Brands are re-evaluating their businesses to support the Black community
Trend - Amid the resurgence of the Black Lives Matter movement, brands are re-evaluating their business models to combat systematic racism. These initiatives include evaluating the number of products on their shelf owned by Black business owners, funding budding Black-owned startups, and removing racist language in their coding.
Insight - Protests continue throughout the globe as the world seeks to call out systemic racism amid the wrongful death of George Floyd, Rayshard Brooks, and far too many others. Thanks to social media, more consumers have become aware of the injustices the Black community faces, and are using these platforms to call out brands that participate in the oppression of this community. As a result, they are turning to brands that go further than posting their outrage on a superficial level and are seeking brands that actively find ways to support Black communities with tangible plans of action.
Insight - Protests continue throughout the globe as the world seeks to call out systemic racism amid the wrongful death of George Floyd, Rayshard Brooks, and far too many others. Thanks to social media, more consumers have become aware of the injustices the Black community faces, and are using these platforms to call out brands that participate in the oppression of this community. As a result, they are turning to brands that go further than posting their outrage on a superficial level and are seeking brands that actively find ways to support Black communities with tangible plans of action.
Workshop Question - How can your brand aim for equality and diversity at all levels?
Trend Themes
1. Supporting Black-owned Businesses - Major brands and corporations are learning to acknowledge systemic racism and are taking concrete steps to support Black-owned businesses in a tangible way.
2. Diversification and Inclusivity in Industry - Brands are realizing the value of recognizing diversity and inclusivity in their own internal and customer-facing practices, resulting in increased support for minority communities and actors in industry.
3. Live Shopping and Interactive Marketing - Leading brands are embracing live shopping events and interactive marketing campaigns to engage with their audiences and foster the growth of small businesses and important social movements.
Industry Implications
1. Retail and E-commerce - As more consumers are focused on supporting Black-owned businesses, more e-commerce retailers and brick-and-mortar storefronts are expanding their product lines and commitments to initiative to support minority-owned companies.
2. Food Service and Hospitality - Many food service and hospitality companies are honing in on supporting Black-owned restaurants, supporting notable chefs and restaurateurs, and offering programs to so that small business owners can grow.
3. Community Development and Philanthropy - Corporations, organizations, and individuals making meaningful investments in community development initiatives and philanthropic efforts are increasingly recognizing the value of investing in the growth of minority-owned businesses, and supporting the expansion of corporate-led social movements.
4 Featured, 35 Examples:
34,679 Total Clicks
Date Range:
Jun 20 — Oct 21
Trending:
Untested
Consumer Insight Topics:
