Donations from PACs, employees, and family members associated with the largest food and beverage companies in the United States have significantly decreased during this election cycle. According to a Food Dive analysis of OpenSecrets data, contributions have dropped by nearly half compared to the previous election cycle.
As of Sept. 22, entities linked to 15 major U.S. food and beverage firms have donated $4.5 million to various political causes, down from $8.2 million during the same period four years ago. If this trend continues, it will mark the lowest level of contributions for a presidential election cycle since 2008.
Experts attribute this decline in donations to the current divisive political climate, with businesses opting to stay out of political involvement to avoid potential backlash. The data shows a nearly equal decrease in contributions to both Democrats and Republicans.
Several major companies, including Hormel Foods and Campbell Soup, have seen significant drops in their donations, while others like Monster Energy have reported an increase in contributions.
Political academics suggest that even small donations can have long-term benefits for companies by ensuring they have a seat at the table when important decisions are made that could impact their businesses.
While the decline in donations can be attributed to various factors, such as the current political climate and consumer sentiment, companies are also cautious about getting involved in politics due to potential controversies and backlash.
Instead of focusing on political contributions, companies may choose to invest in marketing, advertising, or addressing key issues that directly impact their business operations.
Overall, the decrease in political donations from food and beverage companies reflects a shift in the industry’s approach to political involvement and highlights the complex relationship between business and politics.