Pride Month 2024: A Shift in Corporate Support for LGBTQ+ Community

As Pride Month comes to a close, it’s clear that this year has been different. While corporations have traditionally shown their support for the LGBTQ+ community through rainbow-themed merchandise and social media posts, many have taken a more cautious approach this year. This shift is largely attributed to the upcoming presidential election and the growing cultural divide in the United States.

The Bud Light and Target Effect

Last year, consumer staples brands Target and Bud Light faced backlash from conservative groups for their support of the LGBTQ+ community. Target, in particular, was targeted by boycotters who criticized the company’s decision to sell Pride-themed merchandise for kids. In response, Target removed some items from its shelves and moved displays to fewer locations. This year, the company has only carried Pride merchandise in select stores and has stopped selling Pride apparel for kids.

Bud Light, on the other hand, faced a boycott after the company sponsored a marketing campaign featuring a transgender influencer. The backlash was significant, with sales tumbling around 25%. The brand has since distanced itself from the influencer and has focused its marketing efforts on events like sports games and concerts.

A More Cautious Approach

Many companies have taken a more cautious approach to supporting the LGBTQ+ community this year. According to a survey by Gravity Research, a Washington, D.C.-based reputational research firm, 45% of Fortune 100 companies had at least one social media post on LinkedIn or X explicitly related to Pride as of June 21 this year, compared with 51% last year.

Tim Bennett, cofounder of Tribury Productions, a marketing company that specializes in reaching LGBTQ+ Americans, works with Fortune 500 companies, including Procter & Gamble. He said more clients have taken a "wait-and-see" approach to marketing to LGBTQ+ consumers or decided to scatter efforts throughout the year instead of making a big splash in a single month.

Doubling Down on Diversity

While some companies have grown more cautious, others have stepped up their inclusion initiatives. E.l.f. Beauty, for example, launched a provocative advertising campaign in mid-May called "So Many Dicks." The ads, which were on billboards in prominent places in New York City, highlighted that there are more men named Dick (including Richards, Richs, and Ricks) than entire groups of underrepresented people. The campaign also included video spots with athlete and social rights activist Billie Jean King.

E.l.f. Beauty CEO Tarang Amin said customers, especially its core audience of Generation Z shoppers, want brands to stand up for causes they support. He said he’s noticed corporate leaders have grown more skittish about speaking up than they used to be.

Conclusion

As Pride Month comes to a close, it’s clear that corporate support for the LGBTQ+ community is evolving. While some companies have taken a more cautious approach, others have doubled down on their inclusion initiatives. It’s essential for companies to prioritize diversity, equity, and inclusion, not just during Pride Month but throughout the year.

FAQs

Q: Why have some companies taken a more cautious approach to supporting the LGBTQ+ community this year?
A: Many companies have taken a more cautious approach due to the upcoming presidential election and the growing cultural divide in the United States.

Q: What was the impact of the backlash against Target and Bud Light last year?
A: Target’s sales of Pride merchandise declined, and the company removed some items from its shelves. Bud Light’s sales tumbled around 25% after the company sponsored a marketing campaign featuring a transgender influencer.

Q: How have companies responded to the cultural shift in support for the LGBTQ+ community?
A: Some companies have taken a more cautious approach, while others have doubled down on their inclusion initiatives. E.l.f. Beauty, for example, launched a provocative advertising campaign called "So Many Dicks" to highlight the importance of diversity and inclusion.

Q: What can companies do to prioritize diversity, equity, and inclusion?
A: Companies can prioritize diversity, equity, and inclusion by standing up for causes they support, providing inclusive marketing campaigns, and fostering a culture of acceptance and respect.

Author: www.cnbc.com

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