In recent weeks, American retail giant Target Corp has seen a staggering $10 billion wiped from its market capitalization amid widespread boycotts against the company.
This financial loss is due mostly to the company’s attempt at going “woke” by selling transgender clothing for children in their stores.
Videos and images of these items have been spreading on social media which then led to calls for a boycott of Target.
After trading closed before Memorial Day weekend, the stock price had dropped 14% translating to a whopping $10 billion loss for the Minnesota-based company.
Investors Business Daily reported that this Tuesday morning saw an additional 3.3% drop with Target’s stock value now standing at $134.33 as of publishing time.
The reason behind this sharp decrease is largely attributed to the retailer’s “Pride” displays that include trans-themed baby clothes which quickly caused outrage across America leading people to refuse shopping at Target locations in protest.
The company quickly resorted to damage control and took part in an “emergency call” trying to avoid what one insider referred as a “Bud Light situation”– Anheuser-Busch’s short-lived partnership with transgender influencer Dylan Mulvaney that resulted in billions being lost after backlash ensued and sales plummeted drastically.
It is easy to understand why Americans are so passionate about boycotting companies such as Target or Anheuser-Busch over their attempts at pushing progressive agendas onto citizens without considering public opinion first—especially when it comes to controversial topics such as gender identity issues involving children. It can be perceived as both disrespectful to the religious and inappropriate for children.
It may even be argued that companies should not take political stands since they impact millions of people who may not necessarily agree with them, yet are still affected through financial losses due to boycotts or other repercussions associated with taking sides on controversial issues unrelated directly related business operations or goals (e.g., providing quality products).
one viral tiktok about this shows the "weird, creepy, uncomfy" stuff on children's clothes in target's pride section and it's literally just…..rainbow themed clothes lmao
the tucking bottoms she shows are for *adults* not toddlers
— rebekah entralgo (@rebekahentralgo) May 24, 2023
Instead, businesses should focus on delivering great products and services while respecting all customers no matter their political views or personal beliefs without prejudice or bias towards any particular group(s) of individuals regardless if they happen fall within minority categories or are currently popular trends amongst certain communities/groups within society at large.
There are certainly many lessons that can be learned from these two examples discussed here today. Do not push your radical political agenda onto customers if you want them keep supporting your business financially.
Respect all customers regardless of their beliefs and, do not forget why you do what you do– provide quality goods and services.