While R40 for an energy drink may seem quite exorbitant to some, PRIME drinkers may soon have to pay tenfold this amount as the product hit Checkers’ shelves on the 1st of May.
This comes as Checkers and PRIME have used an established marketing trick called price anchoring to convince people that buying the drink at R39.99 is good value for money.
The strategy involves prominently setting an initial product price to tell people what it is worth to capitalise on their inherent tendency to rely on an initial piece of information to guide their future decisions.
In PRIME’s case, numerous social media posts and news reports emerged in April that young people are paying R400 per bottle for the new sports drink.
According to Radio 702, ‘PRIME is a hellishly expensive sports drink which kids here and abroad are obsessing over’, pitching the price between R400 and R650 per bottle.
The drink has been promoted by YouTubers Logan Paul and KSI promote, starts at around R274 per bottle, increasing to over R1 000 per bottle, online.
Last week, Checkers announced that it had become the official South African retail partner of PRIME Hydration and would offer the drink at ‘supermarket prices’.
‘The worldwide hydration drink phenomenon, PRIME, will be widely available to local fans at the supermarket price of only R39.99,’ Checkers said.
PRIME will be sold at selected Checkers and Checkers Hyper stores and on Sixty60 in the Western Cape, Gauteng and KwaZulu-Natal. It will roll out to the rest of South Africa from today and throughout the month.
In an attempt to add to the hype, Checkers is also inviting customers to join them and TikTok South Africa to celebrate the launch of PRIME at prominent stores.
However, apart from artificial hype, there is nothing particularly special about the product.
It is similar to most other sports drinks, is not really exclusive, and is not particularly expensive in markets like the United States.
The product sells for just under $30 for 12 500ml bottles in the United States, which equates to R45.75 per bottle, in line with Checkers’ retail price.
However, when it comes to premium brands and hype products, marketing rather than value-for-money, dictates sales.
In the case of PRIME in South Africa, Checkers and PRIME Hydration did an exceptional job of lifting the new energy drink’s profile, which will drive sales.
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Written by Murray Swart for Cape {town} Etc.
Feature image: @CheckersSA / Twitter
