How Stanley Quenchers Became the New Craze
How Stanley Quenchers Became the New Craze
The Economics and Business Explanation
The Stanley Quencher is the new craze around the country. You have seen the reports of fights breaking out at national retailers as customers try to get their hands on the latest colors. What isn’t clear is how this 110 year old company became an overnight sensation. I sat down with
, Director of Zembrodt Center for Entrepreneurship and Innovation to discuss the truth about the economics and business of Stanley Quencher H2.O.You can learn more by watching the video.
Show Notes
Stanley's Valentine’s Day Cup Frenzy. Stanley Cup's explosive profits with a projected $750 million revenue for 2023, a 300% increase since 2019.
Economists explain this as a Veblen good or conspicuous consumption. We discuss these topics in more depth in the video. With that said, we think there is more to it.
Stanley’s success can be explained by:
Transforming brand identity and introducing fun colors.
Emphasizes functionality.
Shift from a working man's brand to one embraced by working moms.
Discusses the strategic use of influencer marketing and the influence of the buy guide.
The Takeaway - Key Lessons from Stanley
Three key lessons learned from Stanley's transformation.
The importance of functionality in product design.
Understanding consumers and seizing opportunities.
The value of scarcity in maintaining exclusivity and status.
Podcast
You can listen to a more in-depth discussion with Jeni Al Bahrani on the Econ with Dr. A podcast.
Share your thoughts?
What are your thoughts on this new craze? Do you have a Stanley?