When we think about getting a new camping cooler, probably the brand you would love to go with is Yeti. Definitely, Yeti has carved out a niche for itself in the camping cooler industry. In fact, owning a yeti cooler has become a status symbol for the campers. The aesthetics of the cooler, the specification of the cooler, superior-build quality has infused the trust of the brand in the customers. Well, most of us would be familiar with the product line up of the brand and only a few would be familiar with the history of Yeti cooler. So, let’s get started with how Yeti coolers became so popular and why the brand is revered most among the outdoorsmen.
Founded by Ryan and Roy Seiders in 2006, the Austin-based founders wanted to redefine the concept of coolers. Earlier, at that time, the coolers that were supposed to keep ice for a longer time disappointed in this aspect. Another thing that invoked the two Yeti founders was that these coolers were easily breakable during a minor collapse. Sometime, the latches would get broken and the handles were not durable. They wanted a cooler that could keep things cool for a longer period than the normal coolers. So, one fine day, when they both went out for fishing, an idea got stuck in their mind to reinvent the coolers and to reconceptualize the definition of cooler since these coolers were not up to the task.
The brothers had earlier worked up their father where they would get their hands filthy with the working equipment to design something new. After getting it done with the durability and strength of the cooler, the biggest threat that remained on the way was the design of the cooler. Then, at a trade show, the duo spotted an import at the local store and the quality of the product was exactly what they were looking for. So, Roy came up with an idea of associating himself as a distributor of the manufacturer and started marketing the products. While he was definitely boosting the sale and making his progress, there was no sign of improvement in the product that they were manufacturing on their own. Soon, they heard of the plant in the Philippines and earlier, they were indecisive about whether or not, they should go the Philippines. The idea of taking a trip to the Philippines was not bad and they convinced themselves to go with the idea. When they reached the factory, the brothers were really impressed after witnessing how the people have taken their abilities to the next level and this was what they were looking for.
The next biggest challenge that came now was to grow the brand and boost the sale. At the time of the entry of Yeti, there were many dominating brands including Igloo, Coleman and competing with them was a real struggle. The base price of these coolers were just $30 and at that time, convincing people to go for $300 Yeti cooler was really going to be hard. In fact, who would consider getting $300 cooler when they can get the cooler $30. Who would agree to the fact that Yeti coolers were more durable and keep ice longer for more period unless the customers give it a try themselves?
Well, to grow their brand, the founders called out for the professional fishermen and gave their coolers to test for free. All they wanted a video testimonial to verify their claims and at that time, no brand had not used this approach to build their trust and Yeti founders were the only ones to put this approach into use.
Gradually, Yeti coolers started to grow and tapped into the new world of coolers. By 2011, the Yeti brand had accumulated $29million as revenue. In just 3 years, the figure grew and multiplied itself much more times, reaching $147 million by 2014. With time, the product line up of Yeti brand started to grow and things became even exciting. The brand included soft-sided coolers under the Hopper Series. If you talk about today, the brand has definitely become a leading destination for the fishermen, hunters, and campers and they are not a bit hesitant about placing their trust in the brand. Well, it is not like Yeti is not facing any competition with the rest of the brands. It is just that the brand is coming up with the ideas of improving their product and constantly tries hard to manufacture the best coolers.
