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Walmart Faces Nationwide Boycott After $22B Valuation Loss. Here’s What We Know
April 7, 2025
Walmart is facing a week-long nationwide boycott following its recent loss of $22 billion in market value. The boycott is being offered by the same union that organized recent Amazon and Nestlé boycotts. Let’s look at what we know.
Walmart Boycotts: Nationwide Blackout of Retail Services
Newsweek reports that The People’s Union USA is promoting a boycott of Walmart from April 7 to April 14.
“To those fighting the fight, this Monday we begin the Walmart blackout,” said John Schwarz of the People’s Union USA on TikTok. “Seven days no shopping, no orders, nothing. And this is not about hate, this is about strategy, it’s about our power. Because if we don’t start fighting the fight now, there won’t be much left to fight for.”
“This is where we once again draw the line, this is again where we say enough. Seven days of economic resistance, and not just Walmart, it’s time to get serious across the board. Start pulling back, stop spending on what you don’t need,” he continued. “This movement is not against the people. It is for them. We lift each other up, we protect our communities, and we show the giants that we’re not afraid to fight back. Be safe my friends, be vigilant, but don’t be quiet.”
In a statement to Newsweek, Walmart replied, “Serving communities is at the heart of Walmart’s purpose to help people save money and live better. As one of the largest corporate taxpayers in the country, not only do we pay our fair share, we are an economic force multiplier strengthening communities nationwide through job creation, supplier growth, and over $1.7 billion in cash and in-kind donations last year, equal to 8 percent of our profit before tax, supporting local charities and causes such as disaster response, hunger relief, workforce development, and conservation. We remain dedicated to earning the business of all Americans and giving our time and resources to causes that uplift and unite communities who rely on us every day.”
Market Devaluation
Following Walmart CEO Doug McMillon’s message last month about falling consumer confidence, particularly among lower-income customers, the full picture has now been disclosed, and it is not so bright.
Walmart’s market capitalization fell by a significant $22 billion following a March 25 study from The Conference Board. The study stated that consumer confidence, particularly in the future, had reached a 12-year low, according to Fortune.
“Consumer confidence declined for a fourth consecutive month in March, falling below the relatively narrow range that had prevailed since 2022,” said Stephanie Guichard, senior economist, global indicators at The Conference Board.
She continued: “Of the Index’s five components, only consumers’ assessment of present labor market conditions improved, albeit slightly. Views of current business conditions weakened to close to neutral. Consumers’ expectations were especially gloomy, with pessimism about future business conditions deepening and confidence about future employment prospects falling to a 12-year low. Meanwhile, consumers’ optimism about future income — which had held up quite strongly in the past few months — largely vanished, suggesting worries about the economy and labor market have started to spread into consumers’ assessments of their personal situations.”
The majority of the pessimism or worry about the nation’s immediate future came from survey respondents aged 55 and older, while those under 35 and earning more than $125,000 per year expressed optimism.
In March, the Consumer Confidence Index fell by 7.2 points to 92.9 (a baseline of 100 was established in 1985), the Present Situation Index fell by 3.6 points to 134.5, and the Expectations Index fell by 9.6 points to settle at 65.2, the lowest level in more than a decade of measurements, according to Guichard.
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