Consumers’ perception of the Trump brand has tanked since the tape of the Republican nominee speaking crudely about women surfaced last week, according to a survey by Brand Keys.
Last year, the Trump name — which is prominently displayed on high-end casinos, hotels, wineries, and more — increased the perceived value of products and services anywhere from 20% to 37%, according to Brand Keys.
That’s because the Trump name at the time stood for “wealth, luxury, and glamour, and for some, wretched-excess,” writes Robert Passikoff, Brand Keys’ founder and president.
Now in the wake of the tape scandal, the “added value” of the Trump name has dropped precipitously, according to the firm’s October 9 poll of 1,536 registered voters across the US.
For example, the “added value” of Trump’s brand in TV and entertainment — the category where his “added value” is highest — has dropped from 43% to 30% between June and the most recent poll.
His brand value dropped 8 percentage points in real estate and 6 percentage points in country clubs and golf clubs in the same period.
A brand’s perceived value has a direct impact on where shoppers choose to spend their money.
In other words, there’s more than a bid for the White House at stake for Trump in this election, as his performance could have a lasting impact on his businesses.
The candidate’s hotel chain started losing business before the tapes even surfaced, according to some industry experts.
Jack Ezon, president of travel company Ovation Vacations, told the Boston Globe in September that business was down at least 30% at several of Trump’s hotel properties.
If Trump is mired in another scandal like the “Access Hollywood” tape, then things could get even worse for the Republican nominee.
“Consumers will be distancing themselves from Trump-branded products,” Pasikoff told the Wall Street Journal.
Business Insider Emails & Alerts
Site highlights each day to your inbox.