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  • 140PODCASTS
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  • Jan 26, 2022LATEST

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Best podcasts about wset

Latest podcast episodes about wset

XChateau - Navigating the Business of Wine
The Cleanliness of Clean Wine w/ Erik Segelbaum, SOMLYAY

XChateau - Navigating the Business of Wine

Play Episode Listen Later Jan 26, 2022 45:31


Ever been curious about the claims people make about “clean wines”? In the same camp as “natural wines” and “better for you wines,” clean wines have no definition and often deploy misleading marketing to get you to buy their wines. They take advantage of the trend, particularly with Millenials, around a healthy lifestyle and spread misinformation in their marketing, according to sommelier and wine educator Erik Segelbaum.  Explore the rationale behind the clean wine trend and how to read into their marketing messages on this episode of XChateau!Don't forget - you can support the show on Patreon to help us keep bringing you excellent wine business content!Detailed Show Notes:Erik's backgroundWas a chef in fine dining at the Park Hyatt PhiladelphiaAs he grew into wine, he stopped drinking for alcohol and more for flavorHe became a sommelier because it was more profitable than being a chefSOMLYAY (Erik's company)Does private events, education (including with the Smithsonian), a wine writer, private cellar consulting, and hospitality/wine list consultingHas done >300 private events in the past year, primarily virtualWrote an article called “Snake Oil for Sale: The Dirty Business of Clean Wine” (pg16) for the Sept / Oct 2021 issue of The Tasting Panel magazineThe impetus for the article - Erik always gets the same questions during consumer events around sulfites, natural/clean/healthy/“better for you” winesHe gets lots of ads using manipulative advertising around the winesDefinition of Clean WineIt's an invented word. There is no definition, no standards - it doesn't actually mean anythingImplies other wines are “unclean”Drivers of the clean wine trendMillennials have taken over as the dominant wine buying cohort. They like “healthy,” and the trend is playing to their preferencesCelebrity endorsements backing trend (e.g., Cameron Diaz's Avaline)Clean wine claims are not false but spreading misinformation and are “lying by omission”E.g., all wines are gluten-freeVegan - sometimes animal products (e.g., egg whites) are used in fining but not really put into wineOrganic - does not mean any chemicals, just no synthetic chemicals (e.g., sulfites are organic and a good thing - required to make wine otherwise, nature turns grape juice into vinegar)Additives - there can be bad ones (e.g., Velcorin, which is hazardous in large quantities, and Mega Purple, which adds color and sweetness)Need to distinguish between “industrially produced wines” and “commercially produced”Industrial wines are mainly on the bottom shelf of retail and are highly manipulated wines (e.g., use lots of additives)Commercially produced can be well-produced wines, even at a commercial scaleClean wine “obscures transparency”They often manipulate where the wines are produced (e.g., don't mention where the grapes are grown, only that they are produced and bottled in a specific place)Targets naive consumersAn excellent example of transparency - Ridge Vineyards - has ingredient labeling and all relevant details on the label

XChateau - Navigating the Business of Wine
Selection and Differentiation in Grocery Wine w/ Curtis Mann MW, Albertson's

XChateau - Navigating the Business of Wine

Play Episode Listen Later Jan 19, 2022 34:44


Grocery stores are one of the biggest sales channels for wine. Curtis Mann, Group Vice President of Alcohol of the Albertson's Companies, gives us the inside scoop on buying trends, how to sell into Albertson's, and the rise of the use of digital. Learn about the dynamics of the grocery wine market and what makes Albertson's “locally great, nationally strong.”Don't forget - you can support the show on Patreon to help us keep bringing you great wine business content! Detailed Show Notes: Curtis' backgroundMBA at UC Davis in Wine Marketing and AccountingMarketing at Trinchero Family EstatesWorked in wine retail at a small placeMoved to IRI in category management in wine and spirits insightsWas Raley's wine buyer for 8 yearsGrocery as part of the wine marketMulti-outlet wine market ~$12-13B / yearTotal wine market ~$60-70B / year (multi-outlet ~20% of the total market)Albertson's Companies' wine overview~25 different grocery brands, ~2,000 storesWine is a key element of business - it drives sales and customer loyalty; some customers come to stores because of the wine selectionSome stores have up to 3,000 wine SKUsStores with more premium selections are correlated with location (high socio-economic demographics) vs. by grocery store brandFocus is more on the “premium” price segment ($9+ based on IRI)Top brands - Barefoot, Kendall Jackson, up-and-coming brands - Butter, Josh, but wine is very diversified. Big brands are still a small part of the marketPremiumization helping imports, including New Zealand Sauvignon BlancWine buying trendsConsumers are called to authenticity - they want to know what's in their wine, the appellation, sustainability, and organicConvenience - cans, seltzer, ready to drink Premiumization - $10-20/bottle, $30-50/bottle, up to $100/bottle (e.g., high-end Bordeaux, Napa Cabernet) ranges all doing well, some categories accelerating with potential out-of-stocksCovid trends - return to cooking, consumers go to Albertson's as a one-stop-shopWith restaurants reopening, a little bit of regression in sales, but still robust as cooking at home has been stickyCustomer demographics (for wine)Gen X / Baby Boomers - still buying a lot (more in bulk and volume), but less than beforeMillennials are the new customers - buying more, less loyal to wine vs. other drinks, and have less expendable income; their preferences are different from Gen X and Baby BoomersTo meet the changing demographics, Curtis looks forward 3-5 years to develop his shelf set/selections of wineConsiderable diversity of reasons people buy wine - occasion based purchasing (e.g., going to a party)Many people exploring and learning about wine (proof point - the massive increase in people taking WSET classes, including lots of consumers, not just professionals)Promotions / discountingLimited brand loyalty in wine, customers often default to priceGiven that, promotions are pretty importantWe need to work between price and product to optimize sales and not over-rely on priceWine selectionWhat does it mean to customers? Each wine must have a purpose vs. the other ~1,500 SKUs on the shelfThis could be style, story, or location/appellationWant to remove redundancy on the shelfTagline - ‘locally great, nationally strong'; try to give local stores more voice (e.g., Portland stores have more Willamette Valley Pinot Noirs)Flagship Stores (e.g., Andronico's, Pavilions) - higher-end, eclectic offeringsSteps to sell into Alberston's - have the 4 P's put together - distribution network, pricing, product, and where you fit on the shelfGenerally need to place wine 4-6 months in advanceIt requires a UPC code on the bottlePrivate Label / “Own Brand” winesThe goal is to provide the best price to value for customersThe intent is to drive loyaltyNot a dominant part of the businessTrying to create wines that are a draw and get good scoresSelection is built around education, desire to learn about wine category through own brandsSuppliers have connections to maintain supply, which can help Own Brands overcome supply challenges (e.g., 2020 Napa, 2021 New Zealand)Digital AdoptionVirtual tastings - have done well, 1,000s of people sign up, people buy the wines beforehand or buy wines later and watch the tasting on YouTubeAppeals to groups of customers who don't get to visit wine countryWill continue post-CovidDo education tastings 1x/monthKeys to engagement - consumers have lots of questionsThe team engages with customers via chatKeep it educational - need a balance of explaining concepts but keep it understandableConsumers using their phones more for education want to reduce the complexity of wineWine e-commerce - working on expanding this, challenging due to state regulationsExpanding drive up and go (“DOAG”)Delivery (e.g. - Instacart) growingStill a small portion of salesCore elements of success for the grocery channelThe selection keeps people in the storeRelating the wine to the food in the store (food - wine pairing)E-commerceConvenience (e.g., ready to drinks)

