A new study found 50% of Americans are more likely to boycott a brand due to their political positions than they were just one year ago.
The past year was polarizing to say the least. As a result, consumers are wielding enormous power and brands that take — or do not take — political and social stances risk an unprecedented impact to their bottom line in 2021.
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Just ask Goya, whose endorsement of former President Trump led to $47 million in negative publicity, or the NBA whose support of racial justice is purported to have caused ratings to plunge.
Savings.com today released a study on Politics Growing Impact on Brands and Consumers in 2021 after surveying more than 1,000 consumers across the country.
Here are several key findings:
• Democrats are more likely to boycott a brand than Republicans: 61% vs. 41%.
• 25% of Americans purchase from a business based on who they supported in the 2020 Presidential election support.
• 46% of Democrats would boycott over lenient COVID-19 policies versus 28% of Republicans. Conversely, 31% of Republicans would boycott if policies were too strict versus 21% of Democrats.
• Americans just as likely to stop purchasing a brand due to politics as they were to poor customer service, which perennially is a leading cause.
Click here to view the complete results and methodology.