True? - EcoTech Marine Price increase

Discussion in 'Bulk Reef Supply' started by reef-rc, Jan 30, 2019.

  1. reef-rc

    reef-rc Well-Known Member R2R Supporter

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

  2. Highgrade

    Highgrade Valuable Member R2R Supporter Build Thread Contributor

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    Yes it is. Just verified it.
     
  3. Lor

    Lor Active Member

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    dang, as if it isnt expensive already
     
  4. WWIII

    WWIII Valuable Member R2R Supporter R2R Excellence Award Build Thread Contributor LMAS Member

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    When? How much?
     
  5. reef-rc

    reef-rc Well-Known Member R2R Supporter

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    Email from BRS indicate effective - 2/ 1.

    How much - google ;Droid indicate 10%
     
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  6. infinite0180

    infinite0180 Active Member

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    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...
     
  7. TheHarold

    TheHarold Valuable Member R2R Supporter

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    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.
     
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  8. jsvand5

    jsvand5 Well-Known Member

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

    TheHarold Valuable Member R2R Supporter

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    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.
     
  10. Skynyrd Fish

    Skynyrd Fish Well-Known Member

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    Not to mention patents expire, but I don’t know when.
     
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  11. jsvand5

    jsvand5 Well-Known Member

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    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.
     
  12. TheHarold

    TheHarold Valuable Member R2R Supporter

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    Sure, true. I just thought it was interesting that you think you know their business finances better than they do ;)
     
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  13. infinite0180

    infinite0180 Active Member

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    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...
     
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  14. jsvand5

    jsvand5 Well-Known Member

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    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.
     
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  15. ReefyB

    ReefyB Active Member Partner Member 2019

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    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.
     
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  16. JDowns

    JDowns Valuable Member R2R Supporter R2R Excellence Award Partner Member 2019 Build Thread Contributor

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  17. randyBRS

    randyBRS BRStv Host :-) R2R Supporter Gold Sponsor

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    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.
     
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  18. jpas

    jpas Active Member

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    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!
     
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  19. pelphrey

    pelphrey Valuable Member R2R Supporter Reef Tank 365 Showcase Editor Build Thread Contributor

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

    AlgaeBarn Well-Known Member R2R Supporter Gold Sponsor

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    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.
     
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