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.
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Why This Trend Is Growing
- 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.
Industries Being Reshaped
- 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.
