The highly publicized “Economic Blackout” on February 28 did not ultimately make a major impact on retail sales and trips that day, but certain consumer groups, particularly Black and LGBTQ+ shoppers, demonstrated a significant spending change, according to new data from Numerator. The boycott, organized by grassroots organization The People’s Union USA, asked consumers to freeze spending for 24 hours. On February 28, which fell on a Friday, sales dropped 5.4%, and trips were down 4.1%, but compared to the average Friday, the changes were within the general variations typically seen from week to week, according to Numerator. Household penetration for Amazon, Target, and Walmart, dropped 2.2 percentage points, which Numerator did note was a “statistically significant decline, suggesting influence beyond standard week-to-week variation,” as sales at those retailers dropped 6.2% and trips fell 7.5%, larger than overall retail market impact. For Black shoppers, household penetration fell 10.1 points, sales dropped 18.7%, and trips declined 17.6%. At Amazon, Target, and Walmart, those declines were steeper—a 24.9% dip and 27% traffic drop. Overall, Black households spent under $1 billion on February 28, a $220 million decline, which Numerator noted was the only drop like that in the past year. These changes, Numerator noted, were “statistically significant.” Keep reading here.—EC |