Online Wine Sales are the Key to Your Future
Posted on Mon 26th Oct 2015 at 12:30
That’s according to Rabobank’s latest Wine Quarterly report, which has highlighted the vital importance of online platforms for wine sales. In fact, online wine sales are expected to grow by around 12% every year, which is a truly astonishing figure.
The report states that “Growth rates of online wine sales vary across markets. but fairly consistently far outpace growth in traditional retail. In the UK online wine sales revenue of independent e-retailers grew 11% in the first quarter of 2015, while total wine sales value only increased 3.5% during that same period.” One of the key reasons for this trend is the millennial generation’s heavy use of the internet for shopping, and their preference for quick and easy online shopping rather than extended browsing in stores. What the report also highlights, however, is that retailers have their work cut out for them if they want to create a successful e-commerce solution for wine. “Simply having a presence online is not enough. Brand owners must invest time and marketing resources to achieve meaningful success in this channel” commented the report analysts. Investing time in your e-commerce platform is particularly important because there is an ever-increasing number of competitor websites. Not only do you need to have a workable platform, but you’re also going to need to innovate in order to get noticed. The report suggests several ways to do this, including introducing interactive online tools that assist customers with their purchases. Wine.com, for example, has introduced online sommeliers, to whom customers can chat through an online messaging function. Social media is also a powerful tool through which you can actively communicate with customers and potential customers alike. Although the growth of online wine sales is impressive, the report concludes by observing how far many wineries and retailers have to go before they can successfully harness this potential: “The complexity of effectively growing online sales while minimising conflict with traditional channels can be daunting…Developing e-commerce “know-how” can be a struggle for wineries, but those that invest early in building these skills will be better positioned for long-term growth.”