How Black Businesses Can Carry Some Holiday Cheer Into 2019

With less than a week until Christmas, retailers are prepared for the last-minute shoppers. Consumers looking at their list and checking it twice may find bargains they didn’t expect especially as retailers continue promotions to attract those still searching for the perfect gift.

Jeweler Mark Anthony hopes his online presence will reach the shopper who wants to gift some bling.

“I was looking at my figures…five years ago, and in December, I would make about 40k,” says Anthony. “Now, that is cut in half. It was a 50 percent cut, but it’s because of foot traffic. A lot of consumers aren’t going to the mall like they used to; they’re doing a lot of online shopping.”

Anthony is facing a dilemma experienced by many retailers.

He says, “My online presence is the backbone of my business now. Next day shipping makes the consumer look at the business and ask, ‘Do you offer shipping?’ And, I have to offer free shipping to even compete with other retailers.”

Anthony started his jewelry business, Mark Anthony Collections, more than 30 years ago before online shopping became a viable option. He’s built a following providing custom jewelry designs and other accessories that includes famous customers like BeBe Winans , Jonathan Butler , Joe , Alex Buyon , and Margaret Bell  to name a few. A roster of well-known names helps with advertising which is key to the success of any business.

Ron Busby , President of the U.S. Black Chambers of Commerce, says, “We do heavy marketing during the Christmas season because we think it brings in the consumers, but we need to market consistently.”

Unlike Anthony who is considering relocating his business from the mall to a cultural and entertainment area in St. Louis, Busby cites a lack of African American storefronts as one of the challenges to supporting Black businesses.

“We often see Black products when we attend events,” Busby says. “We don’t see Black-owned businesses as much as we did five years ago. Now, a Black-owned business needs a strong online presence for us to find it because we don’t have as many Black-owned stores.”

Overall, the retail industry is having a successful holiday season this year. Holiday receipts are up with Kiplinger’s forecasting a 4.8 percent increase, over the decade. And, Black-owned businesses may enjoy the same.

According to Busby, “We are looking for cultural gifts and products during the Christmas season. We will go out and buy a Black doll and give it to a daughter. We need products and services that African Americans need to buy all year. We will then need to market it consistently because African Americans buy products year long.”

And, it’s what happens after the sleigh bells that will help determine the future health of a business. For the business owner looking for expansion and growth in 2019, Busby suggests considering mergers, acquisitions and consortiums.

“When I say this, we should look outside out current backyards and look at potentially, where it makes sense, merging with minority and majority firms and becoming a majority owner of a larger firm,” he explains. “We have to look at corporate America’s requirements as well as the federal governments and many of the concerns they have around doing business with black businesses is size and scale. And, we need to address it in as many forms and facets as possible.”

For Anthony, the new year will bring an opportunity to find a home for his business in a district with a steady customer base. He describes this year as one of the worse he has seen, but he is optimistic.

He says, “I’m going to refocus and regroup” in 2019.