XChateau - Navigating the Business of Wine
Democratizing Wine Retail w/ Jeffrey Shaw & Jeff Hardy, Underground Cellar

XChateau - Navigating the Business of Wine

Play Episode Listen Later Jan 12, 2022 52:23


With a vision to democratize wine for every wine drinker in the US, Underground Cellar's founder and CEO Jeffrey Shaw and COO Jeff Hardy are focused on building a unique and disruptive platform for buying wine.  Leveraging gamification principles, Underground Cellar gives you upgrades to the wines you buy, giving customers access to more expensive and rare wines.  This has expanded into free wine storage in their Cloud Cellar, which they hope to build more community and a trading platform around.  Dig into how it got started, the value proposition for wineries, and where they are going in this episode of XChateau!  Underground Cellar offers listeners a discount code for $100 off your first purchase of $150 or more with promo code: XChateau at undergroundcellar.com. Like what you hear?  If you'd like to support us in bringing you the best content on the wine business, become a patron at Patreon.  Detailed Show Notes: Jeffrey Shaw's backgroundFell in love with wine in college, wine tasting, etc.Had a small exit with his first company and wanted to do something in wineStarted 6 companies simultaneously (based on a statistic that 5 out of 6 companies fail in the 1st year) to find 1 to focus on, dropped the rest after 90 days except for Underground CellarThe goal is to “democratize” the wine experience and convert wine drinkers to wine collectors for lifeJeff Hardy's backgroundTech background, worked at Google and Yahoo!, building smaller startups focused on small and medium-sized businessesUnderground Cellar's modelCurate wines into collections (e.g., Napa Valley Cabernet)People don't buy specific bottles, but into a collection with different price point wines50% or more of the bottles you buy are upgraded to more expensive bottlesCollections can include rare wines (e.g., a Heidi Barrett signed bottle of Screaming Eagle)Cloud Cellar - everyone can store up to 500 bottles for freeUpgrade determinationan algorithm helps determine the number of upgradesFocus on lifetime value received as a customerGoal to “democratize” wineThree elements of wine that can be democratized - knowledge, money, and relationships/accessUnderground Cellar tries to educate in easy to understand, more approachable waysUpgrading allows customers to experience higher levels of wineAbility to source some scarce, valuable, and hard to find wines enables access to these winesTarget market = everyoneWine aficionados - enticed by the rare wines available (e.g., the signed bottle of Screaming Eagle)New wine drinkers - want great value, like the process of being upgradedWine lovers building collections - want variety for their collections, which is inherent in the collectionsSupplier benefitsWines are never discountedUnderground Cellar can buy small lots of wineCan buy less popular varietals, etc.Promotes the brand and story on social media (~12k followers on Instagram) and email (~250,000 email subscribers) => wineries have said that foot traffic and sales spike after being featuredCloud CellarGet unlimited duration storage for 500 bottles for freeLet's people buy wine when they usually couldn't due to weather/shipping constraints or for space/storage constraints85% of customers use Cloud Cellar, most storing ~1 case - most customers use it to buy wine at any timeFuture: people can start to trade with one another on the platformMarketing channelsUse social media, direct mail, radio#1 channel has been direct referrals - people like to share their upgrade storiesOffers a “Give $50, get $50” referral programFuture: the potential to add wine as a reward in Cloud Cellar, similar to Robinhood referrals where you get one share of stockBarbara Corcoran is an investorInitially approached Mark Cuban via email, but he doesn't invest in alcoholApproached Barbara afterward to prove Mark Cuban wrongTechnology platformBuilt from scratch in-houseThe new upgrade model was not supported by other platformsNeeded to de-couple wine buying from wine-shipping60 employees currently, including data scientists and business insights analystsFuture for Underground CellarWith 84M people in the US as wine drinkers, lots of room to growWant to get the experience out there to more peopleThe goal is to make the experience fun and excitingWant to build community within Underground Cellar and turn people into collectorsPromo Code for listeners: $100 off your 1st purchase of $150 or morePromo Code: XChateauGo to www.undergroundcellar.com

