We just reduced the price of the Pakt One by 15%, from $325 to $275.
That’s a small announcement with a lot of background info and team discussions that lead to it. I wanted to explain the reasoning, timing, and all that goes into making a decision like this.
Pakt has grown up a lot since the day back in mid 2017 when we had to settle on a retail price for the Pakt One ahead of the launch of our crowdfunding campaign. Back then, Pakt was just a project and not yet a brand so we had to make some guesses and assumptions about how we’d grow.
I knew I wanted to build a company that raised the bar around product design and business practices by focusing exclusively on quality products, all made from high-end materials that are made to last. In short, I didn’t want to create cheap products that would end up in landfills anytime soon. At the time, we knew bringing a refined, high-quality product to market was expensive but we also had no idea how successful our campaign would be to recoup those costs. Now that the development costs are behind us and we have placed multiple production orders with the factory, we saw an opportunity to optimize our pricing model and we jumped on it.
One thing that has become totally clear in our short history is that our awesome community is a huge part of who we are and why we exist. We have great lines of communication and discussions with all of you. Sometimes we are lucky enough to connect with some of you in person, or even work with you! With that focus on community, transparency is a given, as is a desire to be an approachable brand with attainable products.
There’s a lot more that goes into pricing than the actual product cost, a whole lot more! Especially if you want to be a ‘responsible’ company. We knew that we wanted to back up our products with top notch customer service, a satisfaction guarantee and a lifetime warranty – all those things cost. We will never budge on our commitment to create products that we can stand behind, and also treat the environment and all labor involved better than the status quo.
Last is our business model. We originally thought wholesale sales would play a bigger part in our model so we priced our products with enough margins to account for the inevitable middlemen that are involvement in that type of distribution chain. Back to the community aspect mentioned before – we now know we much prefer working directly with our awesome customers and community. So, we’re focused on direct-to-consumer sales without middle men which allows us to pass that savings on to you.
Nothing good comes easily or cheaply, and as I’ve said before, cheap products cost someone. We will never strive for cheap, but when you factor everything in, we hope our new pricing makes our products one of the best overall values out there.
Thanks for reading and joining this adventure!