A recent article by The Drinks Business highlighted a record rise in online alcohol sales, which are “growing ahead of the market”. The publication reported that “there was a ‘definite’ appetite to buy alcohol online”. It further pointed out to an interesting correlation: regions with some of the most rigid Covid-19 lockdown measures are seeing the fastest e-commerce growth.
As Covid-19 restrictions are being put back in place in many parts of the world, online wine sales are surging. On Liv-ex’s global marketplace, trade volumes are up 14% YoY, while the number of trades is up 27%.
In the face of the pandemic, more and more wine businesses are stepping up their digitisation efforts. Many wine sellers who did not previously focus on selling online, or direct-to-consumer, have quickly set up a shop on the internet. This includes several on-trade suppliers and wineries, who have turned to supplying private clients where regulations allow. From merchants to consultants and private clubs, our industry is increasingly occupying the online space. How can wine businesses catch the wave?
Our guide to “Selling wine in a post-Covid-19 world” outlines some ideas on how to get started as a traditional wine business looking to adapt their online strategy.
These include finding the right e-commerce platform or using developer services to get started. Merchants can use LWIN to make sure the wines on their list are named consistently, and to add detailed product information such as region, sub-region and classification automatically. The free tool can also help with creating filters, wine search engines and tasks like sales reporting.
With prices moving frequently in the current climate, getting the price right is especially important. The guide contains several methods for professionals to carry out a valuation that differ in cost, time and efficiency.
And with the epicenter of the crisis moving, merchants who want to take the upper hand and find buyers should consider selling to markets that might be more active than their own. Technology now connects wine buyers in Texas with sellers in Switzerland at the press of a button. The guide looks at ways of expanding distribution globally, automating sales and turning stock faster.
To see other ways in which wine businesses can seize the opportunity of growing online sales, claim your complimentary copy of the guide using the form below.