The covid stimulus pellet cooker/smoker/grilling boom, is going to be followed by epic bust.
It already is a bust. COOK (Traeger) will not see follow on sales nor graduating sales. They’re done as a company and IMO won’t last. Of my friends that have Traegers, maybe they cook on them 3 times a month. They bought the trend/fad. They’re not outdoor cooker types of people.
You ever eat a burger off a Traeger? Would love to hear your opinion.
Weber is a massive and worldwide company. They are the backyard grilling giant.
Go look at used grill prices and Weber still commands a price compared to all other brands. All these off brand and chinecrap grills hold near zero value.
We’ve just gone through one of the most superheated economic inflation cycles in over 40 years. Many prices are still out of whack.
The coming correction is going to be wicked and painful.
Just yesterday I read that Intel, a large local employer in my town, might possibly RIF up to 20% of its sales and marketing people. With 7,000 local people at my local facility, that could mean a 5-7% corporate headcount reduction. That’s 350-500 local job cuts.
The news comes amid a steep erosion of demand for processors for PCs and an industry-wide sell-off following a spate of new US export curbs.
www.businessinsider.com
So many prices went out of whack over the past 18-24 months. That doesn’t mean Weber alone has high prices. All grills are overpriced.
I’d still buy a WSM over a Betty Crocker easy bake pellet pooper. WSM delivers a better product and requires no plugs or electricity. That Traeger owner is long gone from the market now. Their jobs are in jeopardy in this downturn. A $419 WSM looks cheap when someone won’t spend $1,000 on a basic Traeger, when they want to smoke some meat.