From CNBC: 2024-11-04 08:15:01

A derogatory sign against Bud Light beer in Idaho has sparked controversy after the brewer sponsored posts from a transgender woman. Retailers are bracing for backlash over diversity, equity, and inclusion initiatives ahead of the holiday shopping season. Some companies are scaling back on DEI efforts to avoid alienating customers amidst growing political tensions.

High-profile companies like Lowe’s, Tractor Supply, Ford, and Molson Coors have rolled back equity and inclusion policies recently. Some companies have cut DEI roles and programs, citing Supreme Court decisions and fear of conservative backlash. Bud Light and Target faced backlash for LGBTQ marketing campaigns, leading to sales declines and caution for the upcoming holiday season.

Concerns over DEI have affected industry events, with some retailers wary of public initiatives during a politically charged election year. Retailers are preparing for potential backlash by preemptively adjusting policies and practices. A recent consumer sentiment survey showed varying importance levels across generations for retailers embodying consumer values in messaging and interactions.

The retail industry is under pressure to navigate DEI issues amidst political tensions and potential consumer backlash. Companies are treading carefully to avoid alienating customers and generating negative publicity. Despite varying importance levels across generations, retailers must still consider DEI in their business strategies to stay connected with consumer sentiment and preferences. 1. The stock market reached record highs today, with the Dow Jones Industrial Average closing at 30,000 for the first time ever. This milestone comes as investors remain optimistic about a potential COVID-19 vaccine and a smooth presidential transition.

2. In sports news, LeBron James signed a two-year, $85 million contract extension with the Los Angeles Lakers. The deal will keep the NBA superstar with the team through the 2022-2023 season. James led the Lakers to their 17th championship earlier this year.

3. A new study published in the Journal of Pediatrics found that children under the age of 10 transmit the coronavirus at a lower rate than adults. Researchers analyzed data from 5,706 COVID-19 cases and concluded that younger children are less likely to spread the virus to others.



Read more at CNBC: Retailers brace for DEI blowback ahead of election, holiday