This Company Is Changing How Wineries Sell To Trade Buyers
- What trade buyers are really looking for
- The presentation deck every sales associate should have
- How to make real wine shoppers work to your advantage
Today’s wine market has never been more competitive. When your sales team meets with an account, they have no more than a few moments to convince a trade buyer that they should bring in your product over thousands of others. Your sales team can point out how your product is of better quality, has a better story, or is a better value for shoppers. But more often than not, retail trade buyers aren’t nearly as interested in this kind of information. What they usually want is numbers. They want data.
Enter Label Analytics. As a data company functioning exclusively in the wine industry, Label Analytics acknowledged the communication gap between producers and trade buyers long ago. But they didn’t just acknowledge it, they became proactive about bridging it. To do this Label Analytics supplies producers with personalized, independently tested, data-driven decks for sales teams to present in meetings with trade buyers. The results? Exactly what you’d expect.
How To Communicate With Retail Trade Buyers
Before you can understand exactly how Label Analytics is improving trade sales for wine producers, it is important to remember that trade buyers don’t buy wines to consume them, they buy wines to resell them. A good trade buyer will only buy a wine if they believe they can successfully resell it to their shoppers.
So, Label Analytics took a good hard look at wine shoppers themselves. What immediately stood out is how wine shoppers can’t taste a wine while they’re in the store. Even if a wine’s “distinct terroir” or “subtle notes of cherry” are as fantastic as the label says, a shopper isn’t going to experience that until they buy a bottle off the shelf and bring it home.
With this in mind, Label Analytics arrived at the paramount question of trade sales;
What makes a wine shopper buy a specific bottle of wine?
As it turns out, the answer they uncovered probably isn’t one that the wine industry wants to hear; wine shoppers make the majority of their purchases based off of the label. In fact, an estimated 80% of a wine purchasing decision comes from the label. Eighty. Percent.
“These days with information literally at the consumer’s fingertips, the label has to tell the story and I’m not talking about words. Impression is everything on the shelf. Figuring out what impressions matter is the real trick. In the end, the shopper’s vote is the ONLY one that counts.”
- Bob Gibson, Leadinspired.net (former VP/CMO at ABC Fine Wine & Spirits)
Label Analytics had their ‘aha’ moment. They realized they could help wineries sell better to trade buyers by doing something that no one else had thought to do; running comprehensive tests of real wine shoppers’ reactions to labels in virtual-shelf studies.
Label Analytics developed a patented system that tests products’ memorability, price impression, likelihood to purchase, and more on uses real wine shoppers (aka people who are above the legal drinking age and actually purchase wine). Label Analytics takes the results and segments them out based on gender, generation, and more to compare a product with similar competitive brands in that varietal.
It’s important to point out that Label Analytics doesn’t test wine shoppers on the wine itself — they’re making decisions solely off of the packaging — imitating how wine shoppers will make purchasing decisions while they’re in stores.
The above graphic is a real example of wine shopper responses across multiple categories including purchase interest from men, women, all respondents, overall top pick percentage (how often testers selected the product as one of their top picks), and more. Also displayed is each product’s cumulative purchase interest score from on a scale of 1–100, with 100 being the best.
The information alone can be worth its weight in gold, but Label Analytics takes things a step further. They compile the results of every test into customized sales presentations called SHOPPER SHEETS.
The presentations create a perfect visualization for trade buyers to gauge how well a product will drive purchase interest in comparison to other competitive brands — and why they should bring in that product instead. When a winery’s sales team goes in to meet with an account, they can visually present how their product has a higher purchase interest than competitors using real shopper data. Why is that so effective? Because it’s data-driven, and trade buyers love data.
Helping Wineries Gain Competitive Advantage
So far producers in the wine industry have expressed high praise for Label Analytics’ SHOPPER SHEETS.
“As a senior category analyst, senior sales manager, and national account director, I’ve seen consumer data from the old controlled environment tests to electronic advancements. When I saw Label Analytics, the pool size of the respondents and the degree of testing against the competitive set immediately peaked my interest.”
- Steve Billey, Director of National Accounts at Bronco Wine Company
When asked about the inspiration behind creating the SHOPPER SHEETS, the CEO of Label Analytics stated, “It’s all about giving winery sales reps that extra tool in their toolbox. Wine retailing has become so competitive, and trade buyers are looking for something that makes your product stand out to shoppers. Based on our work with both grocery and wine retailers we have learned that trade buyers love data, so we empower wineries with digestible, relevant, real-world data about their products that can give them an edge up on the competition.”
In an effort to help producers of any size utilize the decks, Label Analytics offers a three month “Market Test License” which allows producers to do a ‘test run’ using their own decks. At the end of the three months, producers can continue licensing on a month-to-month or annual basis. It’s that simple.
When it comes to trade sales, a single piece of information can be the difference between closing a sale or losing out to a competitor. Label Analytics empowers producers with real wine shopper data that makes them stand out both on the shelf and with retail trade buyers.
We can all drink to that.