Automated buying and selling accounted for over 28% of trade in March, a record high. It comes after a dip earlier in the year caused by uncertainty around tariffs in the US.
This recent jump is partly due to the increasing number of merchants who are automating, but it can mostly be explained by a rise in client-driven online buying in recent weeks.
Merchants who use trading automation can offer stock from Liv-ex on their websites, which their own customers can purchase instantly.
As one automation user told us recently, “We’re connected to Liv-ex 24/7. We wake up in the morning, pour some coffee, check our sales and find that someone from the other side of the country has purchased thousands of dollars of wine while we were sleeping.”
In the current climate, news outlets are reporting that online wine sales have increased rapidly. They are “soaring”, according to Forbes, with some merchants reporting bigger months than Christmas.
Merchants who use automation are particularly well positioned to benefit from this trend. They are able to offer more wine – a longer and more comprehensive list – without tying up additional capital in stock. The merchant in our previous example increased his list from 1,000 to 10,000 items while reducing his inventory by 80%.
This makes their online store more visible on search engines, as well as increasing the likelihood of satisfying customer needs.
Learn more about automation
Automation can be brought in a number of ways, at various levels of complexity depending on your business needs. Our experienced consultants are available to help you find the best solution for you. To request a free call, visit this page.
You can also download our short guide to automation, which outlines the various ways that wine merchants are automating. Complete this short form to receive your copy.