Guest, John Ricci, founder/CEO of Danavation Technologies Corp
Intro: Have you ever noticed how the government statistics for inflation are dramatically lower than the price hikes we deal with every day? You, know, things like gas and groceries, and housing. But what you might not know is that these categories are all exempted from the official government inflation numbers. So, your Medicare benefits might rise 2%, but your food and gas might increase by 20%. John Ricci, founder and CEO of Danavation joins us to explain what’s going on and one thing businesses can do to keep up with inflation. Welcome, John.
Talking Points:
1. Inflation is a vicious cycle. It’s kind of like paying the carnival game, Whack-a-Mole. When costs rise for a manufacturer, they bop it on the head and pass it on to a retailer who bops it on the head by raising prices. Then the consumer bops that hike on the head by telling their employer they need a raise or quit. So is there any winning here?
Answer: In the game of whack-a-mole, you can never whack all the moles. There are always more popping up. However, businesses can mitigate the moles during an inflation cycle by being as efficient as possible to remain competitive and minimize price increases.
2. The world is witnessing shortages on almost everything, ranging from om household goods to building materials frequently due to container shipment delays. In your opinion, are we going to see that shift back to normal anytime soon?
Answer: Unfortunately,this is likely to be the new normal. Don’t expect it to go back to business as usual for a long time.
3. John, when we go to the store and look at prices, sometimes we see a double label on retail products. Typically, which price tag is higher, the one on the bottom or the one on the top?
Answer: (slight chuckle) 99% of the time, the price tag on top is the higher price, because of inflation. The United States has become an inflation nation, and it is doubtful that it will slow down anytime soon.
4. How can businesses maintain efficiency during this ‘new normal’ of escalating inflation?
Answer: One way our company, Danavation, is offering to companies is to convert the old paper price tags into Danavation Digital Smart Labels. They allow a retailer to change the price of any product at any time with just a few keystrokes. This extra efficiency and labor savings could lead to a price hike of only a nickel instead of a dime. It all adds up. And Digital Smart Labels that can be monitored and changed in seconds and remotely.
5. Tell us more about Danavation digital smart labels and Danavation.
6. Thank you, John Ricci, for your time and insight. Where may we get more information on this subject and your company, Danavation, including investment opportunities now that your company has gone public?
Answer: www.Danavation.com
ABOUT YOUR GUEST, JOHN RICCI…
John is the founder of Danavation Technologies. Through his leadership and over 25 years of experience in retail marketing, Danavation has grown to become an industry-leading organization. He oversees and manages the company’s operations, inspiring action and forward-thinking while maintaining a stable financial base that levers the business.
CONTACT: To schedule a radio or television interview with John Ricci, you may contact Jerry McGlothlin at 919-437-0001 jerry@specialguests.com
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