This shrewd understanding, he told TODAY Food in an interview, is why despite recently witnessing inflation rates hit a 40-year high, he’s sold his iced tea drinks at the same exact same price for years.
Best known for its cherry blossom aesthetic, hefty 23-ounce size and reliable 99-cent price tag, Arizona iced tea is one of those gas station staples whose prices make it a sure and sound go-to like your mom’s lasagna or the rhythms of Old Faithful.
In a now-viral article published last week, the LA Times posed the question: "As inflation soars, how is AriZona iced tea still 99 cents?".
After all, an increase in price for a retailer means a change in what a consumer might purchase from them altogether.
At the time, a gallon of whole milk was $1.13, a gallon of gas was the exact same and a can of Arizona iced tea was 99 cents.
Still, through the decades, Arizona iced tea has held the line.
Instead of cranking up the value of its iced tea, the company has opted to snip out the extra expenses that might increase the price. »
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