Pullback Season Hits the Rainbow Merch Tables

A new survey shows that corporations are backing away from supporting Pride this year, with pressure from the political right – and the White House – cited as a chief reason.

"Nearly two-fifths of corporations plan on scaling back engagement for LGBTQ Pride Month this June," Forbes reported, adding that "another two-fifths said their support would remain unchanged..."

The survey uncovered a major (but unsurprising) reason for much of the shift.

"Of the 49 executives surveyed from Fortune 1000 companies, those who said they were pulling back on Pride support cited pressure from conservative activists and President Donald Trump, who has signed executive orders gutting diversity, equity and inclusion and targeting the transgender community," Forbes detailed.

Companies stepping away from Pride indicated that their retreat would be on two fronts: engagement with the public at large, and in terms of support for their LGBTQ+ employees.

"Of the 39% of companies who said they would reduce Pride Month engagement this year," Forbes detailed, "43% said they would reduce external shows of support, which includes having a visual presence at or financially sponsoring Pride marches, offering a Pride merchandise line, updating social media branding and partnering with influencers for Pride-themed sponsorships."

Meanwhile, "19%" of those companies "said their decreased engagement for Pride would be internal, including internal communication with employees about commitments to equality and offering employee resource groups."

Less than half of the corporations surveyed – 41% – indicated that their support for Pride would remain steadfast, "while the rest responded 'don't know' or 'haven't decided,'" Forbes detailed.

The numbers come from a survey done by Gravity Research, Forbes noted, adding that just one year ago the same survey showed that a mere 9% of corporations felt a need to change course on how they engaged around Pride.

"Gravity Research president Luke Hartig told Forbes the survey 'reveals just how dramatically the cultural and political tides have turned,'" the writeup said, before highlighting the more hopeful fact that "most are holding firm internally, continuing to show up for LGBTQ+ employees and allies via events, partnerships with ERGs, and reiterating workplace inclusion."

Two years ago, pressure from right-wing groups was having a marked effect on how some companies showed their allyship. Bud Light suffered major losses due to a boycott from conservatives outraged that the brand had a partnership with trans influencer Dylan Mulvaney; in the wake of Bud Light dropping its relationship with Mulvaney, anti-LGBTQ+ conservatives targeted other companies, including Target, which chose to move some Pride displays to the backs of stores and remove some items from sale after being attacked on social media and following incidents of violence and intimidation at some locations.

Target discontinued carrying Pride-themed merchandise in some of its stores last year, following the backlash in 2023.

The aftershocks of that backlash are still being felt. Forbes reported that Bud Light parent company "Anheuser-Busch... declined to support St. Louis Pride in 2025 after more than 30 years of sponsorship, St. Louis Pride said in an Instagram post," while "San Francisco Pride organizers told Forbes Anheuser-Busch also declined to support the organization this year, as did previous sponsors Comcast and alcoholic beverage company Diageo, representing a loss of $200,000 in corporate sponsorship funding."

But companies that fold in the face of homophobic pressure risk alienating queer customers, whose purchasing power is not inconsiderable.

"Target has faced renewed boycotts in recent weeks after it joined a wave of companies walking back diversity, equity and inclusion standards, angering critics who viewed the company as a longtime LGBTQ ally," Forbes said.

"An unnamed corporate executive at a Fortune 500 consumer staples company told Gravity Research it has 'reduced risk across all heritage month events' by 'focusing internally and doing what's right for our people and not necessarily shouting to the world about it,'" the outlet relayed.