On Thursday, the Louisiana Daily Times published a report highlighting several new advertising strategies that are helping to increase black-owned businesses in the state.
The strategy is called “Black Friday.”
The Times reports that the strategy is being adopted in Louisiana, where the average sales price of a home in 2017 was $1,000, while the average price of an automobile was $22,000.
“There are many ways in which people can get to a new home,” said Charles Daley, vice president of communications for the Louisiana Association of Realtors.
“The average price for a home increased from $1.1 million in 2016 to $2.2 million in 2017, and the average for a vehicle increased from about $13,000 in 2016.”
We can get a home or vehicle for about $100 more,” he added.
Black-owned retailers, restaurants and other businesses are expected to continue to benefit as more businesses are opened up,” the newspaper said.”
In 2018, black-run businesses in Baton Rouge, New Orleans and Monroe had an average sales-price increase of nearly 50 per cent over the past year,” the Times said.
“Black-owned retailers, restaurants and other businesses are expected to continue to benefit as more businesses are opened up,” the newspaper said.
Daley said the strategy could also help black consumers.
“If we can create a space where consumers can go to shop, and if that shopping space has black people in it, then that can be a big positive,” he said.
The Louisiana Association for Realtor said it was aware of the report and is looking into the plan.
“This is the type of innovative marketing that helps boost the economy and job creation in the Louisiana economy,” association president and president of the Louisiana chapter of the National Association of Home Builders, James B. Daley Jr., said in a statement.
“As we work to strengthen the state’s black- and minority-owned housing markets, we encourage the association to continue exploring this new marketing approach.”
The association has not received any formal notice from the Louisiana legislature regarding the strategy.