Ultimately businesses want to sell products and make profits. That means that businesses will raise prices until they get pushback from the consumer.
Interestingly though, through all the inflation post-Covid, consumers just paid the price and tried to raise their own salaries to afford it. But actually, not buying is what stops the inflation spiral. Thank goodness they’ve had enough!
When we started Barefoot, we wanted to give the country a good five-dollar bottle of wine, but because we were only five dollars, we were perceived as “cheap”.
Then a big round of inflation happened and folks who were buying at the 10-dollar price point were suddenly looking for similar quality at 5 dollars! They discovered our award-winning wines!
We are relieved that consumers are realizing their power and hope they use it sooner next time inflation happens.
Check out this NBC report: https://lnkd.in/ggdVi_gG
Michael Houlihan and Bonnie Harvey co-authored the New York Times bestselling business book, The Barefoot Spirit: How Hardship, Hustle, and Heart Built America’s #1 Wine Brand. The book has been selected as recommended reading in the CEO Library for CEO Forum, the C-Suite Book Club, and numerous university classes on business and entrepreneurship. It chronicles their humble beginnings from the laundry room of a rented Sonoma County farmhouse to the board room of E&J Gallo, who ultimately acquired their brand and engaged them as brand consultants. Barefoot is now the world’s largest wine brand.
Beginning with virtually no money and no wine industry experience, they employed innovative ideas to overcome obstacles, create new markets and forge strategic alliances. They pioneered Worthy Cause Marketing and performance-based compensation. They built an internationally bestselling brand and received their industry’s “Hot Brand” award for several consecutive years.
They offer their Guiding Principles for Success (GPS) to help entrepreneurs become successful. Their book, The Entrepreneurial Culture: 23 Ways To Engage and Empower Your People, helps corporations maximize the value of their human resources.
Currently they travel the world leading workshops, trainings, & keynoting at business schools, corporations, conferences. They are regular media guests and contributors to international publications and professional journals. They are C-Suite Network Advisors & Contributing Editors. Visit their popular brand building site at www.consumerbrandbuilders.com.
To make inquiries for keynote speaking, trainings or consulting, please contact sales@thebarefootspirit.com.
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