By Maxine Shapiro, KERA 90.1 business commentator
Dallas, TX – For as long as I can remember, it's been open season on the French, most of it being light-hearted. Kinda how Letterman teases Richard Simmons. But the current mean-spirited boycott is causing real damage, and not just with those who wear berets. Enough already. I'm Maxine Shapiro with KERA Marketplace Midday.
Last week, it was revealed that one in three U.S. consumers decided the war is not over. That's how many are still willing to boycott goods from France and Germany, so says a survey taken by Weber Shandwick, one of the world's leading public relations agencies. 43% of those questioned said they were less likely to buy French products. They were a little more forgiving with Germany - only 36% announced they would not purchase items from that country. And across the ocean, a similar survey was taken. An average of 12% of people in France, Germany and Britain would boycott U.S. products over the war.
Isn't this lovely? We boycott them, they boycott us, and both economies feel the pain. Let's just look at our boycott of French goods. Very simply, the first victim, bar none, is the U.S. retailer, not the foreign wholesaler. Economist and columnist Patrick Cox explains how, almost without exception, "stores pay for products up-front or on a deferred but predetermined basis." So when you stopped buying those luscious French cheeses or fragrant bottles of French wine, you were hurting your friendly storeowner. And if the boycott lasts another buying cycle, then the Americans - who sell, distribute and market French imports in the U.S., will suffer the damages. French fries are made in America, as is French's Mustard. I'm reluctant to tell you Coca-Cola has a major interest in Evian. Unless one is obsessed, you're never going to know everyone who owns or has interest in French products.
This is why this morning, in an open letter in a French financial daily paper, 11 French and U.S. businesses are pleading for an end to this squabbling. No one profits if this continues. The war is over. Let's quit harming each other. For KERA Marketplace Midday, I'm Maxine Shapiro.
Marketplace Midday Reports air on KERA 90.1 Monday - Friday at 1:04 p.m.
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