Target and Bud Light have lost a whopping $28 billion combined amid marketing decisions geared toward transgender individuals, according to a report from Fox Business.
Bud Light promoted transgender influencer Dylan Mulvaney for its March Madness contest, costing parent company Anheuser-Busch nearly $19 billion in fallout, Fox Business reported Friday. Shares are also down 14% amid the boycotts.
Target was forced to pull some of its LGBTQ-themed items that catered to transgender individuals, cutting off more than $9 billion in market value with shares down 12.6%, according to the outlet.
“These are both cases where brands have gotten in the middle of some really controversial issues,” Northwestern Kellog associate chair of marketing, Timothy Calkins, told Fox. “I think we’ll see more brands be very cautious about getting into the middle of some of these really controversial issues.”
WELL, THAT SHOULD BOOST THEIR STOCK PRICE: Target Donates To Group That Promotes Secret Child Gender Transitions, LGBTQ Books In Schools.
The right has a saying: “Get woke, go broke.” It’s not always true, but it does seem as though it is sometimes the case that taking a woke leftist stance hurts the bottom line. Just ask Budweiser or Disney. And yet it’s seemingly done all the time.
It certainly didn’t used to be that way – that is, companies were far more rigorous in enforcing a “no-politics or alignment with causes” stance (see this). What changed? On the surface, it would seem to make no sense, but there are a host of reasons for it that probably would take a book to explain (and there may be a book someone has already written, and that someone isn’t me).
In 2015, Ashe Schow, then with the Washington Examiner wrote, “With all the attention being paid to college-aged social justice warriors and microagressions, one has to ask: What happens when all these delicate snowflakes enter the workforce?”
Target, Bud, Disney, and the L.A. Dodgers are finding out good and hard — just as the New York Times’ newsroom did in 2020.
An internal Target memo attempts to paint those boycotting Target as “extremists.” News flash Target, we’re not the extremists here, your flagrant profiteering off of selling groomer merchandise to kids is extreme. But go ahead, double and triple down. See how that works out. pic.twitter.com/14jgm6S8y8
— Charlie Kirk (@charliekirk11) May 26, 2023