Beyond Meat, the famous plant-based meat replacement company, is facing slumping sales. While there is much speculation as to the cause of the decline, Deloitte Consulting suggests associating fake meats with “wokeness” may be a chief reason.
As Bloomberg reports:
“Now, after once enjoying double-digit growth, sales in the plant-based meat category are not just flat but declining, according to data from Information Resources Inc., or IRI. That’s due to possible saturation of the US market as new brands hit the shelves, according to Deloitte Consulting LLP.”
While that's one possible solution Deloitte offers, they also suggest another: wokeness.
“Deloitte believes the industry is suffering from a perception problem. In July, it surveyed 2,000 consumers and found a decline in the belief that plant-based meat is healthier and more environmentally sustainable than meat from animals…
Deloitte also suspects that the addressable market may be more limited than previously thought with a growing cultural resistance to its “woke” status — even among those seeking to reduce red meat consumption. Case in point: When Cracker Barrel announced plans to add Impossible Foods’ sausage to its menu over the summer, it faced an onslaught of criticism on social media.”
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This is borne out by the evidence. Beyond Meat, like so many other companies in 2020, embraced the Marxist and Racist Black Lives Matter (BLM) movement with open arms. As The Heritage Foundation argues, Black Lives Matter effectively introduced CRT to the public square. The effects of that introduction are still being felt by the world today — only now, people are increasingly seeing past BLM's Marxist facade.
— Beyond Meat (@BeyondMeat) June 1, 2020
While we can only speculate on why Beyond Meat is facing financial distress, one thing is clear — when companies go woke, they face significant financial hurt. Many have speculated that a “wokeward” turn is part of the reason Bed Bath & Beyond is closing so many stores.
Wokeness is not good for anyone. Not the culture, because it is deeply unnatural and unsettling for the populace at large. Not the individual because it ignores responsibility and accountability. And not the company, because when you go woke, more often than not, you go broke.