With over $1.4 Trillion in gross spending power, the force of the Black Dollar is more powerful than the average person might think. Heading into America’s shopping season, it’s critical to understand the strength Black Americans possess through conscious consumerism.
According to research, Adults in the US are expected to drop a total of $148.5 billion on Black Friday and Cyber Monday, with American consumers expected to spend on average $664.77 this holiday season. Considering 2% of Black funds are recirculated back into the community, only $13 of that $664.77 holiday shopping spend by Blacks will go towards Black-owned businesses.
We must channel those resources in ways that uplift our community, create assets instead of liabilities and produce generational wealth opportunities. Economic prudence is the foundation to building wealth and elevating our culture to higher levels of financial stability.
The roadmap to prosperity begins with efforts of promoting other Black-owned businesses. We have taken the liberty to curate a resource guide of Black-owned businesses and designed a limited-edition “intention” candle – email firstname.lastname@example.org, for availability.
Additionally. PLUS ONE created a digital campaign highlighting some of our favorite Black-owned businesses that we’ve hand selected to promote during this crucial spending season.
The ultimate goal is to unite our dollars and continuously reinvest in Black-owned businesses that serve our community.