Nike wants your black dollars
Black athletes made it cool to wear Nikes 30 years ago with the first pair of Jordans. Wearing Nikes meant you were cool it was a fashion statement, it was also a way to show support for your favorite players.
Today, things have changed. While Nike and other tennis shoes remain fashion statements.
Nike’s stance on social issues is becoming more of a priority. Is this causing more division or is it a good thing that corporations incorporate their stance on social issues on their products? At the end of the day however, Nike wants your black dollars.
Often black people struggle with the paradox of supporting black businesses.The ideology to support black businesses stems from the belief of recycling black dollars in black communities.
Some controversial reports state that the black dollar only lasts for 6 hours in a black community. While it lasts 28 and 19 days in the Asian and Jewish Community Respectively. Furthermore, recycling black dollars fills a void of building generational wealth in black communities. However, what happens when major brands adapt and advocate for causes that affect black people?
Locally black-owned brands have the advantage of resonating with their audience easier based on ideology. However, brands such as Nike have a 30 plus year head start, billions of dollars, and athletes who endorse their product.
What better way to attract black dollars than to appeal to social injustice issues? While hiring the most notorious sports activist athlete since Muhammed Ali.
Although Nike listened to Kaepernick and pulled its controversial Betsy ross shoe, why would it design it in the first place? Nike tried to capitalize on independence day sales with its American flag design.
I’m sure the intention was to lure back in their right-wing supporters who all but jumped ship since signing Kaepernick 10 months ago.
Today’s brands aren’t shying away from social issues. Making it clear which “side” you align with on social issues can rise or drop you stock at any point. Although Nike listened to Kaepernick it may have still revealed its true colors.
Our last article spoke on fake altruism when dealing with activist or even your average person. This extends to corporations also, after all, their people at the end of the day like you and me. Nike signing Kaepernick could be viewed as an altruistic signing that alienated longtime fans.
However, after the signing, their stock rose to record numbers. If altruism is the motive why design a shoe on the very thing Kaepernick stood up against the symbology of?
In an age where everyone is walking on eggshells for fear of losing employment for statements on social issues. Nike has managed to alienate loyal consumers, reaching record high stock values, while being altruistic at the same time. The goal of any business is obviously to make money but if a corporation can “appear” altruistic at the same time the better.
It’s always easy for the black community to be satisfied with less when it comes to politics. Our standards for material things are well above our standards for justice and political power. Do we have the patience and vision for generational support of black business beyond barber shops and soul food restaurants?.
In conclusion,We can applaud brands such as Nike for advocating on our behalf while being fully aware it’s a business/profit decision at the end of the day. Maintaining this balance in thought will be crucial in determining the future wealth of black communities.Just remember, nike wants your black dollars.
Whats your opinion? Is Nike signing Kaepernick fake altruism or does nike truly support what Kaepernick stands for? Let us know your thoughts in the comment section below.