Banksy image 180x180 - Adaptation, adjustment and agility: How wine businesses are shifting to new business strategies

Findings ways to secure business when we are trying to work out what the future looks like feels near impossible. In our ‘new normal’, both consumers and businesses are adapting and adjusting, and doing so at a pace that just a few weeks ago, we would have thought impossible.

Diageo and Bacardi, in common with many drinks producers globally, have announced they are switching production in their distilleries and are set to produce 8 million units of hand sanitiser for healthcare workers worldwide.

Courtesy of our global team at Wine Intelligence, here is a round-up of some approaches wine related businesses are taking in terms of their adaptation, adjustment and agility.

Virtual socialising

#SparkleAtHome The Consorzio di Tutela del Conegliano Valdobbiadene Prosecco D.O.C.G. launched a national campaign encouraging Italians to enjoy their apperetivo ‘virtually’ together. Extended to the US, American consumers are encouraged to adopt the Italian Aperitivo tradition at 6pm PST, whilst also supporting local restaurants by enjoying the occasions with a local restaurant take-out or delivery

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Read more here.

Product mix switch

The Ground Coffee Society in London have turned themselves quickly from a cafe to a grocery shop, whilst continuing to provide a take-out coffee service and a ‘build your own fruit, veg and cupboard essentials’ for delivery. They are driving footfall through the increased demand for grocery, whilst generating demand for higher margin take-out coffee

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On-premise crowdfunding

Sager and Wilde which has two restaurant bars in London and Terroir wine bar in New York are amongst many on-premise businesses who are crowdfunding, raising funds to pay staff wages in exchange for credits and vouchers redeemable against future purchases when they re-open. This strategy enables them to support their team, build connection with their local communities and drive footfall in the future

Increased reassurance

In China, responding to the increased demand for online food delivery orders whilst adhering to strict contamination guidelines, many restaurants are including a ‘reassurance guarantee’ slip which shows the temperatures of those who have come in to contact with the food – the cooks, food packagers and couriers.

In the UK, The Wine Society, a major direct to home wine club owned by its members, is suspending all orders and deliveries to protect customers and also the Society’s delivery drivers. CEO Steve Finlan said: ““We pride ourselves at The Wine Society in always doing the right thing. I believe strongly that we are doing the right thing in this instance.”

Restaurants taking temps China - Adaptation, adjustment and agility: How wine businesses are shifting to new business strategies

Read more here.

Virtual events  

Portugal Wine Week was held during the time ProWein was meant to take place. ‘Organised by online wine retailer Adegga, the event consisted of a series of interviews with wine producers, hosted by Portuguese wine specialist Andre Ribeirinho.’ Read more here.

Changed regulatory environments

In the UK and Australia competition laws have been relaxed to permit major supermarkets to share operational data with their close competitors, and even share supply chain resources such as delivery vans and warehouses. At the same time, Tesco has said it will pay suppliers that normally get payments within 14 days a lot earlier – within 5 days.

In New York, restaurants that are permitted to sell takeout food can now sell wine to go as well, in a temporary move by the New York State Liquor Authority designed to alleviate some of the financial pain suffered recently by restaurants

Read more here.

 

If you would like to share any examples of what you’ve seen in your area, please email them to Courtney at Courtney@wineinitelligence.com

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