XChateau - Navigating the Business of Wine
Adaptation: 2021, a Year of Re-Opening, Wine Pricing, and Clean & Natural Wine

XChateau - Navigating the Business of Wine

Play Episode Listen Later Dec 23, 2021 65:53


2021.  A year with big expectations.  The re-opening of economies around the world with Covid vaccines in distributions instead led to fits and starts with the Delta and Omicron variants.  Wine pricing and costs went through gyrations with the tariffs between the EU and US imposed and then lifted and supply chain disruptions creating both cost and availability issues.  And clean and natural wines continued to become a broader topic amongst wine consumers and the trade who struggle with their definitions and impact.  XChateau assembled a panel across the wine value chain (Producer - Diana Snowden Seysses of Snowden Vineyard and Domaine Dujac;  Importer - Xavier Barlier of MMD; Distributor - Michael Papaleo of Banville Wine Merchants; Retailer - Kyle Meyer of The Wine Exchange; and Lisa Perrotti-Brown MW of The Wine Advocate) to discuss these issues and answer audience questions live on Clubhouse.  A wide-ranging and captivating conversation!Also, people have asked us how they can support the show.  So, we recently launched on  Patreon, where your contributions will help keep the wine business content flowing! Detailed Show Notes: Panelists: Producer perspective - Diana Snowden Seysses, winemaker at Snowden Vineyards in Napa & Domaine Dujac in BurgundyImporter perspective, Xavier Barlier, SVP of Marketing & Communications for Maison Marques & Domaines USA, the importation arm of Champagne Louis Roederer and related companiesDistributor perspective - Michael Papaleo, VP of Sales at Banville Wine Merchants, an importer and distributor focused on the New York, New Jersey, and Mid-Atlantic regionRetailer perspective - Kyle Meyer, Managing Partner of The Wine Exchange, a leader wine retailer in Orange County, CaliforniaWine Critic / Reviewer perspective - Lisa Perrotti-Brown MW, Editor-in-Chief of Robert Parker's The Wine Advocate for the last 13 yearsTopic: Re-opening from CovidDiana - producers in Napa and France weren't required to close. Their biggest concern was keeping employees safeMike - learned how to conduct non-in-person sales (online and on the phone) by creating compelling content and using humor to find ways to engage accountsLuxury wines did well - the average case price pre-pandemic was $136/case; increased by $30/caseOn-premise recovered, but not all the way - 2019 - 55% on-premise, 2020 - 27% on-premise, 2021 - 44% on-premiseCollectors who were drinking through their wines started re-filling their cellarsBanville Wine Merchants was able to expand through the crisis (headcount went from 12 salespeople in 2020 to 16 in 2021, with 21 expected in 2022)Kyle - 2020 Q2/3 - online orders went up dramatically - people bought everything2020 Q4 - needed more inventory, supply chain issues created lack of access that persisted into 2021A lot of people are now comfortable buying wine online, do to a big pick up business75% of sales online pre-Covid, now 85-90%2021 felt more normal, like 2018 (2019 had issues w/ tariffs, etc.)Xavier - MMD's luxury portfolio was positioned mainly towards on-premise Pivoted to off-premise (e.g., high-end Safeway stores in Los Angeles)Champagne shortages in 2021 - Roederer is sold out, pricing of Champagne is higher than it was before, bubbly is more popular than everLisa - The Wine Advocate piggybacked on the success of online wine sales -> web views were up 10x vs. pre-Covid, subscriptions showed strong growth, but not as much as web viewsEvents had to be canceled in 2020, tastings re-factored, including re-packaging wines into little bottles for tastingsPulled off some events (e.g., Kings of Rhone, Bordeaux 2010)End of 2021 - lots of Zoom fatigue, people want in-person events, but push for smaller events (e.g., masterclasses, dinners) to avoid large groupsHope to keep some virtual events in the future w/ hybrid elementsXavier - used to have to travel a lot before, pivoting to virtual staff training in the B2B context in 2021 was more efficient and convenientTopic: Inflation / Wine PricingKyle - some prices have gone up, but more steady than expectedCA prices are going up because of the light 2020 vintage (fires)Bordeaux 2020 releases prices much higherBurgundy - pretty steady pricing with slight increasesGermany - top producers are increasing prices as they were underpriced beforeXavier - w/ tariffs and increased shipping costs, MMD has tried to absorb the impact with their partners - sharing ⅓ producer/supplier, ⅓ importer/MMD, and ⅓ distributorMike - bought long on some products pre-tariffs, which helped through the first half of 2021Did reduce some margins and tried not to pass on increased costs to customersSome allocated Burgundy had to pass on cost increasesLisa - people looked more at domestic wines than usual, specifically 2018 and 2019 Napa wines, primarily because of 2020 fires and short vintageBordeaux 2020 is a lot higher pricing than 2019, even with a less consistent vintageDiana - had supply chain issues pre-Covid, including a glass shortage (as only river sand can be used, not desert sand)Have learned to order early to deal w/ shortages (e.g., glass, labels, capsules)Facing labor shortages globallyWineries have absorbed increased costs of glass and corksTopic: Clean & Natural WinesLisa - there is no definition of clean wine. It's just a marketing fabricationNatural wine is a misleading term as well. It means different things to different peopleKyle - no one has asked for clean wine yetCustomer curiosity around natural wine, but people believe they are faulty wines (e.g., mercaptans, Brettanomyces)Wine merchants need to educate consumers around these topicsXavier - positive part of this trend is that it creates a conversation around wineDiana - need to educate consumers around sustainability. It's positive that people are worried about the climate and sustainability. If there's no definition of the term, it becomes greenwashingAudience Questions: Matthew - how do you best educate, communicate organic sources, and implement sustainable practices without greenwashing? Lisa - be very honest about what you're doingKyle - make them “a” point vs. “the” point, the wine should be “the” point, make the best wine you canZiad - how is the wine sector coping with climate change? Lisa - need to live w/ extreme events (e.g., wildfires, water shortages) more frequently, all over the worldXavier - Piemonte & Champagne have benefitted from climate change, and some have adapted winemaking; e.g., Louis Roederer has evolved their Brut Premier multi-vintage wine to “Collection 242,” a new multi-vintage wine that will have a unique number and release each year as the wine is now based around a single vintageDiana - there are two conversations - one on adaptation and one on decelerating climate change through GHG emission reductionsAdaptation - France has to deal with frost issues, especially in Burgundy, Napa has drought and heat

