As brands increasingly come under fire for unethical practices and marketing miscues, the ramifications can be far-reaching. A third of young people are willing to boycott brands. During 2018, 35% of Generation X and 33% of Millennials had participated in the boycott of a company or product they had spent money on in the past, according to a recent survey of over 1,000 Americans by CompareCards. Here are other key takeaways from the survey.
- 30% of Gen Xers and 26% of Millennials are currently participating in a boycott
- Overall, 26% of Americans are currently boycotting a company or product, while 32% had boycotted at some point in the past year
- 53% of respondents said they’d no longer shop at their favorite retailer if it publicly supported a person or cause they strongly disagreed with
- 55% of credit cardholders said they’d stop using their favorite credit card if the issuer publicly supported a person or cause they strongly disagreed with
- Nearly 8 in 10 Americans (78%) have boycotted in the past year or would consider doing so in the future under the right circumstances. However, about half (49%) say that people are too quick to recommend a boycott
- Nearly 6 in 10 Americans (58%) said they’re more likely to buy from a company that gives to charities or is associated with causes they believe in.
- The wealthy, Democrats, and parents with young kids are most likely to boycott their favorite retailer or credit card for supporting a cause or person they oppose.
For the full report, visit CompareCards