High Inflation in the United States
High inflation remains a massive problem for many in the country. Even though inflation dropped from 9.1% — its peak from June 2022 — its still at 3.4%. This is above the Fed’s desired goal of 2%.
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Inflation has caused the price of many goods and items to skyrocket around the United States. As a result, consumers have become more wary and selective about what they’re deciding to spend their money on.
Consumers Are Changing Their Buying Habits
Because prices of food and items has become so high for so many, consumers have begun to change their buying habits across the board.
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This has led many companies to try to offer new deals to bring these customers back in to their stores or restaurants. From McDonald’s to Target, various companies are changing their own habits thanks to high inflation and consumer behavior.
Bass Pro Shops Is Dealing With Inflation, Too
Johnny Morris, the CEO and founder of Bass Pro Shops, has recently come out to explain that his company is dealing with inflation, just as everyone else is.
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During an interview with FOX Business, Morris stated, “Inflation is here. It’s real.”
Keeping Customers Happy
Morris also explained that Bass Pro Shops is going to work to keep their customers happy by ensuring that items stay affordably priced.
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Many people around the country head to Bass Pro Shops to buy everything from hunting and fishing gear to outdoor sporting goods. It’s a mainstay for many. However, as customers change their buying habits, even Bass Pro has had to change its outlook.
Inflation Savings Programs
In late 2023, Bass Pro Shops officially ended an inflation buster savings program that they had in place.
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Now, Morris has claimed that the company and its stores will continue to offer affordable goods and items to its customers — even though inflation has made so many prices skyrocket elsewhere.
Staying Affordable For Customers
Morris also explained that Bass Pro Shops has always worked to be an affordable place for its customers, even from the get go.
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“We worked hard, and we still focus on affordability,” Morris stated.
Deals and Savings at Bass Pro
Bass Pro Shops has always touted that their stores are affordable for many Americans. While many may think that buying and owning a boat could be a costly endeavor, Bass Pro Shops has said that customers can become a part of a payment plan to make this cheaper for them.
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If they become a part of this plan, customers may only have to pay $5 or $10 a day to buy and own a boat.
Staying True to Customers
Morris also stated that his mission with Bass Pro Shops has always been the same. He wants to provide high-quality items and value to consumers — but all at an affordable rate.
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“My dad was big on delivering value to customers,” Morris said. “One of his sayings to me every day was, ‘Johnny, it’s not worth any more on your shelf than it is your competitors.’”
Creating Boats in America
Morris has also pushed to create many of its items, particularly its boats that it sells at its stores, in the United States. A Missouri native himself, Morris offers many boats that are built in the Ozarks.
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“We broke through by delivering remarkable value to fishermen and to anglers,” he stated. “That’s something that we’re focused on. We build boats right here in the Ozarks — most of them — sell them direct, and we have a few great select dealers.’”
Creating Value in Other Areas
While Morris is big on offering value to Bass Pro customers, he has also recently stepped into the concert venue industry through the completion of the Thunder Ridge Nature Arena located outside of Branson, Missouri.
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Morris explained, “”The economy is what it is, but I think people can expect good value here.”
Ongoing Business Issues
Morris is just the latest CEO to come out and talk about how things need to change in their business if they want to keep consumers — and sales — coming in.
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As inflation remains high, more businesses may struggle to keep consumers happy and spending their money. As a result, other companies may soon start offering lower prices and deals, similarly to corporations like Bass Pro Shops.