From CNBC: 2024-06-30 08:00:01

Some companies are taking a more cautious approach to Pride Month as the presidential election nears, with concerns about backlash from conservative customers. One retailer, Tractor Supply, announced it would no longer sponsor diversity and environmental causes, highlighting how some companies are treading cautiously with inclusion efforts.

Despite this caution, 45% of Fortune 100 companies have shared Pride-related content on social media this year, compared to 51% last year. The uncertainty around the election has made many companies less likely to publicly support LGBTQ+ initiatives. In contrast, GLAAD is still seeing strong corporate support for LGBTQ+ causes this Pride month.

Last year, companies like Target and Bud Light faced backlash for their LGBTQ+ support. This year, Target has scaled back its Pride collection in response to previous threats and negativity, while Bud Light has not posted in support of Pride month. The boycott of Bud Light has had lasting effects on the brand’s sales.

In contrast, e.l.f. Beauty has launched a bold advertising campaign highlighting the lack of diversity in some groups. The beauty brand is doubling down on its diversity efforts and is one of the few publicly traded companies with a highly diverse board. This shows that some companies are actively promoting inclusion despite potential backlash.



Read more at CNBC: More companies stay quiet, but donations keep flowing