Battling Inflation and Delivering Customer Savings

by Michael Carson June 16, 2022

The effects of inflation reach every aspect of daily life, but through quality construction and creative planning, SOM Footwear battles the rising costs and supply chain shortages to afford customers peace of mind and deeper savings. To understand how we weaken inflation’s grip, we must start with why these record highs are greater than anything we’ve seen in the last forty years.

Inflation rates cause us to choose more carefully where we spend our money

Demand without Supply

From the New York Times, this June, “the government reported that consumer prices climbed 8.6 percent over the year through May, the fastest rate of increase in four decades” (Jeanna Smialek). From the grocery store to the gas pump to even online retailers, goods and services are getting more expensive because there isn’t enough supply to keep up with the surge in demand.

In 2020, the COVID Pandemic brought consumers indoors, resulting in fewer places to go and more opportunities to save. This coupled with stimulus checks and government assistance over the last two years, and the personal savings rate—which reflects the ratio of total personal saving minus disposable income—jumped to 26.6% in March 2021 (Catherine Tymkiw).

People were ready to spend again, and as the world began to reopen, production struggled to catch up for a multitude of reasons. “Factory shutdowns tied to the pandemic, global shipping backlogs and reduced production have snowballed into a parts-and-products shortage” (Jeanna Smialek). Because demand is so high, consumers are willing to pay more, and companies are able to charge more, resulting in added pressure when planning household budgets.

When gas prices are high, SOM shoes give you another way to travel.

With groceries increasing, and gas prices becoming a greater issue–reaching over $7 in California and over $5 dollars in ten states (Bill Chappell)--daily costs are forcing consumers to be more selective with their spending habits. Businesses must reflect these growing spending concerns by providing options and products that value their customers’ budgets.

SOM Footwear has grown since 2014 by putting quality over pricing and longevity over quantity because what good is a cheap shoe if it only lasts a couple of weeks?

The Power of Resoling

Shoes are an investment, now more than ever, and we want yours to last for as long as possible. We design our footwear to be resoleable, which means every SOM shoe is TWO SHOES IN ONE. Unlike other barefoot brands that need to be replaced when they reach their limit, SOMs deliver a second life for your favorite pair with brand new soles.

Resoleable shoes from SOM outlast the competition by offering two shoes in one.

We work with you through emails and photos to ensure your shoes are ready to be resoled and how to send them to us. Once we receive them, our shoemakers remove the old soles to be recycled, new ones are applied, and we ship your pair back for miles and miles of new adventures.

By providing a unique product that outlasts its competitors, we save you time and money from having to go back to the shoe store again and again.

Under One Roof

Because SOM Footwear does everything under one roof in Montrose, Colorado–from designing to manufacturing to shipping to resoling–we are in control of the complete process and not dependent on overseas delays that have contributed to the rise in inflation.

Shipping costs are rising along with the materials being shipped, but the closer we are to our products, and the more American-made materials we use in them, the fewer chances there are for long delays in production, which lessens the need to raise prices.

Options to Save

By offering multiple ways to order your SOMs, customers can choose the shipping and services that best suit their needs. Five dollar, flat rate, ground shipping for the lower 48 states means you’re going to pay the same amount whether you live on the west coast, east coast, or somewhere in between. There are faster shipping methods available at a higher cost, and our SOM VIP program is an option at the end of checkout that provides savings no other shoe company can meet.

SOM VIP is our year-long membership service that not only provides FREE SHIPPING on shoes for that year, but also includes one FREE exchange for a resizing, $5 off every next pair of full-priced SOMs purchased within that year, and one FREE resoling after your second full-priced shoe purchase (a $35 value). You’ll even receive VIP newsletters featuring pre-release shoes, allowing for front-of-the-line access to get them before anyone else.

The more a business can expand choice, the more control customers have over their purchase.

A Stronger Investment

By delivering a longer-lasting product, locally made, with options for membership savings, SOM Footwear puts customers first by respecting their trust in us. Shoes are an investment that follow us wherever we travel. We at SOM Footwear value the chance to take part in your adventures. No matter where you go, SOM will be there to serve and strengthen your steps.

Sources:

Jeanna Smialek, “Here’s What You Need to Know About America’s Super-Hot Inflation,” New York Times Stuff Works, June 11th 2022, accessed June 14, 2022, https://www.nytimes.com/2022/06/11/business/economy/inflation-us-prices.html.
Catherine Tymkiw, “How COVID-19 Changed Our Saving and Spending Habits,” Investopedia, September 28th 2021, June 15, 2022, https://www.investopedia.com/how-covid-19-changed-our-saving-and-spending-habits-5184327.
Bill Chappell, “In 10 states, a gallon of gas now costs more than $5,” NPR, June 6th 2022, June 15, 2022, https://www.npr.org/2022/06/06/1103318977/states-highest-gas-prices.