Five member success stories to take into the year ahead

By December 21, 2020Fine Wine Market

We recap five stories of success from our members around the world in 2020. 

1. 20% compound sales growth over two years in the US 

One US-based merchant told us that he grew sales by 17% in 2018, and 25% in 2019 while cutting inventory by 80% and improving cash flow. 

This might sound too good to be true, but it’s not – and all came from some simple development with WooCommerce to incorporate trading automationHe is now able to offer competitively priced stock from Liv-ex directly to a US audience while taking commission.  

“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”, the company’s founder told us.  

2. Up-to-date valuations – happy customers

Somm'It software

Somm’It, a Bordeaux-based cellar management tool for restaurant, hotel, and bar owners, is now able to show accurate and up-to-date valuation information to its clients.  

It uses Liv-ex pricing Automation to bring thousands of Market Prices into its own system. These prices are then shown on each user’s individual portfolio.  

Its team reports happy customers: “They are very happy – and surprised! – to find an up-to-date price in our tool”, said Head of Data, David Fourquet. 

Before we introduced it, they couldn’t imagine that they could access this valuation information so easily. It’s a real improvement to the value of the tool.” 

3. For a small UK merchant, automation is “like having an extra salesperson”

One small merchant in the UK wanted to find a quick way to list stock on Liv-ex, so it began to use trading automation with the help of an independent developer.   

It can now offer stock for sale on Liv-ex at the click of a button, enabling it to list much more wine for sale. Its sales have risen exponentially as a result. 

One member of the team told us that he enjoys waking up in the morning to find that multiple cases have traded overnight, probably to markets he isn’t otherwise targeting.   

“It’s like having an extra salesperson”, he told us. 

4. Creating cellar valuations in a fraction of the time 

Farthinghoe Fine Wine is a family-run wine business in the UK. Accurately pricing cellars for its clients was taking up a lot of time. 

“Life was so painful before Wine Matcher because I would have to research each line individually vintage by vintage, wine by wineand it can take hours – especially if there’s over one hundred cases of stock needing to be priced up”, said Farthinghoe’s Rebecca Adams. 

Rebecca can now value four client cellars in the time it used to take her to do one, meaning she spends more time on other revenue-generating activities. 

5. Exponential sales growth 

Trading automation was an overnight success for this UK merchant, who now offers thousands of different wines from Liv-ex on its website.  

This merchant was initially hesitant – lacking confidence that the type of stock from Liv-ex would appeal to its customers. But it already had a modern stock system in place, which made automation relatively straightforward. It decided to take the plunge, and the results, which you can see in the chart above, have been impressive. 

Want to learn more? 

  • Our guide to automation is free to download and explains how automation can help your business, from pricing, through trading, to payments. 
  • You can watch the replay of our recent webinar on Wine Matcher, where we show you how to use it to spot trading opportunities faster. 
  • All of these stories are available in full on our customer success page