According
to @grabyourwallet, @resistance controls 2/3 of the wealth in this
country. I'm not sure where that figure came
from, but given the success of both the @grabyourwallet and @slpng_giants
boycotts it certainly appears that this group has the financial strength to
back up their promises.
Thanks
to an ill thought out bullying attempt, Nordstrom's released data that
indicated sales of Ivanka Trump products dropped 70% in the 2nd, 3rd and 4th
weeks of October. Wow. Overall the brand was down 32% for the
year. (Gottfried, 2017)
LL Bean had flat sales in 2016
and is currently seeking a 10% headcount reduction. (Anderson, 2017) Uber
and Under Armour are tripping over
themselves to try to back track on their earlier support of Trump.
On the
other hand, Hamilton is still sold
out, and Starbucks doesn't seem to
have lost any momentum. I guess you
can't boycott something you never bought in the first place.
Fox News, up 35% in January 2017, (Katz, 2017) is benefiting from Trump support, but CNN's audience is up 38%. (Katz, 2017) and the "failing" New York Times, added more subscribers in the last three months of 2016 than all of 2015 (Rodriguez, 2017) Saturday Night Live is having its best year since 1995, and Colbert is now beating Fallon in the late night wars.
In
terms of the "Trump Bump," i.e. the effect of his tweets and comments
on brands, it's a mixed bag. Early
comments negatively affected various industries, but Nordstrom's stock rose 4%
on the news that they would no longer carry Ivanka Trump products. (Calfas,
2017)
I am
reminded of the expression - "May you live in interesting times." It's actually a curse you know.
Gootfired,
M. & Kapner, S. (2017, February 11)
Internal Nordstrom Data Show Sales Decline for Ivanka Trump Brand. wsj.com. Retrieved February 17, 2017, from https://www.wsj.com/articles/sales-of-ivanka-trump-footwear-apparel-fell-32-at-nordstrom-last-year-1486814580
Anderson,
C. (2017, February 9) L.L. Bean offers
retirement buyouts to trim workforce by 10%.
pressherald.com. Retrieved February 17, 2017, from http://www.pressherald.com/2017/02/09/l-l-bean-offers-retirement-buyout-to-trim-workforce-by-10-percent/
Katz,
A.J. (2017, January 31) January 2017
Ratings: Fox News is No. 1. For 15 Consecutive Years. adweek.com. Retrieved February 17, 2017, from http://www.adweek.com/tvnewser/january-2017-ratings-fox-news-is-no-1-for-15-consecutive-years/319139
Katz,
A.J. (2017, January 31) January 2017
Ratings: CNN Ranks No. 2 Across Cable News.
adweek.com. Retrieved February 17, 2017, from
Rodriguez,
A. & Mejia, Z. (2017, February 3) Thanks
to Trump, the New York Times added more subscribers in three months than all of
2015. qz.com. Retrieved February 17, 2017, from https://qz.com/901684/thanks-to-trump-the-new-york-times-added-more-subscribers-in-three-months-than-in-all-of-2015/
Calfas,
J. (2017, February 8) Nordstrom stock
gains over 4 percent after Trump tweet.
Retrieved February 17, 2017, from
1 comment:
Great article. Thanks.
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