By CultureBanx Team
73% of African Americans 13 and older are gamers
U.S. online spending during the holiday shopping season will grow to $124.1B
Get your holiday coins together because Adobe Analytics is forecasting U.S. online spending during the holiday shopping season is likely to grow 14.8% this year to $124.1 billion. Retailers will be trying to get a piece of the $1.3 trillion annually that the black community spends, with the most anticipated gifts of the season being 4K TVs, retro video games and consoles.
Why This Matters: Black teens are second only to Asian Americans in playing video games, which implies a $36 billion opportunity for games that speak authentically to the African American experience, according to Nielsen. With games being a hot ticket item this year retailers will be heavily targeting this demographic for online sales.
E-commerce retailers this year will benefit from an extra day between Cyber Monday to Christmas, which is likely to provide a $284 million sales boost, Adobe’s report found. The tech savvy black digital elite are definitely helping to contribute to sales, especially with gaming because 73% of African Americans 13 and older are gamers, compared with 66% of the total population, Nielsen’s wrote.
The November and December holiday shopping season are critical for retailers, when they book an outsized portion of their annual sales and profits. Adobe also forecast the best days for shopping online based on prices across product categories during previous years. For example, Thanksgiving is likely to be a good day to buy sporting goods as prices could be 13 % lower and Black Friday will still be a good option for television purchases as prices could be about 22% lower.
Situational Awareness: Despite the large number of African American gamers, there is a lack of diversity within the industry and the games themselves. However, there are developers like Culture Shock Games and Dim Bulb Games that are trying to change that.
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