proud to continually seek out and support brands they trust.
Fiber2Fashion News Desk (DS)