Five years after the tragic murder of George Floyd sparked a nationwide movement for racial justice, many Black-owned businesses are now experiencing a decline in the support they once enjoyed. The surge in consumer interest and corporate backing that followed Floyd’s death has largely fizzled, leaving owners to navigate a turbulent landscape.
Frankesha Watkins, owner of BPolished Beauty Supply in Dallas, recalls the initial boom she experienced as a result of the “Shop Black” movement. “Foot traffic was booming, and I thought this support would stay with us,” Watkins said. However, she found that the excitement around supporting Black-owned businesses was short-lived. After about five months, business dropped off significantly, forcing her to close one of her locations due to the unpredictable patronage that she described as the “yo-yo effect.”
This instability is impacting other Black business owners as well. Sherard Duvall, who runs OTR Media Group in South Carolina, reported challenges stemming from fluctuating demand as clients ceased seeking partnerships with minority-owned firms. He echoed concerns about the financial implications of this inconsistency, noting difficulties with contractor payments and payroll.
Despite the overall decline in steady consumer support and corporate partnerships, there may be a silver lining. Brandelyn Green, a consultant for businesses, suggests a renewed wave of consumer support is emerging as some major retailers distance themselves from Diversity, Equity, and Inclusion (DEI) initiatives. She believes this dissatisfaction with larger corporations may redirect attention towards smaller, Black-owned businesses.
To leverage this potential opportunity, Green advises business owners to actively engage with their customers through promotional strategies and to position themselves as industry experts. By doing so, businesses can foster trust and maintain sales even when external support diminishes.
The ability of these businesses to navigate the ups and downs of support highlights the resilience of the Black entrepreneurial community. As they adapt to challenges while holding on to their commitment to excellence, the hope remains that sustained support will return.