Vinexpo Bordeaux explores digital revolution
Leading wine e-commerce CEOs will participate in a pioneering conference
Online retailing is booming; so this year Vinexpo Bordeaux is dedicating a conference to learning about the digital retail revolution, its importance to the wine and spirits industry and what it takes to succeed in the rapidly evolving digital retail marketplace. A line up of leading CEOs of top wine e-commerce companies around the world will impart their knowledge, experience and expertise. Ahead of the event, Vinexpo Daily caught up with moderator Gerard Spatafora, Managing Director at E-Studi’oz. wine.
What will be the key points you make at the Vinexpo e-commerce conference?
There are different models involved in running an e-commerce company. Some work well in EU but not in the USA etc. The wine market is really different because of state regulations and consumer habits. Alongside four leading CEOs of wine e-commerce companies, we will explore what it takes to sell wine online. The CEO of IWSR will also present their latest study about Wine e-Commerce.
What are the rewards and risks for wine businesses in e-commerce right now?
By adding e-commerce to a traditional business, companies will have a lot of opportunities to reach more clients, expand their market and to grow faster. But they have to take care of duties, regulations, logistics and delivery. One of the biggest dangers is that if the company is not ready to adapt their culture, even if they have on board knowledgeable managers, it will fail. E-commerce disrupts traditional business models and a lot of companies are not ready for that.
What is the rst thing you look at in a business when assessing their strategy?
First of all, I would validate that the management team is ready to test and learn new ideas. This is the only way to innovate. Then, the company must become customer-centric and data-driven. That means the board will have to take decisions based on results (good or bad). If the board is not knowledgeable on Internet strategy, it has to trust its team to run the business and take decisions.
E-COMMERCE: WHAT IT TAKES TO SELL WINE ONLINE!
Monday 13th May 4pm-5pm
Hall 1, Room 5
Photo: Gérard Spatafora Managing Director, E-Studi’oz.wine.