IMO. Maybe some on the edge of their monthly budget moved down, sure. But minimal.
I think whats more likely is that Gold at a lower price point has opened up a market to us which Platinum wasn't available to, for one reason or another.
Those that were buying Platinum are likely still buying.
We are just selling more formula to more famies.
Early comments on Chinese socials for Gold initially said Platinum and Gold were priced similarly, so close that it wasn't worth stepping down to Gold. But it seems to have taken off now, no concerns for Gold based on social media I shared a day or 2 ago.
If you're buying 8+ cans every 6 weeks weeks, $8 discount per tin makes a difference. Maybe more economical to re-engage Daigou and source Gold here and have them send it over.
Going to be interesting to see how Ultra is differentiated, what it costs and where they roll the ultra-premium product out next. I'm anticipating something up right up there. Whats that going to do to our bottom line? Looking good.
(20min delay)