Growth in Number of Black-Owned Businesses

November 18, 2020

By Katherine Williams

It’s no secret that Gen Z is a progressive generation. From climate change to reproductive justice to gender equality, Gen Z is committed to social justice and a variety of progressive issues. For example, movements like the March for Our Lives and Black Lives Matter are largely driven by Gen-Z activists. With the rise of the Black Lives Matter movement, Gen Z has been at the forefront of racial justice protests, especially on social media. 

Gen Z uses social media apps like Instagram and TikTok to share resources for supporting the #BlackLivesMatter movement. This includes amplifying and buying from Black-owned businesses. With many Gen-Z members in support of redistribution of wealth and reparations, buying from Black-owned businesses has become a way for young people to make their progressive values a reality.

Black-owned businesses have thus skyrocketed in popularity among Gen-Z consumers and within online communities. From Black-owned herbal tea brand Ivy Tea Co. to vegan cookie brand Partake Foods, there is no shortage of Black-owned companies that young people love to support.

Gen Z’s commitment to racial equality and ethical consumption has made supporting Black-owned businesses a priority among Gen-Z shoppers. Young people are increasingly sharing Black-owned vintage clothing shops like Juice Rack and Angel Khai, which are based on the Depop app, a popular online clothing market among Gen Z.

While there have always been small and large businesses owned by Black people, never before has there been such an explicit commitment to buying from Black-owned businesses. Gen Z’s genuine desire to make an impact with their buying power shows just how much Gen Z wants to make intentional, ethical, and positive purchasing decisions. 

Marketing to Gen Z needs to take into account racial and social justice in order to better engage these young consumers. Gen Z focuses on Black-owned businesses because they see this as a method of advancing the fight for justice, revealing that Gen Z sees a direct link between consumption and social justice.

The growth in the popularity of Black-owned businesses indicates that the Gen-Z consumer base is deeply interested in the politics of their purchases, taking into account race, gender, and class to work toward a goal of ethical consumption. Understanding these Gen-Z values is crucial when connecting with the young consumer base and engaging Gen Z in social justice-focused marketing and content.

Adolescent Content, a global marketing agency run by Gen Z for Gen Z, can help tailor your marketing strategies to attract your target consumers.