Rainbow Capitalism & Owning Outcomes: Brand Considerations for Pride 2024
Every year as we come up to the month of June, Pride-themed merchandise arrives on the shelves of companies big and small. However, the excitement I have when I see these products that represent my community hit the market seems to shrink more and more with each passing year due to rainbow capitalism.
Rainbow capitalism (or rainbow washing) is a tactic where brands capitalize on the LGBTQIA+ community to bring in more money – especially during the month of June. While these terms aren’t entirely new, it is something that has been more consistently discussed over the last several years as awareness continues to grow.
When a company’s values say one thing but behave in another direction, their support isn’t authentic – it’s virtue signaling. It speaks to our community: I will support you – as long as our price tag isn’t at risk.
What’s honorable in a brand and what keeps customers, in the long run, is authenticity. And what tells a consumer that a brand is authentic – especially when marketing to minority communities – is how it responds to adversity and backlash.
It’s not uncommon for brands that have marketed to the LGBTQIA+ community in the past to receive backlash and boycotts from other audiences. But when a brand doesn’t pull back in the face of adversity and instead doubles down on its values, they are more likely to be remembered by the LGBTQIA+ community in a positive way.
As we wrap up Pride 2023, we looked into what brands owned their outcomes this June as a way to highlight how brands can show support through Pride marketing in 2024 (and beyond).
The North Face
There are several companies that did this well in 2023. The North Face, for example, partnered with drag queen and environmentalist Pattie Gonia for the second year in a row to host a “Summer of Pride” event, encouraging people from all walks of life to get outdoors.
“...because we believe that exploration can take many shapes and forms, we’re making these events so much more than just a hiking tour. We’ll have workshops, panels, and activities for all individuals who love to be outside.” -The North Face, Instagram
As the brand received backlash and was boycotted for its Summer of Pride ad, The North Face held its footing in its decision: “The North Face has always believed the outdoors should be a welcoming, equitable, and safe place for all. We are honored and grateful to support partners like Pattie Gonia who help make this vision a reality.”
Nike
Additionally, when Nike received backlash after transgender influencer Dylan Mulvaney was sponsored by and featured the brand in several social media posts, they – like North Face – doubled down on their stance. They referred to Mulvaney as an "essential component to the success" on her Instagram post and discouraged any conversations that looked like bullying or hate speech in the comments.
If more brands can take a stance against the backlash of marketing to marginalized groups, they will retain more long-term loyalty in their customer base. More importantly: they will be standing up for what’s right.