Behold the Power of the Boycott - Part 2

I read recently that boycotts don't work because people forget about them fairly quickly and revert back to their original behavior before too long.  Since Myers-Briggs tells us that 70% of people live in the moment that makes sense.

But those of us old enough to remember the civil rights movement and the Montgomery bus boycott know that sometimes boycotts do work.  It just depends on how passionate their supporters are. 

Grab your wallet is a case in point.  As I noted last summer, thanks in part to its over 2 million followers, 22 companies have dropped the Trump brand, the Manufacturing Council disbanded and Mar-a-Lago and other Trump properties experienced multiple event cancellations. (Kramer, Paletta & McGregor, Dangremond, 2017)

Now it's time for a fall update.

In November, Trump Soho became the second hotel to drop the Trump name, after first closing its restaurant and then dropping room rates.  Government records show that losses have more than doubled at the two Trump golf courses in Scotland, and business is down at the courses in Los Angeles and NYC.  (Associated Press, 2017)

Last week, Nike - Trump's biggest and most lucrative tenant, announced that they were breaking their lease on their flagship Niketown store and moving to a new location down the block.  (Green, 2017)  Perhaps their decision was influenced by the 72,000 people who signed a petition from Courage Campaign asking them to do so. (Dua, 2017),  

And today, CityRealty released a report showing that the average price for Trump-branded condos is $2.6 million, below the Manhattan wide average of $3.1 million, for the first time. (Trangle, 2017)

Clearly some boycotts do work.  And brands need to take note.

Here's a link to the previous blog...

http://pjlehrer.blogspot.com/2017/08/behold-power-of-boycott.html

Kramer, M. (2017, June 4) Grab your wallet, boycott Trump and participate in “A sprawling landscape of resistance” salon.com  Retrieved August 19, 2017, from http://www.salon.com/2017/06/04/boycott-trump_partner/

Paletta, D. & McGregor, J. (2017, August 16)  Trump’s business advisory councils disband as CEOs abandon president over Charlottesville views. washingtonpost.com  Retrieved August 19, 2017, from

https://www.washingtonpost.com/news/on-leadership/wp/2017/08/16/after-wave-of-ceo-departures-trump-ends-business-and-manufacturing-councils/?utm_term=.5a27053930d9

Dangremond, S. (2017, August 18)  Eight Charities Have Canceled Their Mar-a-Lago Galas This Week.  townandcountry.com.  Retrieved August 19, 2017, from http://www.townandcountrymag.com/society/politics/a12033310/mar-a-lago-charity-fundraisers-canceled/

Associated Press. (2017, November 22)  Trump SoHo hotel to drop 'Trump' name amid reports of slow business.  foxnews.com.  Retrieved December 13, 2017, from

http://www.foxnews.com/travel/2017/11/22/trump-soho-hotel-to-drop-trump-name-amid-reports-slow-business.html

Green, D. (2017, December 7)  Nike is leaving its iconic Niketown property — and the fact that Trump owns it is reportedly a factor. scmp.com.  Retrieved December 13, 2017, from

http://www.scmp.com/business/companies/article/2123308/nike-leaving-its-iconic-niketown-property-and-fact-trump-owns-it

Dua, T. (2017, August 17)  Nike is under fire for 'supporting' Trump.  businessinsider.com.  Retrieved December 13, 2017, from

http://www.businessinsider.com/an-online-petition-is-calling-for-nike-to-stop-supporting-trump-2017-8

Trangle, S. (2017, December 13)  'Trump effect' on condo prices?  amNewYork. p A5.