U.S. Black Chambers, Inc.
June 4, 2025
A groundbreaking national study found that when Black-owned brands lead with their identity and market themselves as certified Black-owned businesses, consumer likelihood to purchase their products rose as much as 30%. The research also found that half of Americans were willing to pay a premium for products from Black-owned businesses when those businesses donned a seal certifying that ByBlack, a national directory and certifying body, had reviewed and vetted their business. Released by the Fund for Social Equity and ByBlack, powered by the U.S. Black Chambers, Inc. (USBC), the data show that consumers across various political and geographic backgrounds consistently maintain a deep interest in closing the racial wealth gap through their spending choices.
This study comes at a pivotal moment, as various major companies roll back their Diversity, Equity, and Inclusion (DEI) initiatives on store shelves, supply chains, and business operations. Amid opposing public perceptions of their importance, this research provides empirical evidence that consumers actively support Black-owned businesses when given clear indicators of their identity and impact. As partners, FSE and ByBlack designed a seal that helped consumers understand how buying Black created “Prosperity for the Next Generation.” This market differentiator drove 85% of Americans to say they were neutral to positive of the idea. This seal and data solidify our belief that now is an important time to lean into certified Black businesses as economic drivers for retailers and consumer facing brands.
ByBlack is the nation’s first national certification and directory exclusively for Black-owned businesses, offering increased visibility, credibility, and access to new opportunities through its certification process. The Prosperity Seal is an extension of this mission, ensuring consumers can easily identify and support Black-owned businesses that contribute to closing the racial wealth gap. The platform is a vital tool in addressing systemic barriers Black businesses face, providing them with access to contracting opportunities and facilitating economic empowerment.
Key Findings
- Purchase Intent: 50% of Americans responded positively to the concept of a seal identifying Black-owned businesses as contributors to family prosperity.
- Willingness to Pay More: Nearly half (48%) of consumers are willing to pay a premium for products displaying “ByBlack: Certified Prosperity for the Next Generation” seal.
- Category Impact: The strongest consumer interest was found in health, beauty, and apparel sectors.
- Regional Appeal: Major metropolitan markets—including Dallas, Houston, Philadelphia, Oakland, and Washington, D.C.—demonstrated the highest engagement with the certification.
“The data speaks volumes. Across three waves of research over multiple years, we see a consistent willingness from consumers to support Black-owned businesses when their authenticity is affirmed,” said Mark Koide, co-founder of the Fund for Social Equity and veteran marketer. “This presents an undeniable opportunity for Black entrepreneurs to strengthen their position in both physical retail and e-commerce spaces.”
Addressing the Growing Racial Wealth Gap
The study’s findings align with broader economic disparities. According to the Federal Reserve, the racial wealth gap in the U.S. continues to widen, with the median net worth of Black households at $307,000 compared to $1.3 million for white households. The Fund for Social Equity is committed to addressing this disparity through innovative certification strategies that empower Black-owned businesses and encourage consumer participation in wealth-building solutions.
“We know that economic empowerment is a critical driver for closing the racial wealth gap,” said Tiffany Murphy, Head of Marketing & Media at U.S. Black Chambers, Inc. “This data affirms that buying Black is not a fad. Consumers innately get the value that their dollars can drive in ending forms of economic inequality. And it’s clear, the hunger for Black businesses is consistent and unmet when it comes to consumer demand. ”
Consumer Insights and Market Trends
The study tested six different certification logos across 12 product categories to gauge consumer sentiment. Health and beauty, along with clothing and apparel, emerged as the most promising categories. Additionally, Millennials, Black consumers, and Democrats showed the highest levels of support for Black-owned businesses when presented with the certification.
Click the button below for a full summary of the study, and visit fundforsocialequity.org/#research for additional insights.