You have to respect a brand like Everlane. Though it’s mostly known for its selection of high quality basics at affordable prices, the online retailer has also built a reputation for being ethical, sustainable, and “radically transparent.” So it makes perfect sense that Everlane would take the hype surrounding Black Friday and use it to benefit a great cause.
It was in 2014 when Everlane decided to launch the Black Friday Fund—an initiative that took all the profits from the “biggest shopping day” and put them towards its silk factory in Hangzhou, China. This year, the retailer will continue the fund, but will instead give its profits to the Los Angeles factory workers, who will get on-sight health care, free groceries, and English classes.
“This is an opportunity to help people on Black Friday," Everlane CEO Michael Preysman told Fast Company. "The other piece of it is just to reflect on what it means to be consuming and buying gifts for people when there are others in the world that can benefit from our help. This is our way of finding balance in those two things."
In the past, Everlane would close down its website and opt out of Black Friday entirely, just like retailers such as REI decided to do this year; however, Preysman told Fast Companythat Everlane customers still wanted to shop and simply went elsewhere. So the store made the decision to stay open, but everything would be sold at full price and all the money would be donated.
“It's a way for us to be open and available for our customers while I think reinforcing the values that we stand for,” Preysman explained.
The retailer hopes to raise $100,000 this year, which is very possible considering the shift in attitudes towards Black Friday.
In a recent New York Times article, retail experts and economists explored the decline of this holiday shopping tradition, explaining that many consumers are disappointed with Black Friday deals, and would rather spend their money on something else.
“They’re spending more on experiences,” John J. Canally, chief economic strategist at LPL Research, told the NY Times. “A day at the spa, a baseball game, the ballet — rather than a sweater or a pair of socks that no one wants.”
And what better experience than giving back to those in need?
