Is an ‘anti-woke’ parallel economy taking shape in the US?

PublicSq is a minnow in a big pond but the online marketplace that proclaims its values as “Pro-Life, Pro-Family, Pro-Freedom” recently went public in a move that adds yet more fuel to the culture wars in the US. 

For example, the pro-family stance advocated by PublicSq could be seen as a potshot at Amazon, a business that can hardly be described as woke but which has offered to cover employees’ travel expenses for abortion if they don’t have access in their home state. 

What’s it about 

• PublicSq. is aimed at SMEs which espouse its values, including belief that small businesses are “the backbone of the economy” and belief in “the greatness of this Nation”. 
• The platform also gives priority to businesses whose products are made in America.
• CEO Michael Seifert has stated the platform is opposed to corporations’ diversity, equity and inclusion efforts, as well as their environmental, social and governance goals and policies. 
• “The only way that we are going to topple those corrupt philosophies that are destroying our economy is by shifting consumer spending,” he said, in remarks reported by the Washington Post.

Why it might matter

Brands’ have become increasingly alert to issues around DEI and ESG, but as recent high-profile episodes have demonstrated – think Bud Light, Target – there’s a vocal opposition to a progressive agenda. And just as some consumers actively choose to support brands backing such causes, so too some will actively avoid them. 

Big brands won’t be selling their products on PublicSq. but it will be interesting to see whether the platform gains serious traction with consumers accustomed to shopping at Amazon and Walmart and if it gains pickup after brand controversies. One of the people involved in taking PublicSq. public believes it can become a cornerstone of a “parallel economy” comprising conservative businesses and shoppers.

Key stats

• PublicSq. hosts more than 55,000 small businesses and has a customer base of over 1.1 million consumers. 

• With a market capitalization of around $353m, it’s less than 1% the size of Target.

Sourced from Washington Post