#BuyBlack Friday: Facebook launches new campaign to support black businesses

Facebook on Thursday announced the launch of its new #BuyBlack Friday campaign which is targeted at supporting black-owned businesses which have by far been affected by the coronavirus pandemic compared to others.

The campaign will be a three-month “Season of Support” for these businesses which will provide toolkits and other helpful resources to the Black-owned businesses. Using the toolkits black-businesses can amplify the #BuyBlack campaign.

The social media giant is also creating a platform that will offer events and resources through the Facebook app and the Lift Black Voices hub. It will also include a new Facebook app feature which will enable people to share posts that support these businesses, in addition to a weekly Friday show which will feature business owners, entertainers, and music artists.

“Black-owned businesses have been hit especially hard by the pandemic,” said Facebook’s Chief Operating Officer Sheryl Sandberg, in a Thursday blog post. “But we know that millions of people want to help.”

The campaign will begin on Friday, October 30, and run through November 27 which is the official black Friday date for most retail stores. Facebook will also release a new #BuyBlack Friday Gift Guide later this month. This offer will feature a variety of products in different categories.

Earlier in June, Facebook announced a $100 million initiative as a contribution to helping Black communities. The goal of this initiative is to spend at least $1 billion with several suppliers, beginning from next year. Also, in August, the social media giant company launched a $40 million grant program to help support black-owned businesses. New user features like the ‘Businesses Nearby’ tool was also added on its app for businesses to identify as black-owned.

“This year has delivered endless challenges for small businesses, and the data shows Black businesses are affected more than most,” said Maxine Williams, Facebook Chief Diversity Officer. “Let’s all do what we can during the Season of Support launched by Facebook and beyond. It’s time to stand up and help Black businesses.”

Facebook’s concern for supporting black-owned businesses was reflected in Sandberg’s blog post where she pointed out that these businesses closed at twice the rate of other businesses during the pandemic. As a result, more than 100,000 small businesses nationwide have permanently closed.

According to estimates from the Federal Reserve Bank of New York, approximately 41% of black-owned businesses forcefully shit down between February and April, compared to white-owned businesses which only had about 17% shut down businesses.

Unlike black-owned businesses which have been hit hard by the pandemic, companies like Amazon, Walmart and Target have emerged among the big winners of the pandemic season. As the competition continues to reduce, these businesses continue to expand as most customers would rather shop online and have their good delivered at their doorsteps for fear of catching the virus.

“We will be working closely with the US Black Chambers, an influential network of Black entrepreneurs, to encourage people to #BuyBlack over the holidays,” Sandberg said.