The NAACP recently published a spending guide with a list of companies that have remained dedicated to diversity, equity and inclusion programs in an effort to ensure that Black Americans are investing their money towards brands that show support for the initiatives.
Published on Saturday, the list, titled the “Black Consumer Advisory,” included praise for companies such as Delta Airlines, Apple, Ben & Jerry’s, e.l.f. Cosmetics, Costco and JPMorgan Chase & Co for sticking to their DEI programs despite pressure. Officials from the NAACP insisted that they are not asking for a boycott of companies that removed DEI programs, but are instead trying to promote the spending of money on companies that support the social and economic advancement of Black Americans and “prioritize people over profit.”
Through the Black Consumer Advisory, the civil rights group is also urging Black Americans to support Black-owned businesses, learn about corporate changes on DEI programs as well as call out the companies that have done away with DEI initiatives.
“The NAACP recognizes that the rollback of DEI initiatives is a direct attack on Black
economic progress, civil rights, and the principles of equity and fairness,” said the NAACP in their official release. “These actions are part of a broader effort to reverse gains made in civil rights and social justice.”
The latest guidance from the NAACP comes as the spending power of Black Americans continues to grow. According to a report by the McKinsey Institute for Black Economic Mobility, the collective economic power of economic power for Black Americans was roughly around $910 billion in 2019. By 2030, it’s expected to have a financial burst, equating to about $1.7 trillion.
During the 2020 Blackout Day, a day in which Black Americans do not use any of their spending power, companies such as Adidas have previously acknowledged the impact Black Americans have on their profit as part of the largest demographic that has that level of economic power.
With the Black Consumer Advisory, the NAACP is urging citizens to tap into that consumer buying power to help save DEI programs.
“We urge Black consumers to remain vigilant, informed, and intentional in their economic decisions, using their collective power to demand accountability from corporations and institutions,” said the NAACP. “Together, we can push for meaningful progress and ensure that diversity, equity, and inclusion are prioritized and expanded.”
