Elite-Strauss Skyrocketing Prices

Last Updated on Monday, 20 February 2012 22:43 Written by YWN Monday, 20 February 2012 22:31

With Israel’s cottage cheese protests all but forgotten, the consumer public is targeting Strauss-Elite, the second largest company in Israel, unwilling to accept what is perceived as price gouging. Organizers of the grassroots protest point out that it is simply unacceptable that here in Israel, where the products are manufactured, we pay significantly more than shoppers in North America.

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The company’s stock reacted negatively to the announced consumer boycott, closing down 3.5%.

This effort began a number of days ago with a photograph of the popular “Pesek Zman” candy bar on Facebook, a chocolate bar selling in New Jersey for 74 cents (2.6 NIS) while in Israel, it sells for 6.3 NIS.
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Strauss officials tried to defend the report, stating the prices in N. America are determined locally, not by the company, and there are sales now ahead of Purim.

Whatever the case, it appears the new consumer boycott is underway and it will be up to Strauss to make the next move.