4 Lessons To Take From The Power Of The Black Pound

September 23, 2020 By: wmutenza0 comments

Lydia Amoah, the author of the Black Pound Report © Instagram Lydia Amoah

“The confident woman I am today, isn’t the person I was growing up,” Lydia Amoah, the author of the Black Pound Report, tells British Vogue. “I felt that I needed to do something about that. I remember from the age of 14 up until I was 20, I felt like parts of me were dual. I knew that I was confident and I knew I had things to offer, but there was this other side to me that didn’t believe in myself, and it came down to money.” Fast forward to 2018, and Amoah was still preoccupied by money. So much so that she self-funded and published a report outlining the economic value of ethnic minorities in the UK. It was 26 pages of insights into the power of the Black pound. Businesses want it, and brands need it.

Amoah – a successful business coach and policy maker – coined the term the “Black pound”. Its usage is now such that today (1 August) marks the second Black Pound Day. Established by musician and ex So Solid Crew member Swiss, its aim is to encourage people to support and buy from Black-owned companies (both local to them and online).

Read full story at vogue.co.uk

The Black Pound Report

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The Black Pound Report is a great example of how Black, Asian and Minority Ethnic people are more than just a stereotype in the advertising industry.

This is a very important piece of research as it highlights an important and rarely reported part of the advertising industry.

The report offers robust evidence that the spending power of the BAME community has been extremely underrated, and UK industries are missing out on revenue from these consumers by failing to represent and target them in the right way.

The Black Pound report provides insights into new markets to help industries become more inclusive and recognise the importance of authentic communication and representation. The Black Pound Report dispels the myths and communicates the value of multicultural consumers who are growing at a fast pace and gaining more influence.