quote:I have to chuckle at this now. I was actually thinking along the same lines as you. Guess we are all proved wrong. They seem to be doing very well for themselves.
I suspect this little company will fail. I understand some people are very practical and will only pay for what for what they get, but Yeti has created a brand that is worth millions and people buy it because of it. The debate will always be those who think you shouldn't pay more than $50 for an Igloo that works as well as a $400 Yeti, but there is little market space for someone who wants to pay $200 to be like the $400 Yeti. The market is getting flooded with cheap knockoffs, but these RTIC coolers fail to attempt to be uniquely their own. I mean they appear to use the same molds, hinges, drain plugs, etc. as Yeti. This is all good, but you can't claim to be both cheaper and better. If the market strategy is to eliminate marketing costs and just sell a cheap knockoff that's fine, but understand most Yeti sales are to folks who use it recreationally and buy it because of the brand. If you want to see how cheap knockoffs fare, look no further than JC Penny's failed attempt to knock off Polo shirts with their Knights of the Round Table. It was the identical logo as Polo except instead of a polo mallet, the rider had a joust.
Does anyone even rememebr KotRT? Is Polo still in business? Did we have the same arguments back then about the need to own a $20 shirt with a $50 logo? I'm sure Polo and Yeti will both tell you there are enough people who will pay for the brand.
Turns out I am also joining that price range.
I don't think they are better. But they are comparable from everything I've heard. Which means it is still a damn good product. That I am paying half price for over the other major competition. Sounds like a win to me. Getting ready to place my order now actually....
Capitalism wins again!