A movement on social media is encouraging consumers to participate in an “economic blackout” by refraining from shopping at major retailers for 24 hours on Friday. This demonstration aims to showcase the economic power of individuals.
The concept of the economic blackout was introduced by John Schwarz, a Chicago influencer and meditation teacher known as “theonecalledjai” on Instagram and TikTok. Schwarz, who leads the People’s Union USA, a nonpartisan grassroots organization, posted videos calling for the boycott.
The boycott rapidly gained traction on social media and received support from influencers and celebrities. It commences at 12:01 a.m. on Friday and concludes at midnight.
Participants are encouraged to avoid purchasing from major retailers like Amazon, Walmart, and Best Buy. Instead, they should support local businesses when buying essentials such as food, medicine, and emergency supplies. Cash transactions are preferred over debit or credit cards.
The blackout is scheduled amidst a growing sense of pessimism regarding the economy. Recent data from the University of Michigan and The Conference Board indicates a significant decline in consumer sentiment in February.
While the impact of the blackout on the economy is uncertain, Schwarz remains optimistic about the movement’s potential. Following the one-day boycott, he plans to organize week-long boycotts of specific companies with the aim of exerting financial pressure.
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