#WBIS - Session 2 Presentation - Different Approaches to Online Wine Sales by Finkus Bripp

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During this presentation, Finkus Bripp communicated the business practices he uses in running the WINE ON THE ROCKS SHOP, gave a brief YEAR I overview and plans for YEAR II.

The #WBIS (WINE BUSINESS INNOVATION SUMMIT) aims to promote new and innovative approaches to growth and communication in the wine industry. The first edition of #WBIS was held on Saturday, January 19, 2013 in Brussels.

By creating a forum for wine professionals, bloggers, social media whizzes and business experts, #WBIS encourages innovation, disruptive thinking and the use of new technologies in the wine world.

Published in: Business

#WBIS - Session 2 Presentation - Different Approaches to Online Wine Sales by Finkus Bripp

  1. 1. ONLINE WINE SALES DIFFERENT APPROACHES PRESENTED BY
  2. 2. PRESENTATION OVERVIEW 1 2 3 4ABOUT YEAR 1 YEAR 2 KEYWOTR REVIEW PLAN PRACTICES THE  PRESENTATION  WILL  BE  COVERING  THE  ABOVE  TOPICS  
  3. 3. ONLINE WINE SALES 1 ABOUTWINE ON THE ROCKS PRESENTED BY FINKUS BRIPP
  4. 4. ONLINE WINE SALESWWW.WINEONTHEROCKS.COM
  5. 5. ONLINE WINE SALES WINE ON THE ROCKS ONLINE WINE SHOP - GERMANY   -­‐ Launched  in  December  2011   -­‐  ConcentraDng  on  B-­‐Side  wines  (imporDng   wines  not  available  in  German  market)   -­‐  Wine  selecDon  from  distributors  who   cater  to  restaurants   -­‐  No  price  dumping   -­‐  No  use  of  wine  criDc  points   -­‐  Urban  design   -­‐  External  logisDcs  partner   -­‐  Promo  methods:  NewsleRer  markeDng,   word  of  mouth  and  offline  events  
  6. 6. ONLINE WINE SALES 2Year one in review PRESENTED BY FINKUS BRIPP
  7. 7. ONLINE WINE SALESYEAR ONE IN REVIEW BREAK-EVEN PARTNER INTEREST FINKUS COLLECTION The  break-­‐even  point  was   Though  the  Wine  On  The  Rocks   The  first  Finkus  CollecDon  was   reached  within  the  first  year   Shop  is  a  small  online  wine   launched  in  June  2012  –  two   and  this  was  done  with  a  €  0   merchant,  interest  to  be  listed   red  Douro  blends  named  Lolita   adverDsing    budget.   by  producers  and  established   &  MILF  made  in  co-­‐op  with   importers  was  very  high.   Quinta  do  Popa  –  and  sold  out   in  less  than  three  months.  They   were  only  sold  in  the  WOTR   shop  and  in  the  Dudes  Factory   in  Berlin…  an  urban  art  gallery!  
  8. 8. ONLINE WINE SALES 3Year TWO PLAN PRESENTED BY FINKUS BRIPP
  9. 9. ONLINE WINE SALES YEAR TWO PLAN OFFLINE TASTING ROOM PARTNERING FINKUS COLLECTION EXPANSIONIn  order  to  make  the  WOTR   Due  to  the  posiDve  feedback   The  Finkus  CollecDon  Douro  brand  more  “tangible”,  the   and  interest  on  the  part  of   wines  are  being  distributed  WOTR  TasDng  Room  was   producers  and  importers,   internaDonally  (400%  growth)  opened  in  Munich  in  December   WOTR  will  begin  offering   and  the  2nd  CollecDon:  Missy  &  2012.  MeeDng  the  consumers   promoDonal  space  on  the   Mrs  Greenjeans,  whites  from  personally  helps,  guaging   pladorm  to  partners  who  share   Kamptal,  Austria  in  co-­‐op  with  drinking  &  purchasing  habits   the  same  philosophy.   Fred  Loimer,  will  be  launched  in    via  direct  feedback  and  helps   April  2013.  brand  building.  
  10. 10. ONLINE WINE SALES YEAR TWO PLAN TASTING KITS CONSUMER EVENT CONSUMER’S CHOICEWOTR  will  be  concentraDng   A  large  consumer  tasDng  &   In  conjuncDon  with  tasDng  very  much  on  wine  educaDon   sales  event  in  Munich  is  being   events  in  the  WOTR  TasDng  and  launching  a  variety  of   planned  for  the  end  of  2013.     Room,  consumers  will  be  tasDng  kits  accompanied  by  a   invited  to  taste  and  rate  wines  custom  wine  tasDng  system   which  will  then  be  listed  in  the  and  video  series.   shop.  
  11. 11. ONLINE WINE SALES 4KEY PRACTICES PRESENTED BY FINKUS BRIPP
  12. 12. ONLINE WINE SALES KEY PRACTICES BRAND BUILDING PHILOSOPHY QUALITYIn  order  to  build  consumer   CompeDDon  in  the  wine  world   As  an  independent  wine  trust,  it’s  imperaDve  that  a   has  never  been  higher  and  with   merchant,  WOTR  prides  itself  clear  and  concise  message  be   so  many  companies  selling   on  offering  quality  products  at  communicated.  If  you  share  the   wine,  it’s  important  to   a  fair  price,  even  at  the  mid  to  same  core  values  as  your   concentrate  on  the  WHY  rather   high-­‐end.  We  cater  to  the  niche  customers,  you  won’t  have  to   than  the  WHAT.  Philosophy  is  a   and  not  to  the  masses.  take  part  in  the  price  war.   strong  branding  tool.  
  13. 13. ONLINE WINE SALES KEY PRACTICES EXPERIMENT DON’T SWIM WITH SHARKS PUSH THE ENVELOPEWhen  it  comes  to  the  way  you   As  a  100%  independent  wine   Don’t  be  afraid  to  try  communicate,  display  products,   merchant,  it’s  not  suggested   something  new  and  what  may  offer  rebates  etc.,  don’t  be   you  start  off  by  swimming  with   be  perceived  as  “going  too  far”.  afraid  to  experiment.  This  gives   the  sharks  in  your  market.   For  anyone  looking  to  do  you  insight  in  to  how  clients   Instead,  concentrate  on  carving   something  new  in  the  wine  react  to  various  methods  and   out  your  own  niche  by   world,  there’s  never  been  a  with  Dme,  helps  you  be  more   swimming  in  sDller  waters   beRer  Dme…  the  rewards  are  efficient  in  raising  conversion   before  moving  into  rougher   definitely  there.  rates.   waters.  
  14. 14. ONLINE WINE SALESTHANK YOU FOR YOUR ATTENTION KEEP ON KEEPIN’ ON!
  15. 15. STAY IN TOUCH FACEBOOK WINE ON THE ROCKS SHOPWWW.FACEBOOK.COM/WINEONTHEROCKS WWW.WINEONTHEROCKS.COM TWITTER WINE ON THE ROCKS TV WWW.TWITTER.COM/WINEONTHEROCKS WWW.WINEONTHEROCKS.TV VIMEO FINKUS BRIPP WWW.VIMEO.COM/WINEONTHEROCKS WWW.CREATIVE-WORX-MEDIA.COM EMAIL:  INFO@CREATIVE-­‐WORX-­‐MEDIA.COM  -­‐  FON:  +49.89.4209  544  770   WINE  ON  THE  ROCKS  c/o  THE  FINK  TANK  –  LINDWURMSTR.  135  INNENHOF  –  D-­‐80337  MUNICH  

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