“The Chinese use two brush strokes to write the word ‘crisis.’ One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger – but recognise the opportunity.” – John F. Kennedy.
To say that it has been a deeply unsettling few weeks and months would be an understatement, but Liv-ex members have told us that they want – and need – to continue as normally as possible.
There are various ways that you can keep going, and even growing, during these difficult times. Here are some ways that your Liv-ex membership can help.
Tip 1: List more stock
When stock is listed on Liv-ex, it becomes visible to wine merchants and their customers around the world. This offers you a huge advantage in the current climate for two reasons.
First, the epicentre of the crisis has been moving. Listing allows you to reach as many parts of the globe as possible at the same time, including areas that might be more active than your own. Last month, Asia was worst hit. Today, we’re seeing that the market in Asia is becoming more active while Europe and the USA slow down.
Second, shoppers are moving online even more than ever. Because of automation, your Liv-ex listings will appear on merchant websites worldwide, maximising your potential to sell efficiently.
Tip 2: Store at the Liv-ex warehouse, trade digitally
Any wine that is stored in the Liv-ex warehouse can be traded digitally, without being physically moved. We simply transfer ownership online.
If you buy wine on Liv-ex, it can stay in the warehouse. This makes it easy for you to resell if needed. If you’d like to send wine to us in advance of selling, we can hold it for you, too.
Tip 3: Consolidate orders
If you’re working on reduced capacity, it may be easier to ask your business customers or suppliers to arrange deals through Liv-ex. We can consolidate your stock and arrange a single shipment or delivery, greatly reducing your admin burden.
Tip 4: Stay informed
There have been no interruptions to our blog insights, market updates, or the price information in our database. We intend to keep you updated on the latest developments in the market. If there are topics that you’d like us to cover, please let us know.
If you need to value a cellar or a list quickly, Wine Matcher remains available for you to use, as do our Price APIs.
Tip 5: Look for tech solutions
Now is a good time to explore the opportunities offered by automation. To name a few: a broader and deeper offering; more customers; less stock risk; better cash-flow; reduced admin.
We’ve posted about this several times recent weeks. Take a look at our case studies, and download our free guide, How to automate and accelerate your wine business. A call with our automation consultant is completely free of charge or commitment. He can’t offer biscuits or lunch over Skype but promises to be helpful. Request a call here.
We’re here to help
If you’re a Liv-ex member, please get in touch with your Account Manager to talk any of this through, or just to check in and say hello. Our Account Management team is now fully operational from home.
If you’re not yet a member and are interested in joining, let us know using this form and someone will be in touch to set up a call.
Stay safe and keep going. The world needs wine!