A 9% decline in sales at Starbucks in Mexico has been attributed by one analyst to a reaction against Donald Trump’s election as United States president.
There were calls on social media for a boycott of Starbucks and other U.S. brands, including Ford Motor Company, Coca-Cola, McDonald’s and Costco, after Trump took office in January.
The #AdiósStarbucks hashtag trended on Twitter, triggering a response by multi-brand restaurant operator Alsea, which said in a statement that the Starbucks brand in Mexico is its own property and that the company itself is 100% Mexican-owned.
The decline in sales was calculated by Banorte-Ixe analyst Valentín Mendoza Balderas based on conversations with Alsea staff and his own estimates. Alsea doesn’t break down its sales figures by brand.
It was Intercam analyst Fernanda Padilla who claimed the results were due to the boycott.
“It was indeed the effect of that boycott,” she said, but added that there is no hard or official data from Alsea on the level of its effect.
The company acknowledged the fallout in an email yesterday.
“For a few days we saw an impact on Starbucks’ sales in Mexico due to the context,” said spokesman Mario Paez. “It was quickly offset by the company providing information on the link it has to our country, its relationship with Alsea, which is a 100% Mexican-owned company, and its connection to the community.”
Source: El Financiero (sp)