10 Trends that Are Impacting the Wine & Spirits Industry
And how analytics can help you better understand the market
In this day and age, selling in the wine and spirits industry is tougher than ever before. Trends that are now driving sales and growth were not prevalent 10 years ago. Factors such as direct-to-consumer sales, new technology, and changing customer demographics have all turned the industry on its head.
It’s more competitive than ever before, and there are new ways to reach the buyer.
Technology is helping companies create, produce, and market their brands better. More than ever, consumers care about what’s in their alcohol and the values of the brand. And now brands have a chance to sell directly to their consumers.
How can you help your brand adapt to the changing market? Data is key, and there are mountains of it available to you if you know how to find it. By better analyzing this information, you can get a better handle on who your customer is and what they prefer. This will lead to increases sales and greater market share.
Let’s examine some of the most prevalent trends in wine and spirits today, and the impact that data and analytics could have on your business.
Analytics can enable your brand to collect data on who your average customer is, how much they’re spending, where they’re buying your products and how often they’re making a purchase.