News Release
FOR IMMEDIATE RELEASE

CONTACT: 

All US Media Inquiries
Norm Bond at NORMBOND & Associates
m: 215.796.0206, e: norm@normbond.com

NAMD ANNOUNCES 10th ANNUAL “BUY BLACK” HOLIDAY SHOPPING EXPO: GRASSROOTS APPROACH TO ECONOMIC DEVELOPMENT AND JOB CREATION

Philadelphia, PA (November 16, 2011) – The Philadelphia Chapter of The National Alliance of Market Developers (NAMD), today announced its 10th annual “Buy Black” Holiday Shopping Expo will be held at First District Plaza, 3801 Market Street on Saturday, December 3, 2011 from 10:00AM – 6:00PM. The mix of consumers, vendors, entertainment and educational information make for a unique shopping experience. Attendees will enjoy an assortment of products and services from nearly fifty different businesses. The event features department store quality products, in a smaller environment where consumers can often interact directly with the entrepreneur who has created the item and receive prices that are significantly more affordable than other alternatives. Businesses from Washington, DC to New York, NY will be represented in this regionally targeted event,  Admission to the event is free and all are welcome and encouraged to attend.

According to the special report “The State of the African-American Consumer” released by Nielsen and the National Newspaper Publishers Association there are dynamic changes occurring within this market segment. The collective buying power of the African-American population is projected to be at $1.1 trillion by 2015. Collectively the group over-indexes in several key categories (television viewing, mobile phone usage, and trips to grocery channels) and exerts a large influence on popular culture and trends. 

“The annual NAMD ‘Buy Black’ event provides an opportunity for those that want to support Black-owned businesses to participate directly by identifying and patronizing these vendors and business owners on site” said Norm Bond, Chairman of NAMD. By increasing the dollars that circulate within these businesses, more jobs can be created and the African-American unemployment rate, currently the highest of any ethnic group in America, can be lowered. According to Target Market News, in the Philadelphia Metropolitan Area, Black consumers spend in excess of $15 billion per year. However, 95% of these dollars are spent with non-Black owned businesses, a characteristic unique to the Black community.

According to the National Retail Institute, “Nationally, jewelry stores report that 23.8 percent of their annual sales occur during December and 9.2 percent during November--the two biggest months of the year. Some December sales guidelines for other trade lines: national chain department stores, 15.3 percent; discount department stores, 13.6 percent; apparel and accessory stores, 13.6 percent; electronics stores, 13.4 percent; sporting goods and bicycle shops, 13.5 percent; all retail stores, 10.1 percent.”

This year competition is especially fierce for the African-American consumer dollars. Some retailers are jumping the gun on “Black Friday” by opening their stores during the Thanksgiving holiday. Many are offering layaway programs. And even more are offering other incentives including discounts and using social media tools to penetrate the target market. In this environment African-American owned businesses, many of whom have miniscule marketing budgets are not likely to survive without direct action by advocates, conscious spending of the African-American consumer, and  employing new habits to better harness the collective purchasing power. 

ABOUT NAMD: Founded in 1952, the National Alliance of Market Developers (NAMD) is a 501(c)3 non-profit association of marketing professionals, entrepreneurs and students, created to educate, inform and network around all aspects of the Black community.  It pioneered research, development and economic insights into the Black consumer market. Visit www.namdphiladelphia.com for more information.

Notes to Editors:
To arrange interviews, obtain media credentials, or contact event organizers or partners:

For all US Media inquiries contact Norm Bond at NORMBOND & Associates.
e: norm@normbond.com  (215) 796-0206 

NAMD Philadelphia website:
www.namdphiladelphia.com

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Retailer Vendor at NAMD Buy Black Offers Deep Discounts

Educational and Informational Products for All Ages

Health and Nutritional Product Vendors Connect with Audience

As Assortment of Unique Jewelry Vendors are in Attendance

Consumers Can Interact Directly with Product Retailers

NAMD Events Provides Consumer Education and Increases Awareness