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Dec 17, 2021 13:25


Today on The Fast Lane with Ed Lane - Ed and Trey Lyle talk about the comparisons being made between Hugh Freeze and Urban Meyer - Dave Walls previews the Lending Tree Bowl for the #LibertyFlames - Chris Coleman TechSideline.com on how the #Hokies did on early signing day

XChateau - Navigating the Business of Wine
E80 - Becoming a Wine Retail Institution w/ Phil Bernstein, MacArthur Beverages

XChateau - Navigating the Business of Wine

Play Episode Listen Later Dec 15, 2021 40:36


An early mover focusing on fine wine, Bordeaux and California futures, and becoming a dual importer/retailer, Addy Bassin's MacArthur Beverages has become a wine institution in Washington DC.  Phil Bernstein, General Manager of the brick & mortar wine retail store and importer, tells us about how he thinks about wine pricing, direct importing wines, the changes in consumer buying patterns, and more as we continue to delve into the future of wine retail.  Detailed Show Notes: Phil's backgroundHe grew up in Long Island, played Trumpet, and pursued a career as a professional trumpet playerHe ended up begging for a part-time job at a retail shop in Ann Arbor, MI, and got his start in wineSaw a job at Calvert Woodley in DC on winejobs.com and moved to DCHe moved to Macarthur Beverages so he could become a wine buyer and became GM in April 2018Macarthur Beverages historyAn institution in DC, in the Palisades suburbsFounded in 1957 by Addy Bassin and his wife, RuthOne of the 1st to offer Bordeaux En PrimeurHe was notable for bidding on one of the Jefferson wine bottlesThey had a focus on fine wine from an early stage Both a national shop (because of fine wine focus) and a neighborhood storePre-pandemic - 50% online / 50% in-store; today - 70% online, 30% in-storeUsed to have tastings every Sat in-store to drive foot trafficPeople now do curbside pick up after ordering onlineDoes a lot of DC area delivery (can only legally deliver in DC, not nearby suburbs in MD or VA)Physical store for wine retail - “nothing beats the human interaction”Pricing for wine retail - “price is everything”Believes that price often trumps customer loyaltyLooks at wine-searcher.com when pricing wine, having the best price on wine-searcher meaningfully drives salesUsed to do a standard markup with a case discount, but believes now having the best price upfront is key“Reliability” for MacArthurs is good customer serviceTake care of the wine (temp control, only ship when weather is good)Never makes vintage substitutionsAlways makes good on promises, even if they end up losing money on the saleBoth an importer and a retailerOnly possibly in DC and CA in the USCan buy Bordeaux direct from negociantsHave access to more fine wine from overseasCan cut out the middle man - improving profitability and reducing the price to the customerFinding their wines to direct import - have exclusivity, mostly locallyImports 6-7 full 50ft containers a yearNot allowed to sell to other distributors or retailers~60% of business from wholesalers, ~40% importedBelieves more importers will sell direct over timeBordeaux Futures/En PrimeurThe value of it can vary a lot by campaignThe only way for it to work is for wines expected to either be sold out or at higher prices when the wines are released for customers to tie up their moneyIn most years, En Primeur only works for the top 50-75 wines, which doesn't make sense for most Petit Chateau2019 campaign - Bordelais knew people couldn't taste during En Primeur due to Covid, Pontet Canet and Angelus came out early with low prices and set the tone - lots of interest and buying2020 campaign - “somewhat of a dud,” Bordelais took prices back up to between 2018 and 2019 levelsCalifornia FuturesStarting to go away from this modelIn the early 1980s (pre-internet), set up barrel tasting of CA wine producers, people could taste the wines and order futures at a discountE.g., Randy Dunn, Ridge, Shafer were some producersRobert Parker came and did a private tasting after the eventIt has since been taken over by the internet, mailing lists, and wines have wider distributionNow more of a social event, less about selling wineCustomer demographicsLargest revenue from males 45-54Growing population according to Google Analytics - females 35-44, more younger buyers tend to be femaleBuying habits changingThe old model - buy by the case (based on points and price)The new model (as wine prices have gone up and selection has increased) - lots of 1-2 bottle buying, trying things from all over the placePoints are less importantRestaurants are a way for consumers to explore new types of wineBourbon is a very hot categoryCommunications Email is still the #1 way to sell wineSocial media - doing more, can highlight boutique items, good for promoting local events (tastings, wine dinners)YouTube - did some video tastings for customers - got excellent feedbackWorking with a digital marketing company

XChateau - Navigating the Business of Wine
Driving Personalization in Wine Retail w/ Addie Wallace, Wine.com

