Connect with us

Hi, what are you looking for?

Editor’s Pick

Entrepreneur takes financial hit to protect customers from rising cost of living

In 2022, mobile phone accessories manufacturer juice donated £70k worth of desperately needed chargers to the Ukraine.

What the company did next is an example of selfless business practice and the ultimate act of customer care.

Founder and CEO of juice, Jolyon Bennett, made the decision NOT to put up the prices on any juice products, despite a rise in inflation in the UK and the economic impact of foreign issues such as the COVID-19 pandemic, the Russian invasion of Ukraine and post-Brexit trade.

As a result, the ownership of juice took a financial hit and the company’s profitability is the worst it has been for 10 years. Even with the cost of goods increasing 15% due to the exchange rate, the team stood by not moving on its prices to save customers a few pounds to spend on necessities.

The decision to keep prices the same was driven by a genuine motivation by the juice team to give their loyal customers a bit of a break during such hard times. They also felt that their retailers shouldn’t have to increase their prices in an attempt to protect consumers further.

Bennett, commented: “We at juice are very grateful to our retailers and ultimately our customers for their support over the years. 3.2 million customers bought at least one juice product this year, and we felt that the last thing they needed was to see their shopping bill go up any further. By way of support to our customers, we decided NOT to increase our prices in 2022, but instead take a hit on the fallout from this and just suck it up.”

Last spring, the brand launched its ‘juice Made Mindfully’ campaign as an extension of its ongoing sustainability initiative. The campaign was designed to help reduce the amount of virgin plastic in the world and to utilise recycled post-consumer waste collected from oceans, beaches and landfill sites instead.

Juice succeeded and became the first mobile phone accessories manufacturer in the UK to remove all single-use plastic from its products and has just been named a finalist in the Sustainable business category of the Business Champion Awards.

Jolyon has ensured absolutely no compromise on cost or quality in doing so – in fact, the entire range looks and feels exactly the same!

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

REUTERS A landmark lawsuit by the US Justice Department against Alphabet’s Google over its dominance of advertising technology could help rivals and websites that...

News

North Atlantic Treaty Organization/Flickr STOCKHOLM — Swedish and Finnish hopes of quickly joining NATO (North Atlantic Treaty Organization) have run into an obstacle in...

News

Egg vendors arrange their products for sale at a store along Blumentritt in Manila, Jan. 26. Filipinos are grappling with soaring prices of food,...

News

ICC prosecutor authorized to reopen Philippines drug war investigation – BusinessWorld Online ...

News

Photo via freepik The past years saw climate change, defined by World Health Organization (WHO) as “the change in climate in time due to...

News

At Christmastime, monster waves and winds battered the 23-year-old Tubbataha Ranger Station. (Inset photo) Metro Pacific Investments Foundation, Inc. committed to provide an additional...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.