Economic Blackout: Initial Data Mixed as Targeted Boycotts Gain Momentum

The economic impact of the February 28th consumer "economic blackout," a one-day event where participants were encouraged to abstain from spending, is beginning to be assessed as data trickles in from various sources. This event coincides with a surge in planned boycotts targeting specific retailers, including a 40-day fast against Target commencing Wednesday and a week-long Amazon boycott scheduled to begin Friday.

The fundamental premise of the February 28th event was simple: consumers would refrain from spending money at any establishment for a single day. If spending was unavoidable, participants were urged to prioritize local businesses. However, quantifying the economic effect of such a fleeting action with hard data presents a significant challenge.

Despite the difficulty, preliminary data from multiple firms provides a nuanced picture. Some indicators suggest a potential impact on both in-person and e-commerce traffic for certain retailers, while others reveal that Amazon sales remained relatively stable, even experiencing a slight increase according to one metric.

Amazon’s Resilience: A Drop in the Bucket?

Momentum Commerce, a digital retail consultancy, analyzed Amazon sales data and concluded that the one-day boycott did not produce a measurable deviation from typical Friday sales figures. In fact, the firm’s analysis of its client base on Amazon U.S. showed a 1% increase in sales compared to the average of the previous eight Fridays.

"The minimal impact on Amazon sales during the one-day boycott isn’t surprising," Momentum Commerce CEO John T. Shea told USA TODAY. He emphasized Amazon’s sheer scale, stating, "Just in the US, Amazon rakes in north of $1 billion in retail sales every single day, making it naturally resilient particularly when it comes to short-term disruptions."

While acknowledging the upcoming week-long Amazon-specific boycott organized by The Peoples Union, Shea expressed skepticism about its potential for a "significant, broad effect," based on the data from the February 28th event. He also pointed to Amazon’s upcoming Big Spring Sale, scheduled to begin March 25th, as a potential buffer, noting that the event generated a 6% year-over-year increase in sales in 2024.

Broader E-Commerce Trends: A Mild Impact?

Similarweb, a digital marketing intelligence company, employed a broader approach, analyzing e-commerce traffic across several major retailers, including Amazon, Walmart, Target, Costco, Kroger, and Home Depot. The firm compared online traffic on February 28th to previous weeks and to the corresponding Friday of the previous year.

Furthermore, Similarweb examined traffic across the top 100 e-commerce sites, discovering an overall decrease of 6% on February 28th compared to the same day last year. When compared to the Friday preceding the blackout, traffic was down by 4% in aggregate.

"There was a slight impact year over year," Similarweb principal data-driven equity analyst Aria Ertefaie told USA TODAY. "I wouldn’t necessarily call it a huge impact since negative 6% is not unheard of, but it is still a weakness." Ertefaie characterized the February 28th action as a "mild impact."

In-Store Traffic: Difficult to Isolate the Boycott’s Influence

Placer.ai, a firm that utilizes a panel of tens of millions of devices and machine learning to estimate in-store visits, provided a different perspective. Their data indicated that many retailers experienced year-over-year declines in weekly visits throughout February 2025, a trend attributed to factors such as post-holiday spending pullbacks, decreased consumer confidence, economic and tariff uncertainty, and unusually cold weather.

"Placer.ai’s data reveals that many retailers experienced year-over-year declines in weekly visits throughout February 2025, driven by post-holiday spending pullbacks, decreased consumer confidence, economic and tariff uncertainty, and unseasonably cold weather," R.J. Hottovy, head of analytical research at Placer.ai told USA TODAY. "While Economic Blackout day on February 28, 2025, may have been influenced by these factors, its specific impact is difficult to isolate, as most retailers saw year-over-year declines in line with recent weekly trends.”

The company suggests that the prevailing economic conditions and seasonal factors make it challenging to definitively attribute any specific decline in in-store visits on February 28th solely to the boycott.

Retailer Responses and External Factors

Neither Amazon nor Target responded to requests for comment regarding the February 28th economic blackout or the ongoing boycotts. A Walmart spokesperson declined to comment.

However, Target, a frequent target of boycotts, disclosed during its recent earnings call that its sales declined in February. CEO Brian Cornell also mentioned in an interview with CNBC that President Donald Trump’s tariffs on Mexico, which took effect on the same day as the blackout, could potentially force the company to increase prices on fruits and vegetables.

Social Media Influence: The Role of Bots and Disinformation

The February 28th economic boycott gained considerable traction on social media, but some evidence suggests that the effort may have been amplified by social media bots.

Cyabra, an AI disinformation detection platform, identified 391 fake profiles on X (formerly Twitter) promoting the boycott using the hashtag #EconomicBlackout, with #BoycottWalmart, #BoycottTarget, and #BoycottBestBuy being the primary targets.

According to Cyabra, these bots influenced real accounts, with content shared by fake profiles reaching 5.33 million views. As the number of participating accounts grew, other social media users, both real and fake, joined the conversation using the same hashtags, often expressing grievances related to the companies’ DEI policies.

"The presence of fake profiles in this discourse was particularly concerning, as those coordinated accounts often seek to incite anger and confusion and create polarization," the company told USA TODAY. Cyabra highlighted the increasing sophistication of fake accounts, making them more difficult to identify and posing a greater challenge for brands attempting to manage the crisis.

Broader Boycott Landscape and Future Actions

The February 28th boycott is just one piece of a larger puzzle, with numerous planned boycotts targeting specific companies and issues. A national boycott of Target, initiated on February 1st to coincide with Black History Month, was launched by civil rights activists in Minneapolis who were critical of Target’s rollback of its DEI programs. Comedian and actress Leslie Jones has also outlined a year-long boycott on Instagram, encouraging consumers to support Black-owned businesses and plan protests against Amazon, Target, and Walmart.

Members of the Black faith community are also participating in a 40-day fast or boycott of Target, starting on Ash Wednesday, March 5th, in response to the company’s shift away from DEI initiatives. The Latino community has similarly mobilized on social media using the hashtag #LatinoFreeze, urging supporters to "hold your money" due to concerns about DEI initiatives, reduced funding for the National Institutes of Health, and immigration policies. This movement encourages Latino Americans to prioritize essential purchases and support Latino American, Black American, and Allied American businesses that align with their values.

In contrast, Rev. Al Sharpton and the National Action Network have organized "buy-cotts" to encourage supporters to spend money at Costco in support of the company’s board of directors, which rejected a proposal to eliminate DEI initiatives. The National Action Network has also announced plans for a "strategic boycott" of two companies that have abandoned their DEI commitments under public pressure, although specific details have not yet been released.

The Peoples Union USA, the organization responsible for the February 28th one-day blackout, has expanded its boycott efforts to include various companies and retailers over different time periods, including Amazon (March 7-14), Nestle (March 21-28), Walmart (April 7-14), and a second broader one-day economic blackout on April 18th.

Boycotts: A Powerful Tool with Variable Outcomes

The effectiveness of boycotts is often mixed. While conservative activists have successfully leveraged boycotts to pressure retailers and companies to curtail their DEI efforts, academic research suggests that boycotts do not always achieve their desired outcomes. The success of a boycott often depends on factors such as clear demands, widespread participation, and the ability to generate negative publicity that damages the company’s reputation. Ultimately, boycotts represent a form of consumer activism, allowing individuals to express their values and exert pressure on companies to align with their beliefs.