XChateau - Navigating the Business of Wine

Play Episode Listen Later Dec 8, 2021 41:44


As the largest wine e-commerce site globally, Wine.com has been a leader in leveraging technology to sell wine. Addie Wallace, Director of Brand Marketing, gives us insight into how wine.com leverages the marketing funnel to drive awareness and conversion, has built a differentiated offering online, and is pushing the boundaries of customization with their new personalized wine club Picked. There's a lot to learn about the future of retail in this episode of XChateau! Detailed Show Notes: Addie's backgroundShe started her career in financeIn business school, led the Wine & Cuisine Society and created a wine recommendation appCompleted her WSET Level 3Pitched Wine.com an idea to have a personalized wine club, which she launchedManages brand, customer insights, and subscription businesses for Wine.comWine.com's historyIt started as evineyard.com in 1998Acquired wine.com URL and brand in 2001 when original wine.com went bankruptKey milestonesThe most extensive assortment of wine in the world, over 17,000 wines vs. ~2-3,000 in a typical wine storeLive chat functionality w/ sommeliers (started 6-7 years ago, one of the first to use the functionality) - replaces people in aisles helping you in a wine storeBuilding out physical presence - serves 42 states and DC, can reach 80% of customers in 2 daysWorking on personalization$355M in revenue in Fiscal Year 2021E-commerce trendsBelieves e-comm growth will continue, but not at the same pace in the pandemicPandemic showed people they could shop for wine online (built awareness)2016 study - showed e-comm only ~3% of alcohol shoppingWine.com core differentiatorsVariety / selection - leads to continual discoveryLive chat - people are not commissioned, only there to help you find the best winesConvenience - including StewardShip for free deliveryPersonalization - with Picked, the personalized wine club, and building more personalization into the websiteMarketing channelsUses different channels for different parts of the marketing funnelTop - get people to know the brandMiddle - get people familiar with how the brand is differentiatedBottom - use promotions to get people to convertWine.com does a lot of digital advertising - social media, affiliate marketing, search, Google shoppingEach channel is effective for different customer needsE.g., - Google Shopping - good for when customers are looking for something specificPodcasts - for educating people that they can buy wine online and get them to shop at wine.comSearch/Google Shopping - has the largest # of eyeballsHigh ROI - direct mail, the non-digital marketing Wine.com doesDiscounting / coupons - help with getting customers to convert, promotions need to be structured to attract the right audienceSocial media - has been challenging, changing regulatory landscape, privacy restrictions, and constantly changing algorithm, as well as lots of competitors using it makes it hard to be winning at it and need to evolve continuallySome marketing channels are hard to measure results - e.g., - print media (can use QR codes or promo codes to help track)New channels - spending more time on podcasts, new social platforms (e.g.,-  Snap, TikTok) don't currently allow alcohol adsStewardShip ProgramIt started as a free shipping program, for an annual fee (currently $59/year)It gets consumers to shop more frequentlyBecoming more comprehensive, like Amazon Prime, more perks to feed the wine lifestylee.g., -  free tickets to events, both in-person and virtual (gave away 100 free tickets to James Suckling tasting events, 1:1 virtual tasting with the Gaja family)Special promotions and early access to some wines~60% of revenue is from membersDrives high retention rate for membersThe annual fee pays for itself if you buy 2 cases/year~$40/case, ~$30/6 bottles to ship normallyPicked - personalized wine clubLaunched in 2020Tell them wine preferences, get matched with a personal sommelierSelect 6 wines every 1-3 monthsNo two customers get the same thingLeverage tech to make sommelier selections more manageable and more diverse, but lots of human judgementThe sommelier writes a personal note for the winesOne sommelier could theoretically support thousands of Picked customersClub differentiationPersonal elementSelection - a lot of new discoveriesOnly sell “real” wines, no private labelsLevel of control/customization - price points, frequency, feedback, amount of red vs. whiteSome overlap w/ StewardShip but primarily targets different segmentsStewardShip - more self serve customersPicked - people who want more help in selectingOther wine.com personalization initiativesMaking the largest wine store curated just for youElevate recommendations and put them in contextUse prior purchase data, ratings, and if a wine was added to the shopping cartUser ratingsStewardShip members rate more frequentlySend emails to encourage ratingsWine.com App - users more likely to ratePicked members provide ratings to help personal sommsLeveraging technology to elevate the wine retail experienceRecommendation engines, email programsWine.com App - the store and wine encyclopedia in your pocketVirtual tastingsWine.com is likely never to go brick & mortarWould limit the selection availableWould limit personalization of experience

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET Sports Director

The Fast Lane with Ed Lane

Play Episode Listen Later Dec 3, 2021 15:40


Today on The Fast Lane with Ed Lane: - Ed and Trey Lyle give their #VotesofConfidence for Championship Weekend - Dave Walls on HSFB Playoffs and Coaching Changes for #Hokies and #Hoos - Dennis Dodd on Bronco stepping down as UVA HC

XChateau - Navigating the Business of Wine
Selling Rare Wine w/ Dave Parker, Benchmark Wine Group

