What to Know About the February 28 ‘Economic Blackout’
Our wallets are tired.
Costs continue to rise across the board. Groceries, insurance, rent and more have skyrocketed over the past few years. Inflation is creeping up again.
With the goal of protesting rising costs and corporate greed, a movement to boycott major retailers for one day is sweeping social media.
This nationwide economic blackout is set for Friday, February 28. Here’s what you need to know about the movement.
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What Is an Economic Blackout, Exactly?
It’s an economic protest, usually sponsored by an organization, urging people to avoid spending money on a specific day.
This particular protest is sponsored by the nonpartisan The People’s Union USA, its goal to restore “fairness, economic justice and real systemic change” through “government accountability and corporate reform,” according to the website.
The organization is urging people to avoid shopping online or in-store for non-essential items on February 28. It’s also asking consumers not to spend money on fast food, gas or major retailers like Amazon and Walmart.
As for essential purchases like food, emergency supplies and medicine, The People’s Union USA suggests consumers buy from small businesses.
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When Does The Economic Blackout Start?
It starts at midnight February 28 and ends 11:59 p.m. the same day.
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What Is the Reason for the Economic Blackout?
The call to action comes as Americans continue to endure rising prices across the board. The price of eggs, for instance, averaged $4.95 a dozen in January, up 15% from the month prior.
Meanwhile, companies have also abandoned diversity, equity and inclusion initiatives as President Donald Trump has taken aim at the policies through executive order. Many have called for specific boycotts of companies like Target, Ford, Meta, McDonald’s and more that have ended their DEI programs.
Official messaging from The People’s Union USA, however, says the focus of the protest is to enact broader economic change through boycotting all major retailers.
“If we disrupt the economy for just ONE day, it sends a powerful message,” The People’s Union USA wrote on its website.
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Could the Economic Blackout Make a Difference?
Some have argued that a one-day spending freeze probably won’t move the needle for big corporations, but The People’s Union USA founder John Schwarz asserts otherwise.
“If a million people on the 28th do not spend a dime, you might not think out of 360 million people in this country that’s a lot, but a million people all on one day not spending their money, that is a hit,” he said in a video on his Instagram account.
The organization is also sponsoring other 24-hour economic protests on March 28 and April 18. Other retail-specific blackouts are planned through the spring.
Katie Sartoris is the managing editor at The Penny Hoarder. She is an award-winning journalist with a decade of reporting and editing experience in the industry. She joined the Penny Hoarder from Gannett, where she was a local news editor in Central Florida.
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Katie Sartoris is the managing editor at The Penny Hoarder. She is an award-winning journalist with a decade of reporting and editing experience in the industry. She joined the Penny Hoarder from Gannett, where she was a local news editor in Central Florida.
