Black buying power increases, but the circulation of the dollar within Our community remains low
Sales increases, but low circulation of dollar plagues within black community
A native Victorian, Ross-Haith said her parents emphasized to her and her siblings the importance of supporting the black community by purchasing products and services from people who looked like them.
As an adult with a business of her own, however, Ross-Haith said that mind-set has seemingly fallen by the wayside.
“That’s what’s wrong with the black culture now. They don’t try to help each other,” said Ross-Haith, co-owner of B&B Handbags. “(Black shoppers) would come and look but never buy.”
Ross-Haith’s statements come on the heels of recently released data that reports black buying power has increased from $957.3 billion in 2010 to an expected $1.1 trillion by 2015.