Product Announcement - Free Price Ranges & Tripling Our Wine Range!

Long story short

We're tripling our wine range and stocking even more amazing bottles, by switching from three fixed bottle prices to flexible price ranges!

Depending on what price points you normally get you will be switched into corresponding price ranges, while still getting certainty of the maximum you will pay per bottle, so there's no surprises on you bank balance.

We're also investing in keeping a higher number of bottles in stock of each wine on to make reordering and top-up orders of your favourite bottles easier.

Nothing for you to do right away. We'll be going live with the changes on the 29th of April and then you'll be able to dive in and make any changes if you like. But we'll keep you posted!

Please read below for lots more detail and motivation behind the switch!

The long story

Our #1 goal is and has always been to create the best wine retail experience possible by mixing our expert wine discovery and curation, with our best in class personalisation technology, to bring you amazing wines from around Australia and the globe that suit your personal tastes.

But lately, as we've grown and welcomed even more wine loving members to Good Pair Days, we've started to face a roadblock that we realised was holding us back. To put it simply, we weren't able to stock all the amazing bottles our wine team was discovering simply because of the nature of our fixed pricing system. More detail below.

So with much deliberation, as well as a lot of feedback and consultation from our lovely members, we've decided to switch from fixed bottle pricing to flexible price ranges! This is going to let us access, and therefore offer, a much more diverse range of wines, across a wider spectrum of delicious bottles that we couldn't otherwise fit into our three fixed price system.

Why the change and why was there fixed prices to begin with?

Our intention has always been to take as much confusion out of the wine buying process as possible by simplifying the price to value the question all wine lovers face.

Price versus value has always been a key problem face when buying wine. Is a bottle good because it is expensive? Does price mean quality? How can you determine value? Will I like this bottle more just because it is expensive? Am I getting ripped off?

Trying to solve these questions was one of our key early focusses. Which is why until now we have only offered three fixed price points ($15, $23, $38). The intention was to prove to our members that good bottles of wine can come at any price point and let's first choose a price point you are comfortable spending at, and then we can find the perfect bottle for you! Not the other way around.

But as we've grown we've started to hit a wall in terms of how many bottles we are able to select that fit into these very specific price points. Which means we can't always offer the amazing bottles we find if they are available for even a few dollars more or less than then our three price points. So we had to make a decision, keep a narrow range of bottles in three fixed prices, or switch to price ranges and do our best to take the confusion out of wine pricing in other ways.

So where did we land?

When we reflected on our company value of inclusiveness, being adventurous and finding remarkable wines the decision started to become clear.

• Inclusive: It’s always been our mission to open up the world of wine to everyone, free pricing ranges allow us to stock wines in more price points which means we can cater to even more people with diverse tastes and/or price preferences above or below what we have stocked previously.
• Adventurous: An increased range will also mean that we can show you even more unique and diverse wines, suited to you personal tastes of course.
• Remarkable: Finally an increased range will allow us to continue to find bottles that really blow your socks off!

So then finally the last step was  talking with a lot of our members (whose opinion counts the most of course) as well as doing lots of customer feedback sessions. And you told us very obviously that the benefits of the swap outweighed any downsides!

So we made the decision to switch to ranges instead of fixed bottle prices.

We hope that's good news for most members, but for those who loved the fixed pricing please rest assured, we going to do everything we can through design, personalisation and education to continue to remove the confusion in wine pricing and give you certainty on what you will be spending.

Wait, but what does this mean?

Instead of three set price points ($15, $23, and $38), you will now be able to set a price range for your monthly wine boxes for the following amounts:

• Up to $15
• $16-$25
• $26-$35
• $36-$50
• $51+.

What's the same is that the ranges will still give you absolute certainty over the maximum you will spend per month, so there won't be any surprises on your credit card!

But what does this mean for you specifically?

You’ll get more chances to try wines we couldn't have offered otherwise! Not only that, but expanded price options will make your wine journey even more customisable to fit your perfect monthly budget!

Every pricing tier will automatically roll over into the following price categories:

• Everyone on $15 wines will automatically go into the "Up to $15" price category.
• Everyone receiving $23 recommendations will go in the $16-25 category.
• Everyone receiving $38 bottles can choose to go in either the $26-35 category or the $36-$50.

You will be able to make these changes at a wine colour level. e.g. your box could look like:

1. 1 x red up to $15
2. 1 x white $16-25
3. 1 x sparkling $35-50

Or any combination you like really. You'll always be able to log into your settings any time to switch it up and choose how many bottles you'd like in each price and for each colour. You'll also have price certainty that we will never recommend a wine over your selected price point. So you know exactly what you will be spending at the max, but likely it will come in under this most of the time!

Or ...and this is cool!

We have built the option to just have a maximum total for the monthly box! For example, instead of selecting 4 bottles in the $16-25 price range, you will be able to set your maximum per month to whatever you like. Say $100. Then you can have more options across our whole range of prices, because one bottle could be over $35 and another could be under $15 and another two around $25. So if you don’t mind how much you're paying for each individual bottle as long as you don’t go over your total for the month, this would be the option for you to get access to an even greater range! You'll just have to select broad in you box and spend settings and go from there:

You'll still be able to make one-off orders or add bottles to your monthly box from any price point.

How are you able to stock so many more wines?

Good question. The expanded price ranges will allow Banjo and his team of wine explorers to purchase new and exciting bottles of wine at any price now and offer it to you for a great retail price.

e.g. If Banjo loved a bottle that was available for $19 previously retail price we couldn't stock it. Even if he loved it the most out of any bottle he tried that month. Because if we sold it at $15 the winemaker would get upset, and we wouldn't make a retail margin at all. And if we sold it at $23, that would be charging you $4 too much! Now Banjo can pick all the bottles he likes that are in similar situations.

This means we can take you further on your wine adventure than you we even imagined with some of the best wines around Australia and the globe.

Last but not least!

We heard the feedback loud and clear as it became our biggest piece of constructive feedback this year. You wanted to have more certainty in being able to reorder your favourite bottles and making top-up orders. To make this change we  raised some additional funds to be able to invest in our working capital to make sure we hold a larger number of bottles of each wine in stock on a continual basis to make this a reality. So from now on you should get a much bigger chunk of time to try a bottle and reorder more of it at a discount top-up price before it's all gone!

So when will this all happen?

Good questions! The new price categories will be live on our website on  the 29th of April. Our app updates will follow pending approval from Apple on our iOS update! So may take a little more time! We'll announce it in an email and let you know when you can dive in and play around!

Also we've already double our range in anticipation and will be making a whole heap of new wines available on the 29th of April. But then over the come months we will keep adding more and more bottles until our new warehouse is full!