How much impact could a 24-hour “economic blackout” have?
How much impact could a 24-hour “economic blackout” have?
A heretofore little-known activist group, The People’s Union USA, has called for an “economic blackout” — a complete boycott of all consumer spending by Americans — on Friday.
The group, which describes itself as anticorporate and nonpartisan, urges consumers not to make any purchases online or in stores, using credit or debit cards, especially at major retailers. And if absolutely necessary, the group advises consumers to only buy essential items at local businesses.
The boycott call appears to have gained traction on social media. How much impact could it have?
People’s Union founder John Schwarz posted on Instagram that he doesn’t expect most Americans to boycott all retail Friday.
“The majority of them are still going to shop on this Friday. That’s not the point,” he said. “The point is that those who don’t are choosing to stand together” — and build momentum against big corporations and the politicians who support them.
“Lots of consumers will say they’re going to boycott,” said management professor Brayden King at Northwestern’s Kellogg School. “Very few consumers do.”
King also said that boycotts rarely have a lasting economic impact. “Even if, let’s say, 5% of consumers are going to boycott — that would be a huge number — they’ll probably, if they need to buy something, just go and do it the following day. And so it wouldn’t really show up in the revenue numbers.”
A national consumer boycott could still make a difference, per sociologist David S. Meyer at UC Irvine.
“It’s an opportunity to talk about a whole variety of grievances, and it gives people something to do,” he said.
And to get involved longer-term. “People who decide to boycott are more likely to call their Congressional representative, go out to a demonstration,” said Meyer.
And they’re likely to vote against politicians who back social and economic policies they don’t like.
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