Boycotts are a central tool in the ethical consumption movement. But they’re not universally well-regarded. Critics sometimes argue that boycotts are useless and ineffective, or polarising and aggressive – there’s no shortage of critiques of this campaign tool.
Here we explore three of the most common underlying arguments made against boycotts, and look at the evidence behind these claims.
1) “Boycotts don’t have a financial impact”
There are certainly examples throughout history where boycotts have caused financial loss and directly resulted in changes.
In the US for example, after the 2013 documentary Blackfish was released, it promoted widespread boycott calls of SeaWorld’s orca shows including a campaign by animal rights group Peta. Visits to the theme park dropped so significantly that SeaWorld’s profits fell by 84%. In 2016, SeaWorld announced it would stop its orca breeding programme. We discuss this example and more in our ‘history of successful boycotts’ feature.
However, it is relatively rare for boycott campaigns to dent company profits in this way.
Many boycotts don’t actually cause a company’s revenue to drop significantly. For example, Ethical Consumer has run a boycott campaign against Amazon since 2012 over, amongst other issues, its massive tax avoidance. Yet Amazon’s revenue has continued to rise.
Even when a boycott does seem to cause the company financial losses, it’s rarely enough to make the company go bankrupt or be forced to change practices immediately. In 2026, for example, following widespread boycotts of companies owned by Elon Musk due to his political activities, his car company Tesla’s net income dropped by 40% compared to the previous year. Despite this, shareholders still seem to have significant faith in Musk, and he continues to be the world’s richest person.
Aside from financial revenue though, boycotts can be effective in many other ways. They have arguably played a central role in increasing public awareness about the issues with Musk and Amazon, triggering other forms of campaigning. Boycotts do not always focus on creating financial loss: their aim might be keeping a company’s poor practices in the media or showing the need for policy change, for example.