Reactions from all over the world continue to Israel’s attacks, which have been continuing since October 7, 2023.
In this process, consumers also show their reactions against global companies that support Israel directly or indirectly by “boycotting products”. Boycott calls that spread rapidly on social media direct consumer preferences, causing economic losses for these companies.
– “THINGS ARE GOING BAD FOR THEM”
Bursa Uludağ University İnegöl Business Faculty Lecturer Assoc. Dr. Yüksel Okşak made evaluations to the AA reporter about consumers boycotting products.
Stating that they see the success of consumer reactions in the financial statements and policies of international companies, Okşak said, “According to the global store sales data of the famous coffee chain, there was a 7 percent contraction in the last 3rd quarter. More importantly, the profit per share of the same coffee chain decreased by 25 percent compared to last year.” “It dropped to 80 cents. This coffee chain even suspended announcing its financial data for 2025. This shows that there will be some problems and troubles in the 2025 data.” he said.
Stating that KFC had to close 108 branches in Malaysia, Okşak said, “There are too many substitute products. There is no need to disclose any data to understand those who are harmed. When you follow their policies, we see everything. Name and CEO change, branch closures.” Some of them. You can tell from here that things are going bad for them.” he said.
– “COUNTRIES ARE CREATING THEIR OWN BRANDS”
Okşak pointed out that this process also enabled countries to create their own brands, and said that especially in the last year, advertisements for locally produced dishwashing detergent brands began to be made.
Explaining that this can be shown as an example of every choice turning into an economic reality, Okşak stated that the stance should be maintained and that all that has happened shows what the boycotted companies have lost.
– “BOYCOTT IS MORE MEANINGFUL THAN IN THE PAST”
Pointing out that the sole aim of all companies is to “conquer the consumer kingdom”, Okşak said, “In a world where competition is intense and the consumer has the main say, boycott has become more meaningful than in the past. We actually see each of the consumers as an activist, so to speak.” he said.
– “AA HAS TAKEN AN IMPORTANT STANCE FROM THE FIRST DAY”
Okşak stated that the success of the boycott depends on constant reminders and said:
“I like this aspect of Anadolu Agency. It has taken an important stance from the first day. Another issue is the power of social media. If we can still keep the boycott issue alive today, one of the main reasons for this is social media. The world does not sleep, and neither do those around us. Let us not sleep either. No one from us “He doesn’t want us to go anywhere with guns and tanks. There is a world where these companies cause brutality and genocide.”
– BOYCOTTS AFFECT THE FINANCIAL STRUCTURE OF GLOBAL COMPANIES
The impact of boycotts on the turnover of global companies is also reflected in the figures.
While the global comparable store sales of the famous coffee chain Starbucks in the 2024 fiscal year decreased by 2 percent, the company’s comparable store sales in the fiscal year decreased by 2 percent in North America and the USA, 4 percent in international markets and 8 percent in China.
While McDonald’s openly supported Israel’s operations, it was seen that its profits melted after the reactions.
The company’s global sales decreased by 1.5 percent in the third quarter of 2024, falling for two consecutive quarters. The company’s net profit decreased by 3 percent to $2.26 billion in the third quarter of 2024. The company made a profit of $2.32 billion in the same period of the previous year. The company’s profit per share, which was 3.17 dollars in the third quarter of 2023, decreased to 3.13 dollars in the first quarter of 2024.
US restaurant chain KFC temporarily closed its 108 branches in Malaysia following the boycott launched to react to Israel’s attacks on Gaza and support the Palestinian people.
Source: www.star.com.tr
