O'Leary believes Target's decision to roll out the Pride merchandising line was a "huge mistake," despite the company's desire to sell to everyone. He cited the example of Bud Light, whose sales have plummeted since April after teaming up with transgender activist Dylan Mulvaney.
The American beer giant continues to grapple with the backlash from its marketing decision. According to FOX Business, Target and Anheuser-Busch have lost around $28 billion in market value as of Friday.
O'Leary believes companies like Bud Light and Target "cannot be partisan in any way" when selling consumer goods and services. He stated that CEOs representing companies never discuss issues such as abortion because they are personal, family, and religious issues that will never be resolved.
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Similarly, politics and gender identity are issues that everyone has a personal opinion about, and getting involved in a fight like that can result in losing 50% of your constituency.
May 29, 2023
According to a Target insider cited by Fox News Digital, some stores were told to move LGBTQ Pride merchandise into store sections "a third the size" after customer "outrage."
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The insider believes that the company is terrified of a Bud Light situation. Additionally, Fox News Digital reported that the Target Corporation collaborates with a K-12 education group called GLSEN, which focuses on gender ideology integration in classrooms.
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O'Leary warned that "Fixer Upper" stars Chip and Joanna Gaines, who have a home and kitchen line at Target, would lose 30% of their sales if they got involved in this fight. He advised them to stay out of it. O'Leary pointed toward social media as a giant polling system that has turned everything upside-down. When something goes viral, it can be a good thing, but mostly it's negative and decimated these brands very quickly.
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O'Leary believes companies should avoid taking partisan positions when selling consumer goods and services. Target's decision to roll out the Pride merchandising line was a "huge mistake," the company is now facing a drop in market value and threats of boycotts.
O'Leary warned that companies like Bud Light and Target should avoid getting involved in issues such as politics and gender identity, as personal and religious matters will never be resolved. Finally, he advised "Fixer Upper" stars Chip and Joanna Gaines to stay out of this fight to avoid losing sales.
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