What is the trend of black-owned business support?

The 15% pledge is driving consumers to actively seek out and support Black-owned businesses, creating opportunities for increased visibility and sales.

What is the trend of diversity and inclusion in retail?

Companies like Yelp are recognizing the importance of dedicating shelf space to underrepresented businesses, presenting opportunities for improved representation and customer loyalty.

What is the trend of pr campaigns for social impact?

By highlighting Black-owned businesses through PR campaigns, companies can leverage their support to build positive brand reputation and engage socially conscious consumers.

What are the implications for the retail industry?

The 15% pledge offers disruptive innovation opportunities in the retail industry by encouraging businesses to diversify their product offerings and support underrepresented entrepreneurs.

What are the implications for the marketing and advertising industry?

The emphasis on PR campaigns and highlighting Black-owned businesses presents disruptive innovation opportunities for marketing and advertising companies to create impactful strategies and campaigns.

What are the implications for the local business directories industry?

Platforms like Yelp play a crucial role in the 15% pledge as they can innovate on their search features and algorithms to better showcase and promote Black-owned businesses.

Black-Owned Business Pledges : 15 pledge

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Black-Owned Black Friday Initiatives Image 1

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Inclusive Small-Business Initiatives Image 1

Black-Owned Restaurant Initiatives Image 1

Yelp is the Latest to Join the 15% Pledge

Ellen Smith — September 2, 2020 — Business

References: 15percentpledge.org & hypebae

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Founded by Aurora James, the 15% pledge is an outcome of the Black Lives Matter Movement that encourages retailers and businesses to dedicate 15% of its "shelf space" to black-owned businesses, and Yelp is the latest company to join this pledge.

After this year's Black Lives Matter protests, Yelp saw a 6,520% jump in users searching for Black-owned businesses, showcasing consumers commitment to supporting local or independent labels. In addition to signing the pledge, Yelp launched a Black-owned business search bar which helps to showcase different spots, and to streamline consumers' searches.

Other brands that have joined the 15% pledge include Sephora, and Vogue. Of the many initiatives it plans, Yelp hopes to highlight Black-owned businesses through PR campaigns and more.

Image Credit: Igor Golovniov/Sopa Images/Lightrocket Via Getty Images

Trend Themes

Black-owned Business Support — The 15% pledge is driving consumers to actively seek out and support Black-owned businesses, creating opportunities for increased visibility and sales.
Diversity and Inclusion in Retail — Companies like Yelp are recognizing the importance of dedicating shelf space to underrepresented businesses, presenting opportunities for improved representation and customer loyalty.
PR Campaigns for Social Impact — By highlighting Black-owned businesses through PR campaigns, companies can leverage their support to build positive brand reputation and engage socially conscious consumers.

Industry Implications

Retail — The 15% pledge offers disruptive innovation opportunities in the retail industry by encouraging businesses to diversify their product offerings and support underrepresented entrepreneurs.
Marketing and Advertising — The emphasis on PR campaigns and highlighting Black-owned businesses presents disruptive innovation opportunities for marketing and advertising companies to create impactful strategies and campaigns.
Local Business Directories — Platforms like Yelp play a crucial role in the 15% pledge as they can innovate on their search features and algorithms to better showcase and promote Black-owned businesses.

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