The company owner of Arizona Tea revealed in an interview why he refuses to raise the famous 99c price label attached to the popular beverages.
Don Vultaggio, Arizona Tea’s owner, first released the iconic 99c cans back in 1992, over three decades ago.
Since then, the price has remained the same, unflinching despite progressive inflation rises. Vultaggio sat down with the Today Show for an interview to explain why his business has remained so successful in spite of external challenges.
“People say, ‘How do you do it?” he began.
“We make it faster. We ship it better. We ship it closer. The cans are thinner. We’re successful, we’re debt-free, we own everything. Why have people who are having a hard time paying their rent pay more for their drink? Maybe it’s my little way of giving back,” he told viewers.
For reference, in research compiled by Market Watch, the website revealed that if Arizona Tea were to keep up with market costs, and raise prices accordingly since their first release back in 1992, this would mean the 22-ounce drinks would cost 124% more, which equates to $2.22.
When he was asked about the possibility of raising prices one day, he said that he wasn’t completely opposed to the idea, but would like to maintain the 99c price for as long as possible.
“I don’t know about never, [but] not in the foreseeable future,” he told Today. “We’re going to fight as hard as we can for consumers because consumers are my friend.”
Soda brand Pepsi has also been making news during 2024, as the company was forced to recall ‘sugar free’ sodas from shelves, after discovering they were actually packed with sugar.