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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The boycott of American brands revives local industries that have been dead for 100 years in the Mid

    Rocky
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    • Post n°1

    The boycott of American brands revives local industries that have been dead for 100 years in the Mid Empty The boycott of American brands revives local industries that have been dead for 100 years in the Mid

    Post by Rocky Sat 27 Jan 2024, 4:13 am

    [size=35][size=35]The boycott of American brands revives local industries that have been dead for 100 years in the Middle East[/size]

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    Economy

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    01-27-2024 | 01:34
    The boycott of American brands revives local industries that have been dead for 100 years in the Mid Doc-P-480056-638419341603621823
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    Al-Sumaria News - Economy Economic

    reports recorded an actual decline in sales of famous American brands in the Middle East after the Gaza events, and the growth of local brands that enhanced their competitiveness in their countries.


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    A report by Bloomberg Economics indicates that the growing boycott campaigns, especially for American restaurant and café agencies, have caused a decline in sales for some brands, including Coca-Cola, to a decline rate of more than 20%.



    The newspaper quoted documented cases of people and college students in Egypt who left sitting, for example, in the Starbucks cafe after they had become accustomed to it.

    The newspaper quoted Cairo University student Naira Ahmed as saying: “My friends and I used to go to Starbucks all the time, but now it has become shameful to see you in one of those places. This is the least we can do. So why should I buy from these Western companies?”

    This trend is spreading in parts of the Middle East and even beyond, as many shoppers in the region, as well as Islamic countries such as Pakistan, avoid major foreign brands, reducing sales for some and causing public relations problems for others, driven by a feeling of anger towards the United States and Europe. For not making extensive efforts to urge Israel to end its war on Gaza.

    The newspaper notes that the shares of Americana International Restaurants, the owner of the KFC, Pizza Hut, Krispy Kreme, and Hardee’s franchises in the Middle East, declined by 27% on the Saudi Stock Exchange during the months following the outbreak of the war. Some analysts have damaged their profits as a result of the boycott.

    The newspaper shows that the Middle East is home to tens of millions of young consumers, which enhances the growth of brands, at a time when developed markets are saturated. However, the region faces particularly profound political and operational complexities.

    She explains that in Jordan, many Starbucks and McDonald's stores are still largely empty despite the start of the boycott campaign in October. Passersby usually see empty seats and booths occupied by no one except workers, with cashiers hunched over their tables. Supermarkets there also place signs on a large number of foreign brands stating that they are “boycott goods”.

    As for Kuwait, Starbucks branches in crowded areas have witnessed a decline in customer flow since early October, with the boycott boosting local cafe sales.

    At the same time, many local companies in the Middle East said that they benefit from the boycott of foreign brands, as the newspaper refers to a 100-year-old Egyptian brand of soft drinks, which has struggled to revive its dwindling popularity, and has achieved a significant increase in its sales during the past three months.
    https://www.alsumaria.tv/news/economy/480056/%D9%85%D9%82%D8%A7%D8%B7%D8%B9%D8%A9-%D8%A7%D9%84%D9%85%D8%A7%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%A7%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9-%D8%AA%D8%AD%D9%8A%D9%8A-%D8%B5%D9%86%D8%A7%D8%B9%D8%A7%D8%AA-%D9%85%D8%AD%D9%84%D9%8A%D8%A9-%D9%85%D9%8A%D8%AA%D8%A9-%D9%85%D9%86%D8%B0-100-%D8%B9%D8%A7%D9%85-%D9%81%D9%8A-%D8%A7%D9%84%D8%B4%D8%B1%D9%82
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