Donald Trump has spent decades touting his own products and services and his success rate is atroicious. Remember Trump The Game? How about Trump Shuttle (Airlines), Trump Steaks, and Trump Water?
The 45th POTUS is a horrible businessman outside of the real estate and entertainment sectors and apparently, his endorsement can actually now cause brands to suffer.
When Donald Trump took office a consumer survey from Simmons Research was conducted and it suggests the Trump presidency may be hurting brands the POTUS chooses to personally endorses.
Respondents were asked these three questions:
- Would you be more likely to use a product endorsed by President Trump?
- Would you be less likely to use a product endorsed by President Trump?
- Would you actively boycott a product endorsed by President Trump?
Almost 50% of respondents told Simmons they would be less likely to use a product or service endorsed by Trump. An additional 29% went one step further, promising to actively boycott a product or service endorsed by the president. Only 18% o respondents said a Trump endorsement made them more likely to purchase a product or service.
Simmons chief scientist Steven Millman explained the phenomenon to NBC News, “We know Trump is a very polarizing figure, but these data suggest that the people who don’t like Trump feel much more strongly about it than the people who do like him.”
It’s no surprise to learn that Democrats are far more likely to take action than Republicans while independents are split on the issue.
Self-described Republicans are more likely to try a product Trump endorses (31%) than they are to avoid it (23%). Self-described Democrats are 61% more likely to avoid Trump-endorsed products.
Independents tend to side with Democrats on the issue with only 8% of them say they would be more likely to use a Trump-endorsed product and 55% claiming they would avoid the product.
The Trump Endorsement Could Actually Help A Few Companies
Hobby Lobby, Cracker Barrel, Chic-Fil-A, and other GOP-leaning establishments could actually score additional customers when President Trump offers his endorsement.
“A strong association between Trump and a brand is likely to be damaging to the brand, unless its consumers are strong conservative,” Millman explains to NBC News. “We’ll explore those implications more in the coming weeks.”
It’s Not Just About A Trump Endorsement
The study found that companies with a CEO who endorses Trump are likely to experience a loss of business. Just over one-third (34%) say they would not buy products if the company’s CEO endorsed the U.S. President.
Just under one-third (30%) say they would pay more to shop at a competitor of a business with a Trump-supporting CEO.
On the Republican side, 22% of Americans say they would prefer to buy from a business when its CEO supports President Trump.
What the study doesn’t address is how far anti-Trump fans would go to actually buy a product from a competing brand. Is traveling an additional 10 miles for a different pair of running shoes too far? Will you stop eating at your favorite fast food restaurant because Trump gives it two thumbs up?
In any case, Trump has the power to really hurt the bottom line for products and services and for a guy who claims to be pro-business, that’s a sad reality.
Welcome to the Red State…