When a brand reduces its commitment to diversity, equity and inclusion, Black consumers respond with their wallets.
The National Urban League’s 2026 State of Black America report, “America 250: Is The American Dream Dead?” includes a special section on Black consumer behavior and spending. “The Why Behind the Buy: Analyzing Black Buying Power” segment finds that Black consumers are spending more, engaging more deeply with brands and exercising greater influence across major sectors of the economy than many companies recognize.
But they are demanding something in return: authenticity, respect and a genuine commitment to inclusion.
At a time when some corporations are retreating from DEI commitments in response to political pressure, Black consumers are paying attention. The study found that Black consumers are highly likely to reduce spending or seek alternatives when companies scale back their commitments to diversity and inclusion.
That finding should serve as a wake-up call for companies that view inclusion as a public relations exercise rather than a business strategy. Consumers increasingly expect corporations to reflect the diversity of the country they serve. They want to see fairness, representation and cultural relevance embedded in products, services, marketing and corporate behavior.
Loyalty, the research makes clear, is earned through authenticity and lost without it.
The report’s main recommendations:
- Treat Black consumers as a growth segment. Spend levels already justify dedicated investment.
- Make authenticity a brand commitment. It drives loyalty and carries real revenue risk if abandoned.
- Close the supply gap for Black-owned and culturally aligned products. Especially in beauty and finance.
- Prioritize youth-first, creator-led channels. Ages 18–34 and 35–54 are the consistent growth engine.
- Lead with trust over influence. Peer pressure is a weaker driver than assumed.
The report challenges long-standing stereotypes about Black consumer behavior. Black consumers are not simply followers of trends or influencers. In fact, social influence ranks relatively low among the factors driving purchasing decisions. Instead, Black consumers place a premium on authenticity and respect. They reward brands that demonstrate a genuine understanding of their experiences and values. They reject those that engage in superficial outreach.
In financial services, the research shows Black consumers display high levels of financial confidence and a strong desire to build wealth. Yet traditional wealth-building products continue to underserve them. While banking participation has largely reached parity, gaps remain in retirement investment and wealth accumulation.
The opportunity is enormous for institutions willing to meet consumers where they are with accessible products, relevant education and digital-first tools.
In health and wellness, Black consumers are increasingly seeking culturally relevant products and services that acknowledge their unique needs and experiences. The lesson for providers and businesses is straightforward: Culturally competent care is not just good practice; it is smart economics.
The same pattern emerges in beauty, travel and retail. Black consumers consistently express a desire for products, experiences and brands that reflect their identities and aspirations. Yet many industries continue to underserve this demand. The result is a gap between consumer expectations and marketplace offerings, one that innovative businesses should move quickly to close.
For generations, Black Americans have contributed disproportionately to American culture, innovation and economic growth while receiving disproportionately little investment in return. Despite these barriers, Black consumers continue to shape markets, influence trends and create new opportunities for economic expansion.
The National Urban League has long argued that equity and economic growth are not competing goals. They are mutually reinforcing. This report provides powerful evidence that when businesses invest in understanding and serving Black consumers, everyone benefits. Stronger businesses, stronger communities and a stronger economy all flow from the same principle: Inclusion drives growth.
Marc H. Morial is president and CEO of the National Urban League and was mayor of New Orleans from 1994 to 2002.