Nobokontho Desk: Since the outbreak of the Israeli-Palestinian conflict in November last year, the sales of Coca-Cola and Pepsi have been steadily declining, while domestic cola brands are gaining prominence.
Mojo, a soft drink brand by the local company Akij Food and Beverage Company, has garnered significant consumer support with its We Support Palestine campaign.
Akij Beverages has pledged to donate a portion of each soft drink sale to a Palestinian fund, tapping into the strong solidarity of the Bangladeshi people towards Palestine.
This initiative has already shown its impact in the market, with Akij Food’s Chief Marketing Officer, Maidul Islam, reporting a remarkable increase in sales since the campaign’s launch. The funds raised for Palestine through the campaign have reached Tk 15,5812,707 as of May 3rd.
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For years, Bangladeshis favored Pepsi or Coca-Cola for their carbonated drinks, but since the Israeli offensive in Gaza, many consumers have turned to social media to express solidarity with Palestine and boycott products from Western companies perceived to support Israel.
Despite various discounts and promotions offered by Coke and Pepsi, sales in the Bangladesh market have not seen an increase, even during the typically slow winter months when companies usually roll out special offers.
Market research indicates that Coca-Cola, which previously held a dominant position with a 42% share of the cola market in Bangladesh, has experienced a significant decline, losing at least 23% of its market share since the conflict began.
Local competitors in the carbonated soft drinks market, such as Akij, Pertex, Pran, and Meghna, have made substantial progress, collectively contributing BDT 5 thousand crores to the estimated annual market value.
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