We expect to announce a price increase by the end of November. We forecast the pricing increase to be between 10-20%, with the final price determined by evaluating our costs incurred year to date and an assessment of the number of Vestaboard displays we plan to produce in 2023. More context follows.
With over 6,000 Vestaboard displays delivered worldwide, the Vestaboard White Limited Edition quickly selling out, more than 225 channels in our optional software offering Vestaboard+, and customers awarding us a best-in-class NPS score, this year has been the most exciting yet for the company.
Thank you to our customers, investors, and followers for your support and interest.
Since 2020, the world has presented many challenges in the form of international unrest related to the pandemic, supply chain shortages and now inflation.
We have not been immune to pricing and cost pressures and as a result we are conducting a pricing review. We expect to announce a price increase by the end of November. We forecast the pricing increase to be between 10-20%, with the final price determined by evaluating our costs incurred year to date and an assessment of the number of Vestaboard displays we plan to produce in 2023.
We are aware that we are offering a product that is not affordable to everyone, and it is our goal to produce more affordable, equally appealing products in the future. Vestaboard as designed is made up of over 14,000 parts, with 8,448 magically spinning flaps across 132 character modules we call Bits, and each of those parts is considered instrumental to Vestaboard’s form and function.
The Vestaboard team remains dedicated to delivering the most beautiful, highest quality messaging displays to create special moments of inspiration for our customers. As we look to the future, we plan to continue to provide outstanding customer support, great software and exceptional products.
We wish you and your loved ones a beautiful upcoming holiday season. Please reach out to us at any time with questions, and feel free to connect with me on LinkedIn or Twitter.
