Grow your wine sales with lessons learned from these allies ...
A recent Nielsen study predicts a year-long recovery for the wine industry filled with not only challenges but opportunities for those who cash in on omnichannel buying. Since tasting room traffic is not likely to rebound until 2021, “off-premise” sales are king, with online alcohol sales up 477% over last year. Some of the differentiation strategies highlighted include:
- partnering with restaurants who are offering alcohol as part of their food delivery services, creating opportunities to craft locally focused wine lists;
- doubling down where sales opportunities are highest, including the consumer trend toward the purchase of larger pack sizes; and,
- identifying high-opportunity consumer targets (for instance, podcast listeners).
With a growing number of states ending their COVID-19 shutdowns this month, the eye is on safety and a gradual transition. Several states have begun rolling out a phased plan to protect public health, including a detailed set of requirements and guidelines to ensure winery staff and tasting room visitors have a safe experience. This article shares some of the lessons learned since March, when wineries were forced to quickly rethink their business models, tapping into strong online sales and some of the more creative, personalized approaches to wine club and curbside sales. Tap into tips from vintners whose sales have risen as much as 300% online.
One of the ways leaders in the wine industry are reaching out to help their peers is through webinars, connecting to share ideas and resources focused on the most pressing issues and pain points. Wine Business Monthly held one this week designed to inspire a little out-of-the-wine-box thinking around an often overlooked DtC sales channel: phone sales. It’s one of the most profitable channels, and an option wineries are cashing in on to make up for the revenue losses experienced when tasting rooms were closed. Tap into the 60-minute session replay on YouTube to discover why many wineries are saying that phone sales will remain an essential part of their DtC sales even after the COVID-19 restrictions subside.
Want another pour?
Here are a few resources we put together to help you find the right differentiation strategy to grow YOUR winery:
Whether you’re thinking about starting a wine club or have one you’re looking to grow, the potential ROI is hard to ignore. Direct-to-Consumer (DtC) sales account for a whopping 60 percent of winery revenue. Think you’re too small to cash in? For wineries making less than 2,500 cases per year, that number jumps to 74 percent.
Continuity sales are an opportunity to significantly grow your bottom line.
Wine clubs are one of the most lucrative sources of revenue for those who understand a handful of truths -- and tactics -- when it comes to engaging and keeping clients.
Can SMEs compete with large estates and virtual wineries? According to an in-depth look at the differentiation strategies and financial performance of small-to-medium sized wineries over a period of 5 years, the answer is “Yes!” Perhaps more importantly, the study answered the question: “How?”
- How does a winery stand out from the competition?
- How do the strategies they use to do this impact the bottom line?
Here's why your tasting room and technology will be your greatest assets ...