Whether you’re looking to expand your knowledge of wine, find out where wine fits in your life, or figure out the keys to wine success, we’ve got it all right here. TED talk presenters like Gary Vaynerchuk, Wojtek Bonkowski, Ben Wallace, Jeannie Cho Lee and Sarah Wolcott enlighten you with their insight to the wine industry. These TED talks will empower and inspire you to sell wine to any consumer, anytime.
Take a moment to think about the ballpark prices of alcohol. Do you know how much a bottle of Meiomi Pinot Noir should cost? A handle of Ketel One Vodka? A 12 pack of Coors Light? Were your answers around $20, $40, and $10?
Now, how much should a bottle of Ideology Chardonnay cost? You probably have no idea. You've probably never heard of it. Or better yet, your customers have never heard of it. This 2014 Chardonnay from Napa Valley, with beautiful packaging, is available in your store only. Your customers can't go compare the price of this wine at Costco, or Target, or Walmart. So you add a 50% margin, retail it for $20 a bottle, and sell out in two weeks.
Ladies and gentlemen, welcome to blind price wines.
Here's a mind-blowing statistic: the average supermarket carries 5 products per category, except in the wine category, where supermarkets carry roughly 900 different products. Let that sink in for a moment; a consumer who wants to purchase eggs has five options, but a consumer wanting to purchase wine must choose from nearly one thousand different options.
"...Research now shows that there can be too much choice; when there is, consumers are less likely to buy anything at all, and if they do buy, they are less satisfied with their selection."
- Barry Schwartz, Harvard Business Review
Since delighting customers should be the number one goal of every retailer, it may be time to re-evaluate your wine section. Here are the 10 things retailers should keep in mind when buying wholesale wine.
SILICON VALLEY - The 16th annual Silicon Valley Bank State of the Wine Industry Report, produced by founder of the Bank’s Wine Division Rob McMillan, predicts a strong wine market for 2019. Over the next series of posts, we want to highlight the most important parts of the report for you. We will also show you why Merchant23 not only agrees with Rob on the future of the wine industry, but how in many ways we are already one step ahead of him!
(Left to Right) Robert and David Trone - Owners of Total Wine and More
Have you ever wondered how some companies grow sales year after year while your company's revenue remains stagnant? Everyone always wonders how Google, Amazon, and Facebook grow their users base year after year. It's not luck. They are using data driven strategies that have the best results to achieve their goals.
2017 was all about Direct-to-Consumer sales, but 2018 is about Direct-to-Trade (DTT). Unlike DTC, Direct-to-Trade sales still operate within the highly regulated Three-tier System. But DTT isn't your everyday approach to wholesale; it gives Buyers and Sellers much more freedom. So, what exactly is 'Direct-to-Trade'?
This week I flew to New York for Vinexpo 2018 to speak on the panel: Millennials' Purchasing Power and The Rise of E-commerce alongside the brilliant leaders of Vivino, Minibar Delivery, Enolytics, Sodexpa, and Racine's NY.
We've all been there. 'One drink' turned in to 'one too many' drinks, and now your pounding headache is a constant reminder of why you tried to limit yourself in the first place. After taking Advil, chugging Pedialyte, and eating the greasiest food possible, your hangover is still raging on. Thankfully, we've found 5 lesser known, science-backed hangover cures to help you get back on your feet! We can all drink to that.
In the age of supermarket price wars, retailers are searching for new ways to gain competitive advantage and earn higher margins. In the wine category, this often translates to private labels and brand exclusives.
Topics: WineContinue Reading