THE NFL, NIKE, AMY SCHUMER AND THE POWER OF THE BLACK DOLLAR
Here we were, June 2017 and much of the internet was abuzz about one NFL player’s inability to make a pro team despite heralded success. That player was a young man named Colin Kaepernick. A former Super Bowl starter. A son of a multi-racial family. But to much of America, the man that kneeled during the national anthem in his last year with the NFL’s San Francisco 49ers in what he termed a protest of American police brutality. This article won’t dig into all the politics and divisiveness of that story - so if you want more of that, we won’t be mad if you leave the story now.
What we’re more interested in is the time between 2017 and today. A time in which several cultural moments have occurred. Here are the most notable:
Back in mid-2017, Nike (NKE) stock was priced as if it were going to lose its spot atop the athletic retail market to surging Adidas. Adidas success came not from sport but a realization that people buy sneakers as a way of demonstrating personal statements and that many of their buyers were African American.
The #MeToo movement hit a stride in American society and challenged our society’s way of thinking about equality amongst women in society and workplace. Black woman Tarana Burke is credited with beginning the movement.
The internet turns against Ray Lewis after making statements suggesting that Colin Kaepernick was wrong for his actions and should focus on playing football.
Laura Ingram of Fox News tells Lebron James to “shut up and dribble” and causes outrage amongst fans of sport - all colors, backgrounds, and culture.
Chicago police officer, Jason Van Dyke was convicted of second degree murder in the killing of Laquan McDonald - a conviction many trace back to early financial impact placed on Chicago’s most prominent businesses due to protests on Chicago’s Magnificent Mile.
Blackish, Insecure, Masters of None, Blackkklansman, and Atlanta hit mass appeal with politically challenging perspectives, pertinent to multi-cultural and LGBTQ communities.
We also learn from Nielsen’s Black Dollars Matter report that while African Americans make up just 14% of the population, we are responsible for some $1.2 trillion in purchases annually. More importantly the report suggests that black consumer spending significantly affects the bottom line in many categories and industries, and brands “can't afford to lose favor or traction with this segment without potential negative impact”. When combining this spend impact with 38% of African Americans between the ages of 18 and 34 and 41% of those aged 35 or older expecting the brands they buy to support social causes AND black consumers’ brand preferences becoming increasingly mainstream choices, hey, maybe it’s not a bad idea for Nike to make Colin Kaepernick the face of it’s newest Just Do It campaign.
As of late September of this year, Nike is basking in the financial glory that is “Being Woke”. To the tune of $6B attributed sales since the announcement of the new Colin campaign.
What we see here is that when black dollars are at stake, the narrative changes. We see the once quiet and apathetic members of our society say “hey, I think it’s safe and maybe even cool for me to be vocal about not being an asshole”. Or even - “Hey corporate America - even though I’m not black - this audience is important to me and I’m not going to support you unless you support my audience - the one that keeps food on my plate”. Amy Schumer, Rihanna, Jay Z, and more have stepped out against the NFL for what they believe as unjust treatment of one particular athlete and failure to responsibly involve themselves in the matters of their most prominent customer and product - the black male American. But more importantly, as with Nike, we clearly see that by making these statements, there’s an increased chance for companies, entertainers, and more to get a piece of that $1.2T in annual black spending. Being socially conscious has never been more lucrative and that’s a good thing.
Whatever your stance on politics may be, which we don’t aim to interfere with, we write this piece to help us all understand that voting with our dollar is what impacts change. We all understand that above all else #Americanmoneymatters. The power in the choices we make, where we spend our dollars, who and what corporations we support, and how we leverage those decisions collectively to influence the direction we’d like this country to go, has never been more important, and honestly more accessible to a greater portion of American society. And to the point our friend Trevor Noah makes at Comedy Central - there has to be a careful balance in the weight you place on brand’s social stance but our dollars do have influence.
As you watch the NFL today and cheer for your favorite teams, players, and enjoy those commercials, remember the role it all plays in shaping equality and fairness in our world today. It’s not JUST ENTERTAINMENT.