In 2023, Bud Light and Target faced backlash from conservative consumers due to their involvement in LGBTQ-related marketing and partnerships.
Bud Light’s sales plummeted after a social media promotion with a transgender activist and a shift in branding, leading to layoffs and a significant decline in revenue.
Target also experienced criticism for its LGBTQ-focused products and partnerships, resulting in a hit to its stock and sales. (Trending: Trump Releases Must-See Christmas Message)
Both companies faced repercussions for their progressive social stances, reflecting the “go woke, go broke” trend.
“By May, Anheuser-Busch had dropped $27 billion in market value and sales were down nearly 30% compared to the previous year,” the report noted.
“In July, the company announced it was laying off hundreds of workers. In its third quarter, the company suffered a 13.5% decline in U.S. revenue and a 17.1% decline in North American sales volume.”
“For more than a decade, Target has offered an assortment of products aimed at celebrating Pride Month,” a Target spokesperson stated.
“Since introducing this year’s collection, we’ve experienced threats impacting our team members’ sense of safety and wellbeing while at work. Given these volatile circumstances, we are making adjustments to our plans, including removing items that have been at the center of the most significant confrontational behavior.”
“Our focus now is on moving forward with our continuing commitment to the LGBTQIA+ community and standing with them as we celebrate Pride Month and throughout the year.”
A Gallup poll indicated that most Americans prefer businesses to refrain from taking public stances on contentious issues.
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