New national study by ByBlack and fund for social equity finds Black-owned business seals boost consumer spending

A groundbreaking national study found that when Black-owned brands lead with their identity and market themselves as certified Black-owned businesses, consumer likelihood to purchase their products rose as much as 30%.

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The research also found that half of Americans were willing to pay a premium for products from Black-owned businesses when those businesses donned a seal certifying that ByBlack, a national directory and certifying body, had reviewed and vetted their business. Released by the Fund for Social Equity and ByBlack, powered by the U.S. Black Chambers, Inc. (USBC), the data show that consumers across various political and geographic backgrounds consistently maintain a deep interest in closing the racial wealth gap through their spending choices.

This study comes at a pivotal moment as various major companies roll back their Diversity, Equity, and Inclusion (DEI) initiatives on store shelves, supply chains, and business operations. Amid opposing public perceptions of their importance, this research provides empirical evidence that consumers actively support Black-owned businesses when given clear indicators of their identity and impact.