The wine marketplace continues its post-pandemic shifts.  By Laurie Wachter The August 24 Wine Industry Sales Symposium consisted of four sessions covering the value of DTC and sales data in boosting sales, planning for the holidays, corporate gifting and luxury marketing strategy. Here’s a quick look back. Using Data Analytics to Optimize DTC Pricing and Inventory Depletion Costs have risen exponentially since the onset of the pandemic, making it even more critical to use data analytics to guide wine pricing to maximize profits.  “Wineries have an amazing amount of data from their POS systems and wine clubs that can be used to build a depletion curve, price elasticity estimates and predictive models,” says Bob Terzotis of Mather Economics.  Jim Moroney reached out to Mather after opening Sixmilebridge Vineyards (Paso Robles, Calif.) during the pandemic. “We were running out of Cabernet Sauvignon partway into our first vintage. I needed to raise t

Registration is now open for the 9th annual Wine Industry Expo (WIN Expo) and this year's educational conference sessions will include fifteen comprehensive workshops focusing on four main tracks: Winemaking & Production, Business Strategy & Leadership, Vineyard & Growers, and Sales & Marketing. The Business Strategy & Leadership track, sponsored by Mather Economics, Turrentine Brokerage, and the WBWE, will feature interactive sessions that will tackle the topics of Bulk Wine, State of the North Coast, Sustainable Operations, and Winery Mergers & Acquisitions. Read more below: State of the North Coast Wine Industry This session, presented by industry veterans and category experts, will recap the 2021 harvest and provide an update of the current state of the bulk wine market and grape/wine market with a specific emphasis on the North Coast. In addition, the panel will present sales data, highlighting consumer...  READ more about Business Strategy &

Tuesday, 13, 2021 – ATLANTA, GA, USA – Mather Economics announces the launch of its Depletion Optimization tool for wineries. “We are excited to add the Depletion Optimization tool to our service offering for wineries,” said Matt Lindsay, Ph.D., President of Mather Economics.  “We often hear that Direct-to-Consumer pricing is a particular challenge for wineries. […] The post Mather Economics’ Distinctive Tool Provides Actionable Insights for Wineries with Precise Estimates of Price Sensitivity and Forecasted Inventory Depletion appeared first on Wine Industry Advisor. Url:https://wineindustryadvisor.com/2021/04/13/taking-guesswork-out-pricing-inventory-management?utm_source=rss&utm_medium=rss&utm_campaign=taking-guesswork-out-pricing-inventory-management Published Date:Tue, 13 Apr 2021 22:14:15 +0000