GOP presidential hopeful Donald Trump’s polarizing bid for the White House is reportedly losing customers for his brand.
That’s according to a new report out from Reuters which reveals that Trump’s prestigious hotels and golf courses have lost about 14 percent market share since last year.
According to the report, Trump-owned hotels took a hit of a 54 percent decrease in bookings last year.
One interesting point the article makes is that the key demographic Trump’s businesses target is different from the majority of voters the Trump campaign is reaching.
“The Trump brand used to be one-dimensionally focused on success. It was simple and relevant to a large audience,” said Allen Adamson, founder of consulting company BrandSimple, told Reuters. “Now it’s more complex and polarizing and relevant to a smaller market segment.”
[T]he Americans who flock to the tycoon’s rallies are more likely to be over 55, without a college education and from rural areas. They might buy “Make America Great Again” hats from Trump, but not too much else. Their loyalty would be much better news for Trump’s business if he were selling life insurance or lawn mowers, or running a conservative media company (which some have speculated he might if he doesn’t win the presidency).
Among people making more than $150,000 — the ones who can best afford his products — Trump’s consumer appeal is fraying. Back in 2010, only 5 percent of brands were perceived by those Americans as being more “glamorous” than his, according to BAV Consulting. When the survey was repeated at the end of last year, Trump had fallen about a third of the way down the league table.
Trump recently promised that he will sever ties with his business if elected.
“I will sever connections, and I’ll have my children and my executives run the company,” he told Fox and Friends.
Trump said he is glad to do so because, “It’s just so unimportant compared to what we’re doing about making America great again.”