Target is doubling down on the company’s commitment to invest more than $2 billion in Black-owned businesses by the end of 2025. YPulse has explored how important representation is to next generation consumers, and that a brand’s diversity and inclusion efforts (or lack of) have a direct impact on young consumers’ product choices. As part of their effort to invest in racial equity, Target recently introduced the Roundel Media Fund, which will “award more than $25 million in paid media to diverse-owned and -founded brands.” Typical paid media programs with Target costs around $50K, but participants in the Roundel Media Fund will have access to the same benefits but for a fraction of the price—only $5K. Retailers are being asked to take concrete action to support Black-owned businesses, and the fund will help “BIPOC brands pay for marketing programs at Target, addressing one of the ways that systemic racism affects such brands.” (MarketingDive)
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