(RTTNews) – Facebook announced #BuyBlack Friday in the US, aiming to celebrate and support small Black-owned businesses and their communities in the upcoming holiday season.
The initiative is part of a three-month long Season of Support that was launched to provide free resources, education and training to help businesses across the world.
Starting October 30, the social media giant will introduce features in the Facebook app that encourage people to create posts supporting Black-owned businesses.
In a blog post, Sheryl Sandberg, Chief Operating Officer, said, “Black-owned businesses have been hit especially hard by the pandemic, closing at twice the rate of other small businesses. But we know that millions of people want to help. More than 3.5 million people on Facebook in the US have joined new groups created to support Black-owned businesses since March.”
Regarding #BuyBlack Friday, the company said it will offer interested businesses a toolkit to get involved, so they can amplify #BuyBlack through their own channels.
The company is also planning a range of events and resources within Facebook’s Lift Black Voices Hub and on the Facebook App Facebook Page. They include the #BuyBlack Friday Show, which will air live every Friday from October 30 to November 27. The show will feature Black businesses, musical artists and entertainers like stand-up comedian and New York Times best-selling writer and actress, Phoebe Robinson.
Later in October, Facebook will introduce The Facebook #BuyBlack Friday Gift Guide, which will showcase products from US Black-owned businesses across categories from beauty to home to fashion.
Further, Businesses Nearby tool will help people find local businesses, including those that have chosen to self-designate as Black-owned.
Facebook will also work with the US Black Chambers, an influential network of Black entrepreneurs, to encourage people to #BuyBlack over the holidays.
Many individuals and companies are coming forward to help struggling Black businesses and communities amid the worsening coronavirus pandemic.
Mastercard, Inc. in September had announced its commitment to invest $500 million for Black-owned businesses and Black communities over the next five years as part of its efforts to build a more inclusive global digital economy.
AT&T Inc. also had said it was on track to meet its commitment to spend $3 billion with U.S. Black-owned suppliers by the end of this year.
In September, R&B songstress Alicia Keys teamed up with the NFL to launch a $1 billion endowment fund aimed at supporting Black businesses and communities.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.