XChateau - Navigating the Business of Wine

Play Episode Listen Later Dec 1, 2021 37:28


Beginning a series on the Future of Retail, we chat with Dave Parker, CEO of Benchmark Wine Group, on how he segments the retail wine market, the unique issues of rare wine, and emerging trends in the space.  Listen in to learn about what regions are selling well, the importance of email marketing, a mobile-first mindset, and many other topics that will shape wine retail for the coming decade.  2021 Year-End Episode Live on Clubhouse - Mark your calendars for December 9th at 12 pm Pacific time!Detailed Show Notes: Dave's backgroundWas in high tech, bought a vineyard to be in the wine business originally1998 - started Brentwood Wine Company in Oregon, the internet's 1st online auction house (had challenges as Oregon requires ownership of product before auctioning it)2002 -He started Benchmark Wine Group in California - CA allows someone to hold both retail and wholesale licensesWine Retail LandscapePopular Wines - sold in grocery stores, consumers want something to have with dinnerFine Wine - mostly current releases sold, buyers knowledge of wine and have brand loyaltyRare Wine (where Benchmark specializes) is not generally available, either back vintages of fine wine or ultra scarce products sold only to allocation lists. The wines need to be able to age and often cost $100+/bottle.Collectors and investors have deep knowledge of the wines, understand how they appreciate in value, and how well they age, but are  also  concerned about condition and authenticityRare Wine TrendsUsed to be classified Bordeaux dominated the marketBurgundy has emerged and appreciated in valueChampagne has also solidified its spotDuring US-EU wine tariffs on many EU wines (25%) - Champagne and Italy increased in demand (did not have tariffs)Rhone and Spanish wines emerging over timeLargest rare wine markets in the USCA and Tri-State area (NY, NJ, CT)FL, TX, and IL are also largeCollectors in every state in the countrySustainability becoming an essential topic across all consumer categoriesBenchmark Wine Group - focuses on the rare wine marketLargest selection of rare wines, ~13,000 wines with ~100,000 bottles at any given time (~70-80% of wines come from private collections)Provenance Guarantee - meticulous on how wines are inspected, and Benchmark handles all the transportationHave on-staff sommeliers and salespeople to work with clientsMargins look more like a distributor than a retailer - have to take more risk around the ability to sell the wines and more specialized labor for inspectionCan ship to 45 states - transactions take place in CA, buyer technically ships wines to themselvesBenchmark vs. auction housesBenchmark advantages - price certainty, immediate payment, prices often on the high end of auction pricesAuction disadvantages - no guarantee of sale, sale and payment could take monthsRare wine pricingAlso owns the Wine Market Journal - expert source for auction information, data from 1986, provides a baseline for selling priceTracks sales from some large retailersWine-Searcher shows asking prices vs. selling pricesTechnology & wine retailEmerging trends - leveraging AI for label scanning and wine recommendationsIn-person tastings to come back but still have virtual and hybrid experiencesBenchmark does “Raid Your Cellar” - where a sommelier talks to a winemakerNYC Wine Spectator's Wine Experience in 2021 - hybrid event - Masterclass instructors were sometimes in person, sometimes remoteEmail marketingWill continue to be the most efficient and effectiveMore than one email/day from a retailer can be overwhelmingBenchmark does some email segmentation to reduce “spam”Segment by region - e.g., only get emails for Bordeaux, Burgundy, etc.Segment by wine age - e.g., only last 20 years of wines, not older vintagesRare wine collectors older (mostly Gen X, Baby Boomers) - still prefer emailSome younger customers (Millennials) prefer instant messaging, textUse of mobile is more important than native apps (don't provide that much more functionality vs. mobile designed websites)Vivino - sits in-between retailer and consumer, creates a 4th or 5th tierWine ScoresCritical the higher up the price curve you go - provides a guide for consumersAdds credibility to producersAffirmation for a particular wine for a specific vintageConsumer reviews (e.g., CellarTracker, Vivino) can be used for more recent tastings vs. professional reviewersPotential for market disruptionConsolidation likely to continue - Total Wine, Costco - continue to build out more nationwide reachTechnology - wine world catching up with the rest of the worldSmall retailers - need to compete with more personalized service, which can leverage tools to be virtual nowDelivery to door, sometimes in hours or minutes in some states

Intervin
Intervin - ep. 36 - WINE BAR cu Laura Copil

Intervin

Play Episode Listen Later Nov 24, 2021 44:03


Laura Copil este o iubitoare și o cunoscătoare a vinului – a preluat pasiunea de la tatăl ei, enolog. Laura a vrut să învețe serios despre vinuri, așa că absolvit primele 3 nivele ale prestigiosului curs WSET. Iar apoi a deschis două wine-baruri în București – VINO wine&more pe strada Eminescu și VINO bubbles&tapas, pe bulevardul Iancu de Hunedoara. Am discutat cu Laura despre ce vinuri preferă clienții de la wine bar, despre cum fac față vinurile românești în competiția cu cele străine și despre cum se descurcă un business din Horeca în plină pandemie, atunci când ora de închidere este 21:00. Dacă vrei să asculți episoadele Intervin în premieră, înainte să apară pe pagina de Facebook, intră pe www.intervin.show și lasă-ne adresa de email. O să-ți trimitem fiecare episod imediat ce apare, plus alte informații sau articole din lumea vinului care ne-au atras atenția. Episoadele Intervin pot fi ascultate și pe youtube, la https://www.youtube.com/channel/UCn3JqendJK-Z38DQNn5vZlQ Ne găsești și pe Facebook, la https://www.facebook.com/Intervin.podcast Iar dacă crezi că Intervin merită mai mult decât un like, intră pe patreon.com/intervin și lasă-ne o donație.

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Nov 19, 2021 12:27


Today on The Fast Lane with Ed Lane - Ed and Trey Lyle give their #VotesofConfidence for the games this weekend - Dave Walls on HSFB Playoffs - Chip Patterson on #Hokies HC Search - Kirk Morrison previews #Hoos vs #PITT

XChateau - Navigating the Business of Wine
Maintaining Ex-Chateau Quality w/ Denis Houles and Erik Portanger, 1275 Collections

