On what is normally a payday for many Americans, millions are being asked to not spend a dime as part a nationwide boycott against major companies and banks.
The “Economic Blackout,” organized by the non-partisan grassroots organization The People’s Union USA, encouraged American shoppers to keep their wallets closed for 24 hours on February 28.
The organization's website states the buying boycott is to show major corporations and banks “who really holds the power.”
“If we disrupt the economy for just ONE day, it sends a powerful message,” the website reads.
Participants are asked to avoid shopping online or in stores, whether for food or gas. They made an exception for essential spending and small businesses.
The movement gained quite a bit of traction.
"I've locked my cards up already. I'm not spending any money at all, " Said Brooklyn Kimmel, a student at Clark Atalanta University.
" We realize the cycle is they get their money from people like us who give them the ability to utilize our dollars,” said activist Rio Antone. “Take it back."
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Marshal Cohen, chief retail analyst at Circana, a market research and technology company, said national boycotts have some impact.
“They make more noise than they create downturn in retail results. But when they're localized or when they're very specific to a retailer, sometimes they make a little bit of an impact,” Cohen told Scripps News.
But he added that one-off boycotts like the economic blackout may not have a huge economic impact on their own.
“When you have a series of these or they last for a period of time, like we've seen in some of the other boycotts where people stopped buying the brand for a month, that's when it really hurts,” Cohen said.
John Schwarz, founder of the People’s Union USA, said in a video on Instagram that he noticed people were still shopping on Friday morning, but noted that the parking lot of his local Walmart was emptier than usual.
"Not everyone's going to be onboard, but my Walmart is definitely a lot quieter this morning"
Schwarz in another video said he didn’t expect this boycott to have a major impact on the economy.
“Will it really affect the economy much? Probably not. And we know that,” Schwarz says, before outlining the objectives of the boycott.
“It’s about giving us an opportunity to unite. So many people say they want to take part in something. Well, this is the easiest way to ever have to do it. You don’t have to do anything. You don’t have to go anywhere. And don’t spend any money.”
Cohen said retail boycotts like the economic blackout is “more about bringing attention than it is ultimately about hitting the retailer or the brand in their pocket.”
The People's Union USA called Friday's boycott the "first domino" in a chain of actions to come. The group has planned more boycotts in March and April including week-long boycotts targeting Amazon, Nestle, Walmart, and General Mills. Schwarz said he believes this is where companies will “feel the financial strain from our resistance.”
