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☆ People aren't spending like they used to and it's forcing companies like Nike and Walgreens to make drastic changes
▼ + stars: | 2024-06-29 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. People are still spending money, but there's an uncomfortable awareness that years of price hikes mean each dollar doesn't go as far as it used to. "This consumer remains very cautious, specifically when you think about larger ticket discretionary purchases," he told Oppenheimer analysts Wednesday. "Why have people who are having a hard time paying their rent have to pay more for our drink?"

Persons: —, they're, Joseph Lewis, Marvin Ellison, Oppenheimer, John David Rainey, Federal Reserve Banks, San Francisco Fed, Don Vultaggio Organizations: Service, Business, Bloomberg, Nike, Walgreens, Walmart, Federal Reserve, San Francisco, Philadelphia Fed, Iced Tea Locations: San Francisco, Philadelphia

☆ Arizona Iced Tea founder explains why he's bucked the inflation trend and never raised its iconic 99-cent price in 32 years
▼ + stars: | 2024-06-27 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +1 min

The iconic 23-ounce cans of Arizona Iced Tea still sell for 99 cents after 32 years. Arizona founder Don Vultaggio told Today he doesn't want to raise prices on consumers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDon Vultaggio, the cofounder and CEO of the company behind Arizona Iced Tea, still sells his product for the same price as when it launched 32 years ago — 99 cents. Arizona's signature big cans of iced tea were a quick success, and Vultaggio still runs the company to this day with the help of his sons.

Persons: Don Vultaggio, —, Vultaggio Organizations: Arizona Iced, Service, Arizona, Business Locations: Arizona, New York

☆ Why AriZona Iced Tea CEO won't raise 99-cent price: 'It's my little way of giving back'
▼ + stars: | 2024-06-27 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

AriZona Iced Tea first put its iconic 99-cent cans in stores in 1992. the brand's chairman and founder Don Vultaggio said in a recent interview with Today. And while Arizona has expanded into selling merch and alcoholic beverages, it is still focused on selling as many 99-cent cans as it can. Sign up today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: Don Vultaggio, Forbes, Vultaggio, doesn't Organizations: CNBC, Coke, Pepsi Locations: AriZona, , AriZona, Arizona

☆ We’re way past hard seltzer: The spiked drinks keep coming
▼ + stars: | 2023-08-05 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

What started the spiked beverage trend? Spiked beverages have been around for a while. For decades, it was “generally frowned upon” for non-alcoholic beverage brands to enter the alcoholic beverage market, Stanford said. Hard seltzer, meanwhile, had $3.8 billion in sales over the past 12 months, a 14% decline compared to last year. The nostalgia generationEvery year, the alcoholic beverage industry gets a new class of (legal) drinkers to sell to.

Persons: It’s, Casey Brooke Lawson, ”, Duane Stanford, Stanford, Jamie Wideman, Caleb Bryant, seltzer, Seltzer, Timothy A, Clary, Dan White, “, Bryant, Adam Rogers, Coke, Jack Daniel’s Tennessee, Brown, Forman, Absolut, Nielsen, Hard seltzer, who've, Ilene Bergenfeld, SunnyD Organizations: New, New York CNN, MTN, Beverage Digest, Brands, “, Molson Coors, CNN, Coca, Getty, Coors, Jack Daniel’s Tennessee Whiskey, Delight, Harvest Hill Beverage Company Locations: New York, Fresca, AriZona, Mintel, United States, AFP, Topo Chico

☆ Barbenheimer Memes Are an Art Form All Their Own - The New York Times
▼ + stars: | 2023-07-22 | by ( Elizabeth Spiers | ) www.nytimes.com time to read: +2 min

Did the world need Arizona Iced Tea-branded Adidas sneakers marketed for 99 cents? Did they attract so many potential buyers that the New York Police Department had to shut the sale down at the pop-up store selling them? The “Barbie” marketing team absolutely understands this, and the absurd brand-collaboration drops have spread with the speed of the 1854 cholera outbreak in London. There’s a real-world Barbie dream house on Airbnb, Barbie Krispy Kreme doughnuts, Barbie rugs and a Barbie Xbox. Surprisingly, there is no Barbie Pepto Bismol, which seems like a natural fit in terms of existing I.P.

Persons: Robert Oppenheimer, Taylor Swift, Barbie, There’s, Oppenheimer, Barbie ”, “ Oppenheimer, launders Organizations: “ Raiders, Adidas, New York Police Department Locations: Arizona, London

☆ AriZona Iced Tea CEO vows to keep the 99-cent price tag 'for as long as we can'
▼ + stars: | 2022-10-13 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

Although inflation remains near its highest point in over 40 years, one grocery-store staple has maintained its 99-cent price tag: AriZona Iced Tea. "For as long as we can, we're going to hold our price," he says. One way the family-owned company is able to maintain its low price point is by not trying to duplicate how other larger beverage companies operate. Another way AriZona aims to beat rising manufacturing costs is by increasing the number of products sold at its low price point. The company focuses on increasing its sales volume to avoid passing on a price hike to consumers, Vultaggio says.

☆ The surprising backstory of AriZona Iced Tea’s name
▼ + stars: | 2022-08-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

So he settled on “Santa Fe” for the name of the drink. “Having a name associated with a lifestyle, which is an environment and climate that made you want to grab a refreshing iced tea. That’s why the name seemed to make sense to me.”AriZona was almost called Santa Fe. The “Snapple Lady” commercials turned the juice and iced tea company into a huge success, as sales boomed throughout the 90s. Having had his own success with a malt liquor business, Vultaggio and his partners pivoted to selling iced tea in the same-sized 23-ounce cans as their malt liquor.

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