American rapper Sean Combs, better known as Diddy, partnered with Salesforce to launch SHOP CIRCULATE, a curated online retail platform for Black-owned businesses. The digital platform is designed to help close the extreme and unequal wealth gap in America by empowering Black entrepreneurs with the tools and exposure to successfully compete in the marketplace. The platform will feature products from many categories including health, beauty, fashion, and more.
SHOP CIRCULATE will be built from the ground up, drawing on the creative services of Deloitte Digital and the digital tools of Marketplacer. Combs Enterprises, Diddy's company, also acquired The Nile List, a digital community dedicated to Black-owned brands, which will likely be integrated into SHOP CIRCULATE. The platform also teamed up with Official Black Wall Street, another discovery tool for Black-owned businesses. SHOP CIRCULATE is slated for release in the fall of 2021.
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What Makes This Trend Stand Out
- Black-owned Business Platforms
- Entrepreneurs can explore the potential of creating curated online retail platforms dedicated to the promotion of black-owned businesses.
- Wealth Gap Closing
- New technology solutions can be developed to help close the wealth gap in America by empowering black entrepreneurs with the tools and exposure to successfully compete in the marketplace.
- Community-driven Retail
- A new business model can be explored in which digital communities can be integrated into online retail platforms to promote community-driven retail.
Sectors Adopting This
- E-commerce
- E-commerce companies can explore new opportunities to promote black-owned businesses and develop tools to enable their financial growth.
- Consulting
- Consulting firms can provide advisory services to the new entrepreneurs in the black-owned business space and support them with necessary digital tools.
- Digital Marketing
- Digital marketing agencies can offer their services to black-owned businesses to increase exposure and effectively compete in the digital marketplace.
