New Study Sheds Light on Customer Expectations for Small Business Support of Black Lives Matter

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(Spin Digit Editorial):- Cleveland, Nov 12, 2020 (Issuewire.com) – While many large brands have expressed support for the Black Lives Matter (BLM) movement in recent months, smaller businesses have appeared to be more reluctant to take on this corporate responsibility despite African-American buying power increasing 114% (1.4 trillion in 2019), compared to an 89% increase in White buying power from 2000 to 2018, according to Nielsen.

A recent study by ColemanWick, a customer analytics firm, explored customer expectations and judgment toward small businesses that support the BLM movement and make diversity and inclusion priorities. Results from the survey of 269 respondents indicate that black consumers favorably view small companies who show support for BLM.

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“Companies are trying to make informed decisions surrounding this topic of Black Lives Matter, which is controversial to some,” explained Odell Coleman, Jr., Principal of ColemanWick. “The data from our survey proves that showing support for BLM and other social causes leads to higher levels of customer approval and loyalty. One of the ways this information could be used is by change agents within organizations to convince management that supporting BLM is the right thing to do, both from a personal and corporate perspective. Moreover, “

Significant findings from the survey include the following:
  69% of respondents were positively influenced by a company’s stance on BLM
  62.75% of respondents would buy something based on a company’s stance on BLM
  86% of respondents agree or strongly agree that the brand always treats everyone equally
  96% of respondents agree or strongly agree that the association with the brand is positive

For those interested in downloading the full infographic to access all of the data, they can visit
the ColemanWick website at www.colemanwick.com.

About ColemanWick: ColemanWick helps companies listen to their customers. They are a customer analytics firm that helps companies drive innovation as well as increase customer satisfaction and revenue by utilizing predictive, prescriptive, and descriptive analytics. To learn more, visit their website.

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This article was originally published by IssueWire. Read the original article here.