By Majd Othman

KUWAIT: Kuwait’s business landscape appears to be more influenced by political dynamics in the region than economic factors. Despite initial concerns that the COVID-19 pandemic and financial difficulties among citizens and residents would negatively impact Kuwait’s market, it turned out that spending habits remained relatively stable.

However, the ongoing political situation, particularly attacks by the Zionist entity on Gaza and the West Bank, has had a significant impact. This conflict has led to a shift in the market, with a greater emphasis on supporting local businesses and less demand for international brands. As part of a boycott campaign against international brands with ties to the Zionist occupation, there has been a surge in interest among citizens and expats in supporting local businesses.

This increased interest has provided local businesses with an opportunity to strengthen their position in the market. Consumers are turning to local brands that align with their ethical values, and this reflects a shift in market dynamics driven by political events rather than purely economic considerations.

Rawan Al-Essa, who shares this perspective, emphasized that ethical principles have become more important to consumers than ever. During the COVID-19 pandemic and market turmoil, people continued to inject cash into the market, particularly through online shopping platforms. However, this time, the focus has shifted towards ethical and humanitarian principles.

Ali Al-Shemmari, a fashion retail business owner, noted that demand for his products and accessories increased significantly amid the conflict in Palestine. Customers have become more aware of the origin of items and are showing greater support for local production. They are also calling for a more diverse collection, enabling them to reduce their reliance on international brands.

Dalal Khalaf, a citizen who has shifted her shopping preferences toward local businesses due to the recent political events, is also closely monitoring market changes through her business specializing in market analysis. She believes that if the boycott movement against international brands continues, it could lead to a significant shift in investors’ interests towards local businesses. This would not only benefit just causes but also offer global opportunities for local businesses. Dalal cited the example of the Russian-Ukraine war, which showcased the potential impact of political dynamics on business preferences.