University of St. Thomas Opus College of Business Professor Christopher Wong Michaelson spoke to Mpls.St.Paul Magazine about recent consumer boycotts aimed at major corporations – including Target – and the complex factors that determine whether such actions succeed.
From the story:
Standing in line at Costco recently, an acquaintance looked at her watch. She’d spent hours on this shopping excursion, one that would have taken about 15 minutes with her laptop and Target Circle Card. But she’d canceled her Target card to join in the boycott of the Minnesota-based big-box store. Wielding her giant Costco cart, she wondered if she was actually making a difference. ...
There is probably one more element at play in determining whether a boycott is successful, says Christopher Wong Michaelson, who teaches business ethics at the University of St. Thomas and NYU. “Frankly, I think the biggest factor is just luck,” he says. “They happen at the right time, strike a nerve, and go viral for reasons that none of us really understand.” ...
Even when boycotts impact a company’s bottom line, the effect is often temporary, Wong Michaelson says. A dip in share price might indicate a relationship between activism and finances, but oftentimes, stock value recovers. “Consumers generally have short memories,” he says. “They’ll be angry for a while, boycott for a while, and then get over it and go back to old habits.”
That’s why successful boycotts usually have specific asks.
