One brand wants to do Thanksgiving traditions differently, which is why they established the Black Friday fund. The Friday after Thanksgiving is known as a big (if not the biggest) shopping day of the year in the United States due to retailers offering significant sales and discounts. Socially conscious fashion retailer Everlane is committed to "radical transparency" and "encouraging thoughtful consumption."
In an endeavor to educate people about the real costs and source of the things we buy, Everlane doesn't believe in sales. In fact, in the past the online brand also shut down its site on Black Friday. This year's Black Friday Fund receives 100% of the day's profits with a goal of collecting $30,000 to sponsor recreational facilities and gardens at one of their factories in Hangzhou, China.
Why This Trend Is Growing
- Radical Transparency
- Opportunity for businesses to promote transparency in their operations and supply chain, building trust and resonating with socially conscious consumers.
- Charitable Consumerism
- Potential for brands to implement cause marketing campaigns that align with their values, creating a positive impact while driving customer engagement and loyalty.
- Thoughtful Consumption
- Potential for businesses to educate consumers about the real costs and impact of their purchases, encouraging them to make more conscious and sustainable buying decisions.
Industries Being Reshaped
- Fashion Retail
- Fashion retailers can adopt radical transparency practices to provide customers with visibility into their supply chain and production processes, fostering trust and authenticity.
- E-commerce
- Opportunity for online retailers to implement charitable consumerism campaigns, leveraging their digital platforms to raise awareness, funds, and support for various causes.
- Manufacturing
- Manufacturers can explore initiatives to promote thoughtful consumption by showcasing sustainable production practices and investing in ethical and environmentally friendly facilities.
