Yesterday, Walmart announced it will reduce its gun and ammunition sales, one month after more than 20 people were killed in a mass shooting at one of its retail locations in El Paso, Texas. Walmart also pressured Congress to enact gun safety measures.
I wrote an essay about a year ago about “Brand Bravery as a Go-to-Market Strategy” in it, I examined the marketer’s argument for brand bravery: “According to a Shelton Group study, 86% of consumers believe companies should take a stand for social issues, and 64% of those consumers are “very likely” to purchase from a company that makes that pledge. These people (dubbed “Corpsumers”) make up about one-third of the market, according to a Unilever study. Even for those who don’t speak with their wallets, corporate impact does not go unnoticed; 92% of consumers say they have a more positive image of a company when the company supports a social or environmental issue, according to a 2017 Cone Communications study, and 78% of Americans believe companies must positively impact society.”
Kudos to Doug McMillon (Walmart’s CEO) and his team for showing us what purpose-driven corporate leadership looks like.
Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.