I’m looking for advice about pricing wines for a Coravan program. I’m looking at doing 6oz pours only. Should I price them the way I would any other btg.
I'm not familiar well enough with the US market but how I see corvin program its the option to offer something more unique, wines that a little wine enthusiast can't afford to buy a bottle or the costumer is not in the mood for a bottle. I see coravin programm like a kid in a candy shop and therefore you want it to be attractive so in my opinion the pricing should be a little lower, in addition you should ask your supplier to give you a discount because the bottles are BTG. I would consider also to do 3oz pours, there is almost no deprecation and no loss because the wines should be ok for at least 3 months
for example if a bottle is 100$ and a glass is around 27$ (dividing by 4 and add a little on the loss, etc) I would do coravin 23 or 22
We price ours at our normal Bottle markup and add $1 per pour for the cost of the gas. Typically these are higher end wines so we want to move them (i.e. a $50 cost bottle would be $50 a glass, $200 a bottle with normal glass markup, we would price ours at $35 (plus $1) and $144 a bottle for coravin. Coravin, at least for us, is a driving of revenue, not lower COGS. Can't put percentages in the bank--at least that's what I'm told.
I manage at a private club so our mark up is a little different than some places. I price it just like anything else and divide the price of the bottle by 4. For example I charge $99 for Cakebread cab so $25 for a 7oz pour.
7 oz pour! Pouring buckets, I like it.
I do the same as Brandon, works well for us. $$ in the bank are preferred lol
We price most of our Coravin wines with normal wbg markups, looking at 4oz pours instead of our usual 5. That's just to ensure that overpours do not lower the COGS.
Interestingly, we feature some hidden gems (wines that average consumers can hardly identify with) at more attractive prices - lower than bottle price.. as a form of introduction to the product and to enhance the wine experience of our guests. This is really awesome for wine drinkers looking to discover something new and also to get the inventory moving.
*increase the COGS