Boycotts
Traditional
Boycotts
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Counter-Boycotts
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Boycotts
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But Do Boycotts
Really Make a Difference?
Bud Light
Anheuser-Busch InBev (AB InBev) faced significant financial repercussions following the 2023 backlash over Bud Light’s partnership with transgender influencer Dylan Mulvaney. The company reported a $395 million decline in North American revenue in Q2, with Bud Light’s U.S. sales volume falling 17.1%. By mid-2023, Bud Light lost its position as the top-selling beer in the U.S., overtaken by Modelo Especial. In response to the downturn, AB InBev laid off nearly 400 North American employees and sold several brands to Tilray for $400 million, highlighting the substantial impact of the boycott on the brand and its parent company. (Sources: Forbes, The Guardian, CNN)
Cracker Barrel
In 2025, Cracker Barrel faced significant backlash after unveiling a modernized logo and store redesign, which many conservatives perceived as woke because it departed from the chain’s traditional Americana and Christian-themed branding. The logo featured a minimalist, contemporary design, and stores were updated to appeal to a younger, more progressive demographic, sparking outrage among the company’s core customer base. The controversy had a notable financial impact: Cracker Barrel’s stock price dropped by approximately 7.2%, erasing about $94 million in market value, and eventually fell 30% from a high of $71.86 in July to $50 per share. In response, Cracker Barrel reversed its logo change and suspended remodeling plans, emphasizing a return to its traditional brand identity, highlighting the power of conservative-led consumer pressure. (Sources: CBS, Barron's, The Guardian)
Target
In 2023, Target faced a major backlash over its Pride Month merchandise, which included adult-themed and "tuck-friendly" swimsuits. The boycott caused Target to lose an estimated hundreds of millions of dollars in revenue, while its stock price fell by approximately $27.27 per share, resulting in a loss of roughly $12.4 billion in market value. Despite attempts to adjust its Pride merchandise strategy, foot traffic and revenue remained under pressure in subsequent quarters, highlighting the significant impact of the conservative-led boycott on the company. (Sources: Forbes, Target Financial Reports)
Netflix
In September 2020, Netflix faced a major backlash over the release of the French film Cuties, which many conservatives criticized for its sexualized portrayal of young girls. The controversy led to a surge in cancellations: U.S. cancellation rates spiked nearly eight times higher than average, and traffic to Netflix’s cancellation confirmation page jumped 187% on September 10 compared to the previous day. Analyst projections estimated that Netflix could lose several million subscribers in the third quarter as a result of the backlash. In response to the pressure, Netflix apologized for the film’s promotional material and removed the original poster, acknowledging that it had caused offense and adjusting its marketing approach. (Sources: Reuters, Business Insider, The Wrap)