Americans willing to pay more to bridge the racial wealth gap

In news that may be surprising to many, unprecedented national research released recently suggests that most Americans are willing to pay a premium price for products and services if they know that they are helping to reduce the racial wealth gap in the U.S.The study was cited by Fund for Social Equity, a new nonprofit that works to change the reality of the ongoing racial wealth gap through research-first, marketing-based solutions.That gap between Black and White households continues to widen in the U.S. and now stands at $44,890 and $285,010, respectively, according to the latest research from the Board of Governors of the Federal Reserve.Fund for Social Equity has tested a seal to identify businesses owned and operated by Blacks as a way to reduce the wealth disparity between Black and White Americans. 47 percent of all Americans surveyed definitely or probably would buy, and that rises to 78 percent among Black Americans, 77 percent were neutral to positive on the concept, and, Alienation (rejection of the concept) at 23 percent was low. “We approach the racial wealth gap with a marketing-first mindset and our research finds that nearly half of all Americans definitely or probably —top two boxes—would purchase...