XChateau - Navigating the Business of Wine

Play Episode Listen Later Nov 17, 2021 49:56


Having experienced the difference in taste from wines sourced ex-chateau versus the secondary market, Denis Houles, CEO of 1275 Collections, is on a mission to create a new wine asset class of pristine conditions wines. Denis and Erik Portanger, Head of Strategy at 1275 Collections, tell us about the industry-wide issues around provenance, particularly with transportation and storage, and how 1275 leverages technology and direct chateaux relationships to build a solution to keep the wines as if they never left the chateaux. Detailed Show Notes: Denis' backgroundHe grew up in the south of France, fell in love with wine in BordeauxMIT engineering grad lived in Rome, got a Stanford MBA, and worked at McKinsey & Company in LondonBelieves in working in what you're passionate about and founded Claret Club in 2003 - a private members club centered around wine, having chefs crafts food around the wine instead of vice versaErik's backgroundA financial journalist for the Wall Street Journal in London was about to also write about personal passions, which was wineHe went to 1st Claret Club even in 2003 with Chateau Palmer and had his 1st wine epiphany1275 Collections OverviewFully documented, fully transparent way of collecting pristine wine from chateauxBased in the freeport of Geneva - wines held in bond, no sales taxes until removedPurchase directly from chateaux or negociant, sometimes get back vintages“Internet of Bottles” - NFC chips with credit card grade security, for provenance and monitoring of temperature and humidity, pairs with a mobile appData per bottle and case, only tracked while in 1275's controlProvenance: issues with storage and transportationProvenance is more than just not being fake, but also how many hands the wine has passed through and storage conditionsFine wine often moved between warehouses in trucks - often unrefrigeratedLVMH launched its own traceability platform called AuraOctavian Vaults in the UK - requests for photos of bottles has increased ~30% each year for the last few years, highlighting the growing consumer awareness of strong provenanceProvenance premiumSome are high, e.g., DRC from Drouhin cellar sold for ~$500k/bottleHistorically, the premium is meager - ~2-3% because most wines are bought and sold by tradersPremium increasing over time - auctions and library wines sold from chateaux selling for higher premiumsTraceability solutionsPure trackingComprehensive - tracking and monitoring (temperature, humidity)eProvenance is a B2B solution for wineries and importers1275 Collections believes a fully traceable stock of wines will come1275 believes wine damage from storage/handling is a more significant issue than counterfeit winesWine StorageThere is minimal research on the impacts of storageThe more researched area is the impact of transportation  - road transportation is worse than cargo shipsLack of transparency and accountability in the industryKey things to track - temperature, temperature fluctuations (change pressure in the bottle), humidity, circulation of air (to prevent mold), lack of contaminants (free of bad smells) - mostly TCA1275 Business ModelEnd-to-end solution for people who want a great wine collection, direct from estates with technology to have full traceabilityCollections start at €25,0002% annual management fee (includes sourcing, transportation, insurance, and storage)For €100,000+ - a one-off advisory fee of €4,000 and lower management fees (1.4-1.8%)~€15M+ under management currently (October 2021)

A Cork in the Road
Episode 5.4 - Sedale McCall, Untold Wine Stories

A Cork in the Road

Play Episode Listen Later Nov 17, 2021 37:07


Sedale McCall is the owner of Untold Wine Stories, a brand that believes "Storytelling is Social Justice'' and in the power of highlighting a wide variety of wine stories. I ask him to describe the type of stories he likes to uncover, and we talk about his dedication to an academic approach to wine exploration. A Virginia native, Sedale's wine journey started in Virginia wine country, including winery tastings, harvest internships, and more. We chat about his experience working the 2021 harvest for Early Mountain Vineyards and what makes him excited about the future of Virginia wine. Sedale received his WSET Level 2 with Distinction with plans to continue his studies in American Wines and additional WSET coursework. You can follow all of his adventures on social media at @untoldwinestories. Recorded October 27, 2022. --- Support this podcast: https://anchor.fm/acorkintheroad/support

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Nov 12, 2021 17:35


Today on The Fast Lane - Ed and Trey Lyle give their #VotesofConfidence - Dave Walls on Round 1 HSFB Playoffs - Doug Doughty previews #Irish vs. #Hoos

XChateau - Navigating the Business of Wine
Productivity and Community with Eric LeVine, CellarTracker

XChateau - Navigating the Business of Wine

Play Episode Listen Later Nov 10, 2021 43:27


Building the app while on sabbatical from Microsoft in 2003, Eric LeVine, CEO and founder of CellarTracker, had been close to a one-person show until recently.  Yet, he's built one of the most useful productivity tools for wine collectors, an engaged community of geeky wine lovers, and a respectable business that he's now investing in to grow and take to new heights for the benefit of the CellarTracker community.  Eric's openness and candor provide an in-depth look at how one of the leading wine platforms was founded, built, and where it's going next. Detailed Show Notes:Eric's background“Tech geek” to “wine geek”He was at Microsoft from 1992 - 2005; his last project was the “send error report” feature1999 - took a biking trip to Tuscany and fell in love with wine and started collectingBuilt a tool to keep track of his cellar, then let a few friends use it, which morphed a personal spreadsheet into a relational databaseEric created CellarTracker while on sabbatical from Microsoft in 2003, then in April 2004, launched it publicly and left Microsoft a few months laterCellarTracker overviewCore element - a productivity tool to catalog and manage every aspect of the wine experience (e.g., purchasing, tracking, consuming)Byproduct - “Yelp for wine” - the aggregated wisdom of the community from tasting notes, drinking windowsUser base10M unique people visit the site~750k registered users~300k active usersWine database4M wines created135M bottles in cellars9.1M tasting notes in the community + 1.3M professional tasting notesFeatures and functionsOptical recognition of labels - partners with VivinoMost used features - tasting notes (~10M visitors/year on the website, most people reading or researching the tasting notes; ~9.1M tasting notes growing ~750k / year / ~2k / day)Features collectors use - what wines do they have, when do they want to drink them, what are wines worth (the main premium feature)Wine valuations - partner with Wine Market Journal for appraisals, overlaid with what people are paying for the wines in CellarTrackerDrinking windows - updated by users, partnership with review publications to overlay their data for subscribers of their contentSurprise & Delight feature - the ability to print a restaurant-style wine listGeekiest feature - can print unique barcodes for your bottles and use a scanner to check them in and outDefault mode - creates a unique barcode for each specific bottleFor restaurants - uses same code for each wine of a particular sizeConducted research into the wine collector space~18M people in the US store wine at home / in a wine fridge~10% awareness of CellarTracker in the US~5-10% awareness of CellarTracker globallyData analyticsThey just hired the 1st data scientist several weeks ago (as of Oct 2021)They haven't done a lot to dateUser ratings - can track/follow specific authors, most often used for older wines at auction as one of the only sources of data for older winesRichard Bazinet authored research in 2016 of an analysis of community ratings vs. professional publicationsNever specifically built tools to enhance “influencers” in the system, was anti “gamification” elements to incentivize people to write tasting notesData accuracy - has a team of 4 (some PT/ some FT) to curate the wine database and look for duplicates, use both automation and humans to have duplicate detectionBusiness model“Voluntary Payment” - one of the early “Freemium” business modelsEstablished this because the value of CellarTracker is in the active community, and the data it creates makes the platform more robust and valuableSuggested payment based on the size of collection - avg ~$57/year$40/year for

