Every dollar spent with a Black-owned business has the potential to uplift neighborhoods, create jobs, and narrow the wealth gap. Our businesses reflect the vibrant cultural identities of our communities; they play a critical role in addressing systemic economic disparities. As consumers, our purchasing power shifts economies and that impact is magnified during the holiday shopping season.
For many retail entrepreneurs, the holidays are a make-or-break opportunity to secure the bag for the year ahead. In 2023, November and December retail sales totaled $964.4 billion—a 7.5% increase from the previous year. If Black Friday is the Super Bowl for businesses, Cyber Monday is the Halftime Show.
While supporting businesses for and by us has always been essential, the challenges of today’s socio-political environment heighten the stakes. Rollbacks on DEI initiatives designed to level the playing field, has plummeted funding for Black-founded startups—with venture capital dropping by 71% in 2023 alone.
The assignment is understood. Black communities historically support our entrepreneurs. A 2023 Nielsen consumer report exemplifies this, revealing that Black consumers spent a staggering $8 billion on Black-owned beauty products, outpacing overall market growth. Even amid inflation, Black shoppers will search harder and pay more to champion Black entrepreneurs. But what happens when Black consumers show up, do our part, and businesses fall short?
The conversation about the complexities of loyalty, accountability, and expectations within the Black business ecosystem is a critical discussion for another day. For now, with the holiday season in full swing, we’re focused on how Black-owned businesses can help us help them.
5 Practical Strategies to Help Black-Owned Businesses Thrive This Holiday Season
1.Set Realistic Expectations
Small business entrepreneurs wear all the hats, serving as all things to all patrons. However, the temptation to promise the world often leads to overcommitment and under-delivery. Poor follow-through is rarely malicious—it’s usually rooted in a genuine desire to satisfy customers and exceed expectations.
The Solution: Your heart may fully intend to deliver big, but it’s better to set clear expectations upfront based on what you know you can achieve. If you exceed those expectations, all the better—but establishing a realistic baseline avoids disappointment and builds trust.
2.Prioritize Customer Appreciation
Most patrons of small businesses enter with reasonable expectations and plenty of grace. While no one expects Amazon-level service from their local “mom-and-pop” shop, customers do expect to feel appreciated, valued, and respected.
The Solution: A little appreciation goes a long way in building strong, lasting relationships and encouraging repeat business. Simple gestures like personalized thank-you notes, loyalty discounts, or a warm, genuine interaction at checkout let customers know you care.
3.Follow Up on Customer Concerns
As a small business owner, juggling it all can feel overwhelming, and sometimes addressing customer complaints might fall to the bottom of the list. However, resolving issues head-on creates stronger loyalty than problem-free interactions. Customers remember how you handle challenges, and those moments can turn into opportunities to build lasting trust.
The Solution: Treat complaints as a chance to show your care and commitment. Even with a small team (or no team), a sincere effort to address concerns can make customers feel heard and appreciated, transforming a potentially negative experience into a long-term relationship.
4.Deliver Quality Customer Service
We all want to look good for family gatherings and holiday parties, which means beauty services like lashes, makeup, hair, and nails are in high demand. Customers are booking appointments with high hopes, but many are having subpar experiences. Late appointments, bare-minimum services, and bad attitudes—can leave a lasting impression in the worst way.
The Solution: A little extra effort now can turn first-time clients into long-term advocates for your business. Amid the holiday rush chaos, remember that prioritizing excellent service during this season can create loyal customers for life. Professionalism, timeliness, and a welcoming attitude make your customers feel cared for and respected.
5.Levarage Socials to Create Real-Life Community
Customers want to feel like they’re part of something bigger. When people support your business, they’re often rooting for you personally, and engaging with them online can make that connection even stronger.
The Solution: A thoughtful shout-out or engaging post can turn patrons into loyal advocates. If they’re open to it, tag your customers on social media when they come in and support your businesses. Additionally, sharing your story—behind-the-scenes glimpses or posts about your mission- gives followers a deeper connection to your journey.
Supporting Black-owned businesses is more than a transaction—it’s an investment in community, culture, and progress. This holiday season, in a reciprocal exchange, we rally behind the vital enterprises that uplift and champion us. Together, we thrive.
