KJ's article makes a great counter argument on the effects of Black buying power.

The “$2 trillion dollar buying power” narrative seems to only account for the “financial literacy” aspect of Black people “not knowing how to properly budget their money”, or that Black people “lack basic investment knowledge” 🙄. Most people know how to stretch a dollar in between paychecks. They've mastered it. You cannot invest money you do not have and that becomes a different issue in the “buying power” conversation. Also, most Black people's income has not kept up with inflation, which would've helped to curtail inflation. This explains why people are unable to purchase as much year over year. There are many things that can affect purchasing power by driving prices up or down, impacting supply and demand or making credit more expensive, and individuals have little control over it. That means these households are experiencing a loss of purchasing power.