by Marc Morial
(TriceEdneyWire.com)—“I believe in destiny. But I also believe that you can’t just sit back and let destiny happen. You are going to have to get out there and make it happen.”—Spike Lee
Black Americans are tired of being disrespected at the cash register, and we’re taking our grievances to the bank.
A year into the call to boycott Target for retreating on its diversity, equity, and inclusion commitments, the Urban League movement commissioned a report to understand where our dollars are going today and why. Titled Economic & Psychographic Research on Black America, this study accompanied our 2026 State of Black America Report as a special section.
The research included focus groups and polling of Black Americans from every age group and region in the country, as well as sets of non-Black peers with the same demographics. The findings across five categories- groceries, health and wellness, saving and investing, beauty, and travel- painted a picture of where our dollars are going today and why.
The key takeaway was that our community is no longer showing up for companies and brands that aren’t showing up for us, and we’re taking our $2.1T in spending power, just shy of the entire GDP of Canada ($2.5T), with us.
The report found that 45 percent of Black consumers say they would reduce spending or actively seek alternative brands if a company reduced or eliminated its commitment to diversity, equity, and inclusion, compared with 31 percent of non-Black consumers. Online backlash and boycotts are no longer simply a public relations issue. They are growing business issues with measurable marketplace consequences for customer loyalty, brand reputation, and long-term revenue.
And we’re understanding the value of supporting one another. We found that 58 percent of Black consumers say supporting Black-owned businesses is important to them, compared with 31 percent of non-Black consumers. Price and product quality remain important, but they are no longer enough. Trust and respect are drivers.
And we’re not just buying; we’re building. We found that Black respondents were more interested in business savings accounts (19 percent vs. 14 percent), business checking accounts (17 percent vs. 12 percent), and Individual Retirement Accounts (16 percent vs. 11 percent). And among Black adults ages 18 to 34, interest rises to 29 percent for business savings accounts and 25 percent for business checking accounts.
For our young people, these investments have extended into the future of industry. 41 percent of Black consumers spent money on content creation during the past year, compared with 33 percent of non-Black consumers. Among Black consumers ages 18 to 34, average spending on content creation reached $1,920, compared with $1,530 among non-Black consumers. My takeaway from this research is that much of our influence is nothing new. We’ve shaped fashion and beauty trends, music consumption, and turned the Box Office on its head, as we saw last year with the performance of Sinners. Today we’re coalescing that influence and our dollars around an economy that serves us better than the one that has been handed to us for centuries. We have a generation of people who are taking their futures into their hands and creating a world that works for all of us.
