Comprehensive results are in for the “Economic Blackout” that occurred on Friday, February 28. The consumer protest called for a full-day freeze on economic activity, encouraging consumers to refrain from all shopping and spending for 24 hours. At first glance, the market response seems muted. But a closer look shows that certain consumer groups, especially Black shoppers, mobilized in measurable and meaningful ways, demonstrating the growing power of coordinated, values-driven (in)action at the checkout line.
Economic Blackout Results
On the day of the Economic Blackout, we observed a dip in shopping activity across channels and categories. Fewer households made purchases, and both sales and trips were down versus the average Friday. However, at a total market level, these changes generally fell within the range of typical week-to-week variation and were not statistically significant. A few notes about our analysis approach:
- Why compare to the average Friday? Shopping behavior tends to follow predictable weekly rhythms, with activity increasing over the weekend. Friday-to-Friday comparisons help control for daily variation and provide a more accurate read on real behavioral shifts.
- Why call out statistical significance? Even with daily controls in place, some fluctuation is expected. Statistical significance helps us tell whether a change is part of normal ups and downs, or if it’s likely driven by an outside event like the Economic Blackout. In this case, the method we used allows us to say with 95% confidence that any changes are a result of outside forces and not normal variation
- Any other methodology specifications? Averages are based on the past year, excluding Fridays during the holiday season (Thanksgiving through Christmas), as those tend to be abnormally high and not reflective of typical spending patterns.
Market-Wide Impacts
Across all retailers and channels—FMCG, Online, Restaurants and more—household penetration was down by two percentage points compared to an average Friday. Sales fell 5.4%, and shopping trips were down 4.1%. While noticeable, these dips didn’t meet the threshold for statistical significance. It’s worth noting that the Blackout encouraged essential purchases to be made locally if necessary, which may have dampened the impact. Also, about 69% of U.S. households typically shop on any given Friday, so for the other 31%, “participation” wouldn’t require a change in their shopping habits, making it more difficult to measure.
Retailer-Level Impacts
The Blackout’s effects were more visible at select retailers—namely Amazon, Target and Walmart—where household penetration dropped by 2.2 percentage points from 24.9% to 22.7%. This was a statistically significant decline, suggesting influence beyond standard week-to-week variation. Sales at these retailers fell by 6.2% and trips declined by 7.5%. While those drops did not quite hit the significance threshold, they were notably steeper than the total market declines. According to a Numerator survey fielded the night before the Blackout, these three retailers were the most likely to be targeted by participating consumers.
Stronger Participation Among Select Consumer Groups
Although overall shifts were modest, certain consumer segments demonstrated a more substantial pullback aligned to the Economic Blackout. Among Black shoppers, relative penetration across all channels & retailers dropped 10.1 points, with sales down 18.7% and trips down 17.6%. Black households collectively spent fewer than $1B the Friday of the Blackout—a drop of more than $220 million and the only time that’s occurred in the past year. At Amazon, Target and Walmart, penetration among Black shoppers fell 6.6 points, with a 24.9% sales drop and 27% fewer trips. All changes among Black shoppers were statistically significant.
Consumers who express strong support for corporate causes centered on diversity, equality and social justice showed similar patterns. LGBTQ+ shoppers also registered statistically significant changes, with a 4.7 point drop in penetration at a total market level. Gen Z and Hispanic shoppers reported higher-than-average intent to participate in the pre-survey, and while they did show declines, their shifts weren’t as pronounced as those of Black, LGBTQ+ or social justice-focused consumers. The ability to segment by consumer group offers deeper insights into the effectiveness and reach of consumer-led protests.
Spending Shifts Driven by Economic Blackout
To avoid spending during the Economic Blackout, 47% of intended participants made purchases in the days leading up to February 28 and 20% planned to delay purchases until after the Blackout, according to our pre-survey. These timing shifts were evident in the purchase data, with elevated shopping activity on the surrounding Thursday and Saturday that ultimately balanced out the Friday declines. Even among Black shoppers, whose participation was most evident, total spending across Thursday through Saturday was down less than 1% compared to the typical three-day average.
Tracking Future Consumer Boycotts
Although February’s Economic Blackout didn’t deliver significant top-line sales losses, it showcased consumers’ ability to mobilize and coordinate collective action. The real story lies below the surface—disaggregating by demographic and attitudinal segments reveals meaningful behavioral shifts that may otherwise be missed in aggregate views.
As consumers increasingly use their wallets to voice their values through boycotts and “buycotts,” brands, manufacturers and retailers should be prepared to measure their exposure and impact. Verified buyer surveys, brand health tracking and post-event analyses are all strong starting points. If you’re ready to dig deeper, reach out to your Numerator representative or connect with our team to explore custom research opportunities.
