05/31/2024
Brands shouldn't be in politics and this is why. Great read. Bottom line is this: consumers care first about what a value your brand is. If a brand benefits by taking a stand on an issue, they may be walking it back in a year and losing their shirts.
"Unstated by Pritchard but surely informing his caution is Bud Light’s reported billion-dollar sales slide, attributed to a transphobic boycott following a fleeting partnership with social media star Dylan Mulvaney in early 2023. When that backlash exploded, Anheuser-Busch’s CEO defensively walked back any pretense of activism: “We never intended to be part of a discussion that divides people."" (No, Sir, you never intended to lose a Billion Dollars while appearing trendy.)
Top concerns are now centered in how much your brand has been gouging.
Following the Bud Light backlash and inflation fears, the revolution will not be advertised.