Economic Boycott Aims to Challenge Corporate Price Hikes on Feb 28

NEW YORK, NY — A growing movement on social media is promoting a nationwide economic protest dubbed the “Feb 28 Economic Blackout.” Organizers are urging American consumers to refrain from making purchases at major retailers on Friday, February 28, in response to rising costs in essentials like food, gas, and housing.

The protest is spearheaded by The People's Union USA, a grassroots organization founded by John Schwarz, a 57-year-old from Queens, New York. Schwarz, who has been rallying support through social media, describes the group as politically unaffiliated but focused on “fairness, economic justice, and real systemic change.” He stated, “For our entire lives, they have told us we have no choice … that we have to accept these insane prices, the corporate greed, the billionaire tax breaks, all while we struggle to just to get by.”

Schwarz defined the objective of the blackout in a post on Instagram, declaring, “February 28, the 24-hour economic blackout: no Amazon, no Walmart, no fast food, no gas, not a single unnecessary dollar spent … for one day, we are going to finally turn the tables.” The movement has garnered backing from public figures like actors John Leguizamo, Stephen King, and Bette Midler, who have shared the event on their platforms.

According to the official messaging from The People’s Union, the boycott extends to all major retailers. An email campaign outlines that the initiative starts at 12 a.m. on February 28 and lasts until 11:59 p.m. on the same day, calling for consumers to halt all purchases.

“If you have automatic payments linked up to your bank account, of course, we’re not talking about disrupting your life,” Schwarz said in a video message. “But do not go out and shop at any big, major store — if you have to, go to the local pizza place, the small local boutique.”

Consumer spending forms a crucial pillar of the U.S. economy, accounting for nearly 70% of the Gross Domestic Product (GDP), according to the Federal Reserve Bank of St. Louis. However, experts express skepticism about the effectiveness of a one-day spending freeze on major corporations.

Critics like Kevin Thompson, CEO of 9i Capital Group, have cautioned that such a brief halt in spending is unlikely to significantly affect the broader financial landscape. “A lot of people dismiss the idea, arguing that a one-day spending freeze won’t move the needle for major corporations or the broader financial system — and I agree; it’ll likely have a minimal direct impact,” Thompson said. Nevertheless, he acknowledged that the economic blackout could catalyze similar events across the U.S.

The People’s Union is already planning subsequent protests, aiming to drive targeted boycotts against specific retailers, including a planned event from March 7 to March 14, focused on Amazon.

Schwarz remains optimistic. “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.