SSS THE POWER OF THE
BLACK DOLLAR BUY WHERE WE ARE
KEEP
K C A L B D.C.
What is the Power of the Black Dollar? In 2019, Black buying power tallied at a grand total of $1.4 trillion dollars in the United States. Despite being only 13% of the population, Black people— and their buying power—represented well over 50% of the overall spending in multiple, key consumer categories inAmerica. Black buying power is now predicted to increase to $1.8 trillion by 2024—an amount higher than the total gross domestic product of Mexico. Based on these statistics, the power of the Black dollar takes precedence not only in economics but also in American culture, music, fashion, and many other major mediums. Brands and companies alike, are not ignorant of this fact. The brand choices of Black consumers are the entities driving most major markets. These companies immediately recognize Black consumer loyalty and support as a contingency factor for their success, strategically placing them a step ahead of the rest. Despite their clear influence, Black people and Black businesses, are continuously marginalized by the longstanding socio-economic inequalities in America and the deeply embedded systems that support them. Statistically, eight out of ten Black owned businesses fail within the first 18 months of launching in the United Stares. This was exacerbated during the COVID-19 pandemic, where an estimated 41% of Black businesses faced devastating losses in revenue compared to 17% of white owned businesses. So, while the Black dollar drives the American economy, dictates which brands become popular and profitable, and determines the climate of the culture, Black people are still not able to benefit from one thing—their own influence on society. We take this time to implore our peers to recognize the power of the Black dollar, and to make a conscious effort moving forward: buy where we are.
A Pledge to Cooperative Economics I am my sister’s and my brother’s keeper. Insulating my community financially, is a step towards freedom and empowerment. I have a vested interest in the Black future of Chocolate City I will put my money where my mouth is. I will buy where we are.
KEEPING D.C. BLACK To know DC, you must venture past the monuments and capitol hill, and dive deep into an experience of true black culture. From the food, to music and the atmosphere in general, black people have been at the center of the city’s soul for 40 plus years. Dating back to the late 60’s and 70’s, D.C. has been a prime example of a true black metropolis. A place with black teachers, political representatives, fire fighters, students, residents, artists, musicians and much more. Keeping D.C. Black is a commitment to sharing the stories and customs of the culture to our peers. Ensuring that through the constant change that takes place in the city, we continue to celebrate our past and future, and acknowledge who created the fabric for what D.C. has been able to become today.