A nationwide boycott aimed at major retailers like Walmart and Amazon over their diversity, equity, and inclusion policies was meant to send a financial message. However, data from three separate sources shows that the impact was negligible.

On Feb. 28, a grassroots group organized by John Schwarz, a self-described “mindfulness and meditation facilitator” with more than 380,000 Instagram followers, boycotted Amazon for 24 hours. Amazon quietly scaled back on its DEI efforts in December.

According to Bloomberg Second Measure’s U.S. Consumer Spend Index, consumer spending on Feb. 28 dipped by 3% year-over-year, but the decline was within normal daily fluctuations. Spending also rebounded in the following two days, rising 4% on March 1 and 2% on March 2, compared to the previous year, again showing typical daily variation. The observed sales increases were largely due to Amazon Prime subscriptions, which often bill at the end of the month, according to Bloomberg Second Measure.

Overall, Amazon’s sales grew all three days, growing 9% on Feb. 28, 17% on March 1, and 11% on March 2.

The data suggests that boycotts have limited impact on consumer behavior based on the current macroeconomic conditions and overall consumer attitudes.

“Boycotts, generally, don’t work,” said Zak Stambor, senior analyst of retail and ecommerce at Emarketer. “It’s hard to mobilize consumers around a common cause. For most things, most people frankly don’t care that much.”  

The grassroots boycott has seen more movement since the Amazon blackout, especially targeting Target with a 40-day boycott initiated on March 6. The boycott is in response to Target’s January announcement to phase out half of its DEI initiatives and halt hiring and promotion goals for women, racial minorities, and underrepresented groups, according to the Associated Press. Walmart has also scaled back its DEI policies.

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