Good article from the New York Times.
Summary
Starbucks China is losing customers at a very rapid pace. Starbucks corporate executives are angry. Brian Niccol, the new $100 million CEO of Starbucks, sounded the alarm in October, calling the competition “extreme”. For the Chinese Lunar year, Starbucks released a pork flavor latte. It cost more than $9 and was widely seen as a disaster.
Billionaire Howard Schultz, Starbucks’s former CEO, insisted that Starbucks would not enter a price war in China. He claimed “as chinese customers become more knowledgeable about coffee, they will want to upgrade from lower-end or discounted products”
Your neighbors pay your salary. The more money in your community the more there will be for your salary.
Sometimes you’re likely to want to get groceries.
Sometimes you’re likely to want to go to restaurants.
Sometimes you’re likely to need to get housewares.
Sometimes you’re likely to need services from plumbers or mechanics or electricians.
If you choose your local community, that money stays in your community, and it’s likely to make it back to you.
If you buy from a company headquartered in a different city, the money you spend goes to that other city.
So next time you’re buying a burger and fries, check out your local restaurants.
I don’t disagree but a lot of chains rely on franchisers, who can still be a neighbour. Also the employees can still be your neighbour. Also the supplier can be your neighbor. Buying local is definitely a good choice, likely the better choice, but not all ‘companies headquartered in a different city’ are equally evil. Also because economy of scale is a thing. That’s why you’re not talking about ‘companies headquartered in another street’ for example.
All true! But the profits still get siphoned off elsewhere. My Lowe’s employs us locals, but the hardware store downtown doesn’t exist to provide shareholder value.
Again, you’re right. Non all non-local sellers are evil capitalists, hell bent on making us poor.