Report: A majority of consumers want to prioritize buying from Black-owned businesses

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A new survey by Dynata found that the majority (60%) of consumers surveyed are already prioritizing or wanting to buy from black-owned businesses, indicating that supporting black-owned businesses is best for consumers.

Taking a closer look at how consumers implement this, the survey found that most consumers start online or tap into their inner circles when they want to support black business owners. For example, about half of those surveyed say they are learning about black-owned businesses from social media, and 42% say they hear about them by heart. As online reviews and word-of-mouth recommendations continue to lead consumers to make purchasing decisions, customer experience has emerged as a key indicator of the continued growth of these businesses.

The current state of the world is a consideration that is influencing consumer purchasing decisions. As more and more consumers put their money behind brands with aligned values, a strategic approach is needed to understand the consumer. For example, the data also show that over the past year, many consumers have changed their shopping habits due to climate change or social justice issues. In fact, nearly a quarter of consumers surveyed are now looking for sustainable brands, 19% looking for brands owned by BIPOC (Black, Indigenous and People of Color), and 19% looking for small businesses to buy.

In an effort to better understand how today’s consumers are interacting to support black-owned businesses in recognition of Black History Month, leading market research tool Dynata conducted a survey of 1,000 Americans (18-65+ years old) on behalf of ActiveCampaign, January. 26 – 28, until 2021.

Read the full report by Dynata.

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