To fully explore the relationship between the Latino community in the US and Black Friday, we must begin by learning about the origins of this date. Although there are several theories regarding the events leading to the creation of Black Friday and when it took place, the most widely accepted one has been reported in the Telegraph. This newspaper indicates that this practice originated in Philadelphia in the late 1950s and early 60s. At the time, there was a classic football game between the Army and the Navy on the Saturday following Thanksgiving Day. The city’s businesses announced huge sales on the previous Friday, attracting a multitude of people crowding the streets and stores. The policemen were forced to work long hours to keep the peace and were not able to go to the game, and it came to be remembered as “Black Friday.”
Over the years, it became a tradition on that day and one that has spread across the nation, as well as to the entire world hand in hand with digitization. Nowadays, marketplaces offer huge discounts for digital shoppers several days prior to, during, and after the long-awaited Black Friday.
What role do the Latino community and its businesses play on Black Friday? In order to answer that we must first understand the importance of the Latino community in the United States. According to the official census, in January 2022 the Latin American community was the largest minority in the US, representing 18.7% of the total population. This number is expected to rise to 30% by 2050 according to a study from Stanford University. According to that same study, by that same year, Latino businesses are expected to pour an unbelievable nearly $1.5 trillion into the country’s Gross Domestic Product.
By 2022, that same Stanford study indicated that small Latino businesses in the US had grown at a rate of 34% during the previous ten years, while other small businesses had only grown 1%.
With this information in mind, the next challenge faced by Latino businesses and those of other minorities is their digitization: to be able to offer their products online and capture new clients, including many outside their own segments and not only for Black Friday. This is where ShapYa comes in as a key player performing a crucial role in closing the digital gap, offering five essential tools for Latino and other minority business owners to reach new markets:
1. Landing Page: This is the first tool to create your online presence with your business’s name, logo, and color scheme, as well as a preview of your products.
2. Marketplace: Together with the landing page, this allows businesses to list their products and sell them online, facilitating online payments and reaching new customers.
3. Customized Mobile App: Using your business’s colors and logo, it also provides a wallet to create rewards programs for your clients. This app is available on Google and Apple app stores.
4. Dashboard: This allows you to track your orders, create and assign delivery staff, update the list of products offered digitally, and create promo codes, among other features.
5. Participation in the ShapYa Marketplace: Be a part of our powerful mobile app together with all the businesses that have placed their trust in us. ShapYa translates each business’s product list into English and Spanish.
Businesses such as markets and restaurants can sell their traditional products online with these tools and reach a much wider audience. For example:
- For markets: Offer ingredients for Thanksgiving Day recipes, like tropical salads with mango, avocado, onions, and a splash of lemon juice.
- For restaurants: Provide entrees for sharing, like flautas, tacos, picadas, or tequeños, accompanied by traditional Latino sauces made with chiles, pineapple, mango, and tamarind, and served with a variety of cheese from Latin American cuisine. They’re great as delicious appetizers!
The potential for businesses in the Latino community in the United States is unimaginable, not only on special days like Black Friday. ShapYa is uniquely positioned as a strategic ally to conquer the digital market, an area where the huge traditional digital stakeholders have been unable to grasp the needs of Latino business owners. And ShapYa has a huge advantage by being a part of the community and providing the perfect cultural fit.