Kearney Consumer Institute’s recent report found that 33% of consumers would consider boycotting a brand in 2021.
With prolonged lockdowns in the US, being cooped up at home at a time of political divide in 2020, consumers have solidified their opinions of issues close to them. Marketers that choose to address social causes, must consider and align with their consumers' values or risk damaging sales and losing trust.
While boycott movements are a challenge for brands, companies mustn’t use the movements to “play it safe” or reverse their stand. Leveraging pandemic-driven strategies like livestreaming will be vital for long-term community building.
For example, Nike’s partnership with Foot Locker increased the former’s touchpoints and provided Foot Locker with usage of Nike’s proprietary tech. Katie Thomas, head of the Kearney Consumer Institute notes, companies must engage with communities that consumers “have already formed for themselves”.
[6 minute read]