Beyoncé rebranded herself through her highly publicized tour – not just as a global cultural icon, but as a magnate whose brand output perseveres in spite of the odds. The entire tour itself transcended borders and sparked a global conversation about the economic clout of Black women. The glittery tour’s economic impact has since been dubbed the ‘Beyoncé Bump,’ according to Yelp’s Economic Coverage.
For many Black women who are entrepreneurs in their own right, the Beyoncé Bump is relevant too, because Black women have become compelling consumers and economic powerhouses, whose interests, ownership and stake in brand loyalty collectively revive consumer markets across industries.
Beyoncé’s Renaissance world tour came to a close on Sunday, and in succession, she posted a clip to her Instagram page announcing that the Renaissance concert film would be on the big screen on December 1.
When Beyoncé released Renaissance last summer, fans were curious, but gravitated toward anthems like “Break My Soul,” for its surprising relatability and lyrics like “work by nine, then off past five, and they work my nerves that’s why I cannot sleep at night.” Sonically, the 16-track body of work was unlike anything fans had heard from the “Dangerously In Love” singer.
But for many it worked, so when she officially announced The Renaissance World Tour, music lovers were even more intrigued, and what ensued would be a celebration of versatility, silver chrome and an unapologetic ode to the other. From Vogue-inspired choreography to what would be a summer that rebranded the silver palette in the consumer market, Beyoncé proved, yet again, why she is one of the most applauded —and marketable—music creators of this generation.
Historically, Black women have faced economic uphill battles in corporate spaces, but also as consumers, however, in the past decade, economic giants have begun to notice, and tap into their buying power. In many ways, Black women, who were often overlooked by consumer brands, have emerged as a formidable economic force, driving trends and shaping industries across the globe.
It is this same principle that Beyoncé harnessed the Renaissance World Tour on, raking in upwards of $179 million in a single month, according to Billboard. By the end of the tour, Beyoncé would have contributed about $4.5 billion to the American economy, a figure comparable to the economic impact of the 2008 Olympics on Beijing – according to the New York Times.
The Renaissance World Tour was nothing short of a spectacle. From the moment the curtains lifted to the alluring costumes, the On Mute Challenge and Blue Ivy cameos, the audience was treated to a visual and auditory feast. But amidst the dazzling lights and electrifying performances, there was a deeper message at play. Beyoncé strategically infuses themes of empowerment, self-love, and unity into every show, and the results, as documented by fans on social media, have been palpable.
When the mother of three released her sixth studio album Lemonade in 2016, it became a polarizing body of work for many people, because it was the first time the Houston native explicitly delved into the emblems of Blackness and most especially, Black womanhood. Her politically-charged performance of “Formation” on Super Bowl Sunday, further set the internet into a tailspin, as humorously captured by Saturday Night Live.
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