Twenty percent of Black Americans start a business today, however only four percent of those get past the start-up phase. At the same time, 45 percent of US consumers— representing well over a hundred million shoppers—believe retailers should actively support Black-owned businesses and brands. This mismatch presents a huge opportunity to advance equity and drive inclusive economic growth in the retail sector. That's why our Consumer practice and the McKinsey Institute for Black Economic Mobility are teaming up with the New Voices Foundation to accelerate growth of Black-owned consumer product brands. Read more about our collaboration: https://mck.co/3PY9PgK #SustainableInclusiveGrowth
Suresh K.
10mo
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This is great! Collaborations like this are vital in empowering Black-owned consumer product brands and fostering an environment where they can flourish. Let's bridge the gap and create a more inclusive landscape that benefits entrepreneurs and consumers.