True? - EcoTech Marine Price increase

[reef-rc]

Per the title, is this true? Across the product line?

 

[Highgrade]

Yes it is. Just verified it.

 

[Lor]

dang, as if it isnt expensive already

 

[WWIII]

When? How much?

 

[reef-rc]

Email from BRS indicate effective - 2/ 1.

How much - google ;Droid indicate 10%

 

[infinite0180]

I heard this awhile back. I went ahead and got an mp10 a week ago just incase. My first ecotech product... seems nice but im not sure i would spend anymore than i did on one. Seems overpriced as it is...

 

[TheHarold]

I heard this awhile back. I went ahead and got an mp10 a week ago just incase. My first ecotech product... seems nice but im not sure i would spend anymore than i did on one. Seems overpriced as it is...

The good thing is that there is a good market for used ones too- they last a looooong time. And there are parts available- they’re repairable.

 

[jsvand5]

Seems like an odd business decision to raise prices while Chinese competitors are continuing to improve quality at a fraction of the cost.

 

[TheHarold]

Seems like an odd business decision to raise prices while Chinese competitors are continuing to improve quality at a fraction of the cost.

Do you know their financial details? I’m sure they did the math . It’s not a kid in a garage... it’s a big company.

 

[Skynyrd Fish]

Not to mention patents expire, but I don’t know when.

 

[jsvand5]

Do you know their financial details? I’m sure they did the math . It’s not a kid in a garage... it’s a big company.

Big companies make mistakes all the time. Technology is getting cheaper while competition is getting stronger. Raising prices in response to more competition is a curious move.

 

[TheHarold]

Big companies make mistakes all the time.

Sure, true. I just thought it was interesting that you think you know their business finances better than they do

 

[infinite0180]

The good thing is that there is a good market for used ones too- they last a looooong time. And there are parts available- they’re repairable.

Ya i was origonally going to pick up a used one, but for the price they sell for used i said screw it and got a brand new one. Atleast i know i can get most of my money back if i decide i want to sell it...

 

[jsvand5]

Sure, true. I just thought it was interesting that you think you know their business finances better than they do

I don’t, never claimed I did, and they don’t know the effect of a 10% across the board price hike on sales. Should be interesting to see how it plays out.

 

[ReefyB]

Maybe they are going to try a more aggressive sales promotion(s) this year. They can put it on sale 10% a bunch of times throughout the year (instead of just the normal one or two times) and on Black Friday do 20% off while not taking any additional losses.

 

[JDowns]

The increase is most likely due to tariff's going into effect with products coming out of China.

Virtually everything I get from Digikey has been impacted.

https://www.digikey.com/en/help/tariff-information

 

[randyBRS]

You know, I'm almost certain this is in response the changes in tariffs, which looks to be upwards of 25%. I'm sure that EcoTech held out as long as they absolutely could since the action went into effect, July 6th, 2018.

I've hardly seen manufacturers and vendors actively encourage their customers to make purchases prior to price increases personally, but I'd say kudos for EcoTech for the announcement. Also I wouldn't be surprised if other manufacturers, with products that are subject to the same tariffs, begin to follow suit. This may be something to consider for reefers in the market for some reef gear that might also be affected.

 

[jpas]

As an owner of an American manufacturing company, the price of raw materials have gone up by at least 20%. This is for materials from domestic (USA) mills. The only reason for this is greed. Nothing to do with the 25%tariffs.

WRT ecotech’s patents, there is a substantial amount of prior art that dates back to the 60’s for use in nuclear and chemical tank applications. Also there patent expires around 2026!

 

[pelphrey]

Raise the price and then offer discounts?!?! Makes you feel like you are saving money?

 

[AlgaeBarn]

As an owner of an American manufacturing company, the price of raw materials have gone up by at least 20%. This is for materials from domestic (USA) mills. The only reason for this is greed. Nothing to do with the 25%tariffs.

WRT ecotech’s patents, there is a substantial amount of prior art that dates back to the 60’s for use in nuclear and chemical tank applications. Also there patent expires around 2026!

I'm guessing you work with steel or aluminum? The domestic mills increased their price once the imported price raised. Interesting to hear about the prior art there.