Marketing experts don’t expect them to have much impact, but a group of consumers, angry at the steep increases in grocery prices, have started a boycott of Loblaw Companies. They also want Loblaw to sign the industry-developed Grocery Code of Conduct. Organizers say the boycott will last the month of May.
The Reddit group behind the boycott, r/loblawsisoutofcontrol, currently has 69,000 members—but widespread media coverage of their boycott will likely swell those numbers. The boycott began Wednesday, the same day that Loblaw reported its first quarter profits, up 9.8 percent to $459 million. Revenues were $13.58 billion in the quarter, an increase of 4.5 percent over the same period last year. The company also owns Shopper Drug Mart, No Frills, Provigo, Pharmaprix, and City Market, among other banners.
