The boycott continues to work. Reports from Middle East Eye, Al Jazeera, Malaysia’s Kenanga Research, and other reputable firms continue to show huge losses for major brands associated with the apartheid of Israel.
One in three people actively boycott brands associated with Israel
Muslim majority countries are leading the way in boycotting brands responsible of funding Israel’s unlawful existence and criminal wars.
In Southeast Asia, Indonesia and Malaysia are a powerful force crippling brands like McDonalds, Starbucks, and Nestle.
Kenanga Research of Malaysia, reported huge losses for Nestle Malaysia. To save face, mainstream media in Malaysia attributes the loss to “cash-strapped Malaysians” and “high inflation”. They drive this narrative home by describing the boycott as Malaysians “downtrading” to save cash.
In reality, local businesses are experiencing growth thanks to Malaysians seeking an alternative. It has nothing to do with inflation or being cash-strapped. Malaysians seek to support brands that do not fund Israel in any shape or form.
In addition, Malaysians are always more than happy to support businesses birthed within the country—an ongoing effect of former premier Tun Mahathir’s Look East Policy.
This has led to a devastating loss for Nestle.
Nestle Malaysia reports huge loss for Q2
Nestle announced its net profit for the second quarter ending June 30 2024 (Q2 FY 2024) dropped to 48.3%. That’s RM93.59 million compared to RM180.91 million net profit from last year.
Quarterly revenue fell to RM1.52 billion from its historic high of RM1.75 billion last year. That’s a 13% drop.
Local investment banks view Nestle Malaysia negatively and have moved to advise investors to sell, instead of hold.
Citizens of Muslim-majority countries are doing what they can to defend Palestine
The sentiment of Muslims globally is clear. They wish to join their brothers and sisters in Gaza. To aid in their defence. However, it is easier said than done.
Political and financial constraints make it impossible for Muslims to travel to Gaza. Leaders in the Muslim majority countries have called for patience and prayer. In countries in the Middle East, Muslims are exercising patience, as it is forbidden to riot or go against the leader of the country.
The least they can do is boycott brands associated with Israel. Crippling them financially. Putting pressure on corporations to rethink their relationship with unlawful Israel.
Kelana, an Indonesian interviewed by Al-Jazeera said “If I could go to Gaza to help fight against the Israeli forces, I would do it. Muslims are being killed by the Israelis every day. Because I can’t go there in person, the next best thing is to show my support by not using products affiliated with Israel.”
C-suites of big brands are pessimistic if war continues
In February, McDonald’s said that war was part of the reason international sales rose by just 0.7 per cent during the fourth quarter of 2023. A huge drop from 16.5% the previous year.
“The most pronounced impact that we’re seeing is in the Middle East and in Muslim countries like Indonesia and Malaysia,” McDonald’s CEO Chris Kempczinski said in an earnings call.
“So long as this conflict, this war is going on […] we’re not expecting to see any significant improvement.” he continued.
Unilever, a giant in FMCG have also experienced a double-digit decline in sales, especially in Indonesia.
Resurgence of local brands
In Egypt, a local soda brand is experiencing a resurgence in sales. Following a nationwide boycott of Western products associated with the unlawful Israel.
Spiro Spathis is a 100-year-old soda brand, and retailers are selling more per day compared to their previous weekly record.
“I’ve been selling their drinks for four years. There were always a few consumers who preferred Spiro over other drinks, but not many… But now, their bottles run out almost instantly. Before the boycott, I would sell four, maybe five, boxes of Spathis in a week, now I can sell as many as 50 boxes in a day if I have that many in stock,” Mohammed who owns a grocery store testifies that demand for the local soda brand is massive.
Closing thoughts
Increasingly, world leaders are pressured by citizens to rethink Israel’s legitimacy as a state. The ICJ has ruled its existence unlawful. Many independent investigators and UN experts have reported horrible war crimes committed daily since 1948 by unlawful Israel.
Business corporations are experiencing record losses. While local brands are enjoying a profitable resurgence. The message is clear.
The world is sick and tired of the double standards. The real international community is calling for an end to Israel and a restoration of Palestine as a sovereign state, free of illegal occupation.
