Companies are progressively endorsing Black Lives Matter
It’s wasn’t long ago that companies couldn’t care to put their money where they mouth is when it came to black lives.
Prior to the public and global outrage over the death of George Floyd, few companies paid much attention to Black Lives Matter, believing it will pass as a moment. Today, in the wake of the George Floyd protests, major companies well known global brands including Apple, Amazon, Facebook, and Sony have endorsed the movement – or at a minimum pledged millions of dollars to fight racism and vowed to do more to end discrimination in their workplaces.
Why did companies swiftly decide to align with Black Lives Matter?
Could to be post-Floyd murder and the rage from the younger generation not to accept racism in their future who believes black people are treated differently and support Black Lives Matter?
That the younger generation with the buying power think brands should be even more involved in Black Lives Matter and a significant growing share of black people, consumers of all ages and demographics have responded to George Floyd’s murder by acknowledging systemic racism pervades the social and criminal justice system.
Views of the younger generations are significant structured in business plans years ahead in fore thinking concerning profit margins and attracting younger consumers is so vital to brands’ future growth, and should they neglect consumers moral values could see a significant dent in big brand profits declining globally, should young people see the household brands care little about their lives, care little about equality and justice particularly where it involved black lives.
We can now and the younger generation in the future create a global movement, which will be more than a moment on social media’s in a relatively short period of time that will massively impact on brands reputation highlighting those who do and do not support equality justice in real life and who talk out on racism and demonstrate by having a diverse workforce.
The spending power of young adults is trillions and likely to grow significantly in the coming years and big brands foresee this could massively impacting on brand survival and loyalty to big brands. The younger spending power is yet to impact the big brands profit margins now since few of them have entered the workforce but their parents who do spend for them and selves are already making active choices on what brands to give their money and loyalty to and what brands to boycott in protest.
Big brands looking ahead will obviously factor in the future spending of young adults and predict it will swell in the coming years.
Young people believe it’s important that the companies they buy from share their humanitarian and social values, even more so than past generations for many reasons, including awareness. ability to mobilise swiftly and effectively and systems to be able to shut them down.
This is a wakeup call for big brands and to remain as big brands - they need to and are now expressing their support for the movement, which currently is largely via social media, where they know young people get to know about their brands BUT now company to bring in into practice, not just talk the talk but walk the walk!
Young people are taking note, are ready and willing to take mass action by using their spending power, putting money where their mouths are and spending with those brands that do more than spell out they are anti-racist.