'My Black Receipt' Movement Reaches Over $7M In Receipts Since June
Pull those RECEIPTS!
Since the beginning of June, we’ve seen injustice, protests, and unrest all while continuing to fight a pandemic that seems hellbent on staying put. In all of the necessary difficulty we've also seen an awakening happen for many outside of and within our communities of color. The notion of buying Black has always been a staple in our culture but, June saw a resurgence that found us supporting Black businesses with a renewed vigor.
Showing the economic impact of buying Black is absolutely necessary, especially now. Considering there are over 2 million Black-owned businesses in the U.S., but only about 4% of them have enough revenue to have paid staff, according to the U.S. Census Bureau, Black consumers alone have commanded $1.3 trillion in annual buying power. To see more that money go back into businesses established within our own communities is huge and mobilizing activists and allies to protest with their pockets can make a huge difference not just in the lives of Black business owners but, in the ways in which large brands treat the Black consumer.
Enter, the My Black Receipt Movement. Created and launched by Kezia M. Williams, CEO of The Black upStart along with Torrence Reed, CEO of Zoom Technologies, Darryl Perkins, co-founder of Broccoli City, Talib Graves Manns, CEO of Knox Street Studios and 19 Keys, CEO of Goldewater on Juneteenth, the initiative set out to encourage consumers to buy from Black-owned companies and upload the receipts of their purchases to the myblackreceipt.com platform. The goal, Williams said, was to get Black customers and allies to spend at least $5 million with Black businesses from Juneteenth to July 6, a day before “Blackout Day” in which community leaders asked Black consumers and allies to not spend any money for a day in hopes that the economic solidarity will raise awareness about racial injustice.
As of today (July 15th) the total spending count was up to $7,668,803.11, with numbers being updated every 10 minutes. Williams previously spoke to The Huffington Post about why it’s important to make buying Black more than just a trend. “We are starting to talk about how this technology can incentivize buying Black long-term, not just in response to protests, and how we can build community around the recirculation of the dollar using technology,” said Williams. She hopes that the data collected will help to provide necessary insight into spending habits, sectors, and cities as well as consumer preference between online and traditional shopping.
Kezia Williams, CEO of The Black UpStart. Photo credit: Kezia Williams
Right now, as the coronavirus pandemic continues to upend small businesses across the country, data shows that Black entrepreneurs have been hit the hardest, with the number of working Black business owners falling by more than 40% due to Covid-19. This decrease, according to many experts, further confirms the fear that the pandemic may widen the already existing racial wealth gap in America. In 2016, the median wealth of a White American family was 10 times the median wealth of a Black American family, according to a McKinsey & Co. report.
So, how do you get started?
When you buy Black, save your receipt in a PDF format. Either create a PDF from your virtual sales receipt of take a picture or scan your paper receipt to your computer. Be sure to redact any personal info (full name, telephone number, credit card numbers, addresses, payment information, etc.). Head to MyBlackReceipt.com and enter your personal information as well as information on the business you supported in the applicable fields. Upload your receipt and submit. It’s that simple!
“Thanks to all of you for submitting your receipts...The first ever buy Black movement quantified, and the first digital Black Wall Street built with actual dollars spent with Black businesses you chose in physical and digital neighborhoods across the world! You built this foundation. And our foundation is strong because of you!,” Williams said in a statement on social media.
My Black Receipt plans to release a report following the end of the campaign, that helps to aggregate the data. To learn more about the movement and to upload your own receipts, visit www.myblackreceipt.com.