“Pride goeth before destruction, and an haughty spirit before a fall”, from Proverbs chapter 16 verse 8, sums up Fullers attitude towards the pricing of its London Pride. Fullers have been playing around with the price of a pint of London Pride. After the last budget a pint of London Pride went down by a penny to £3.49p, since then they have raised the price of Pride to £3.65p a rise of 4.5% and inflation is only 2.8%.
I wrote to the Chair of Fuller’s Brewery and pointed out, amongst other things, that their strategy was wholly focussed on maximising profits for the shareholder but little or no thought was spent on the customer who provides them with their profits. I also threw in to the fray the notion that if they keep hiking their prices, demand for beer will cease to be inelastic and become elastic and profits will fall. Fuller’s reply did not address the points I raised. Furthermore I was sent some loyalty cards that were not in the envelop – they could not even get that right and if they had arrived they would have been sent back.
“It is high time that Fullers Smith and Turner started to focus on its customers and the way to do that is to make sure the shareholders wake up and settle for a little less and that the customers are not continually fleeced with price hikes greater than the current rate of inflation.
However I suspect that like John the Baptist I am the “voice crying in the wilderness” and Fullers answer will be a couple of bar persons, in my local pub, called Herodias and Salome…………………….”
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