by Gina Cassini | Top Right News
President Donald J. Trump in January signed an executive order to freeze immigration from 7 countries (identified by the Obama Administration itself in a 2011 order) from which ISIS fighters have snuck into Western countries disguised as “refugees.”
The left-wing immediately announced its violent opposition to Trump’s reasonable, completely legal plan, launching a legal challenge, and temporarily snarling the order in the courts.
But some companies publicly went against the new President, expressing their support for Muslim “refugees.”
The most prominent company to do this was coffee giant Starbucks, whose CEO Howard Schultz, a strong Hillary Clinton supporter, announced plans to hire 10,000 refugees worldwide in response to Trump’s order.
Well one month later, Starbucks may well regret that announcement. It’s investors certainly will.
That’s because, according to the Google/YouGov Brand Index, consumer sentiment on Starbucks has plummeted by a stunning 67% since they announced their opposition to Trump.
According to YouGov this is a very large drop “normally associated with a scandal or health scare” such as the Chipotle Mexican Grill eColi panic a few years back.
From Yahoo News:
Starbucks’ brand has taken a beating since the company announced plans to hire 10,000 refugees worldwide in the next five years in response to Donald Trump’s executive order intended to prevent refugees from entering the US.
The coffee giant’s consumer perception levels have fallen by two-thirds since late January, according to YouGov BrandIndex.
The perception tracker measures if respondents have “heard anything about the brand in the last two weeks, through advertising, news or word of mouth, was it positive or negative.”
Wow…that is some drop. And investors have suffered along with the company, as Starbucks stock has been left behind during a massive upmove in the stock market since the end of January. In that time, both the Nasdaq index, and competitor McDonalds have both moved sharply higher, with Starbucks still mired in decline.
And based on its experience, YouGov says that the consumer backlash will impact the chain’s bottom line. that’s because — in just one month — there has been a 22% drop in consumers who said they’d consider buying from Starbucks the next time they were craving coffee.
YouGov noted how many customers supported boycotts online. “Upon hearing about your decision to hire 10000 refugees instead of Americans I will no longer spend any money at Starbucks,” one such Facebook user wrote on Starbucks’ page in late January.
Looks like blind liberalism — and disregard for the safety of Americans — is not only stupid, but horrible business strategy as well.