With a lot of opportunities in the outdoor lifestyle for product improvements and introductions, we have brainstormed a list of new concepts that have the potential to generate sales: • Reusable Rambler made from 100% recycling – product line expansion o YETI’s main drinkware, the Rambler is doing exceptionally well as drinkware revenue is up 34% over the 2018-2019 fiscal year. By introducing an environmentally friendly version of the beloved rambler, this would undoubtedly spark interest among past consumers and environmentalists alike. • Modular Line for Roadie 24 Hard Cooler – product line expansion o o With the introduction of the Roadie 24, the cooler quickly took over as the top seller in its category. However, despite its success, the product lines limited variety and customizability is problematic as there is massive potential for sales in this area. By creating a modular version of the Roadie 24, that is fully customizable in every way (from clamp materials to lid color) consumers will be able to specify the product to their standards and have something unique that stands out from the rest. It is important to invest R&D in this as soon as possible as sales in the cooler category have leveled out in response to the current pandemic. • Drinkware made from reusable plastics instead of metal for athletics – product line addition o YETI coolers are made from a UV-resistant polyethylene plastic that can withstand freezing dry ice temperatures as well as high heat. While there is a lot of variety among the drinkware selection, none of the options are made of this material. Adding a new line of athletic products that are made from this material • Growler line for beer – product line addition o While the ‘barware’ product category includes accessories like beer can insulators and pint-sized glasses, there isn’t a growler line for beer enthusiasts. With the rise of microbrewing across the U.S and Europe, a well-insulated growler from YETI could be a smash hit and increase drinkware sales. • Thermochromic color introduction – product improvement o Adding a thermochromic color option that responds to temperature is a fun way to add a visual twist on all YETI products. This improvement to style and design won’t lead to any drastic change in awareness or sales but should be considered if there is enough room in the R&D budget.
The post With the rise of microbrewing across the U.S and Europe, a well-insulated growler from YETI could be a smash hit and increase drinkware sales. appeared first on My Perfect Tutors.