The Swirl Suite
Alexandra Schrecengost of Culture With Us

The Swirl Suite

Play Episode Listen Later Nov 10, 2021 48:02


CEO of curated virtual events company Virtual With Us & Culture With Us, with more than 15+ years of experience in wine, spirits and luxury hospitality communications. Alexandra is the Founder of Virtual With Us, curated virtual experiences and Culture With Us, the missing link between hybrid, remote and in-person employees with offerings for unique corporate gifting and bespoke hybrid experiences for corporations. A WSET level 3 certified wine professional and longtime fine wine and spirits communications specialist, Alex launched Virtual With Us when she saw her husband and his colleagues' need for nurturing and building professional relationships. Virtual With Us is the only virtual events business that's focused on high quality interactive experiences and ultimately relationship building in the workplace--for socialization and interaction with colleagues, so no one feels like they are in a silo. Giving voice to diversity and inclusion are at the center of Culture With Us, especially in the digital medium which will be the backbone for vibrant workplace cultures and inclusion in the future--whether it be hybrid virtual onboarding first day meet & greets, office tours, retreats/off-sites and corporate gifting. Alexandra is currently studying for the WSET Diploma, and holds a Masters of Public and Organizational Relations from Montclair State University. She serves on the beverage committee for The James Beard Foundation on and on the board of Self Help Africa. Alex lives in New Jersey with her husband and their identical twin boys.Follow Alex and Culture with Us:https://www.instagram.com/alexschrec/?hl=enhttps://culturewithus.com/ Follow The Swirl Suite:SwirlSuite@gmail.com@SwirlSuitewww.swirlsuite.com Sarita @VineMeUpTanisha @GirlMeetsGlassLeslie @Vino301Glynis @Vino_NoireSupport this show http://supporter.acast.com/SwirlSuite. See acast.com/privacy for privacy and opt-out information.

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Nov 5, 2021 17:30


Today on The Fast Lane with Ed Lane: - Ed and Trey Lyle give their #VotesofConfidence - Dave Walls previews the end of the regular season in HSFB - Paul Carcaterra gets you ready for the matchup between the #Hokies & #GoldenEagles

XChateau - Navigating the Business of Wine
Fine Wine End-to-End w/ Don St. Pierre and Adam Lapierre MW

XChateau - Navigating the Business of Wine

Play Episode Listen Later Nov 3, 2021 40:07


As the only fine wine end-to-end solution in the US, Vinfolio has recently launched its wine investment service, leveraging its deep expertise in the fine wine arena. Don St. Pierre, Executive Chairman, and Adam Lapierre MW, President, tell us about Vinfolio's history, how the marketplace, storage solution, and VinCellar work together, as well as get into their recent foray into wine investment. A must-listen for those intrigued with wine investment and for fine wine lovers in general. Detailed Show Notes: Don St. Pierre's background1996 - founded ASC Fine Wines w/ his father, a wine importer in China 2010 - sold ASC to Suntory, stayed with the company until 20142015 - got connected with Vinfolio and bought 33% of business with a friendAdam Lapierre's backgroundMainly on the supply side (worked at a winery in the Finger Lakes, at an importer)Became an MW in 2013 and moved to the buying side, working for Lidl, a major retailer of wineJoined Vinfolio in 2018, became President in 2020Vinfolio's historyStarted by Steve Backman, a software entrepreneur, and wine collector, in 2004 - he wanted to create a cellar management tool and marketplace to store and sell wineBuilt VinCellar - cellar management tool, started at a similar time to Cellar Tracker (Eric Levine), the difference is Steve wanted a more end-to-end solution for collectors vs. a more utility tool for Cellar TrackerBuilt VinFolio - marketplace and warehouse storage business2009 - Vinfolio went bankrupt in Global Financial Crisis, clients came in and took over the business Vinfolio is an end-to-end solution for wine collectors - buying, storing, and selling wine, focusing on the niche of fine wine coupled with technologySimilar business model to some UK businesses (e.g., Berry Bros & Rudd, Farr Vintners)Most people hear about Vinfolio through retail/e-commerce today, but that may shift as VinCellar is re-built and re-launchedVinfolio MarketplaceA fixed price auction modelUses proprietary tools that determine recommended market price for collectors to sell atStorage clients use VinCellar to put wines for sale, or others can use the full-service option w/ the cellar acquisition team (every bottle on the marketplace has been inspected with it being rare for wines to be sent back)Wine sourcingCollector Marketplace (⅓ of wine sales) - from individual collectorsProducer Marketplace (⅔ of wine sales) - from a global network of merchants (e.g., negociants), direct from producers, and US importers/distributors (~15-20% of sourcing)Try to clearly differentiate between the sourcing typesAdvantages of the Vinfolio marketplaceFor Buyers - the breadth of wine at their fingertips, more clarity around the asking price vs. other auctionsFor Sellers - realized prices often higher than live auctions (except for very rare wines)Wine StorageA vital part of the business is to create ready supply for the marketplaceIt makes VinCellar an essential part of the businessConvenience for clients to get deliveryA premium servicePricing ~$5/case/monthInventory is cataloged and received at the bottle levelClients can take delivery or sell wines at the bottle levelWine Investment ServiceIt started because Vinfolio got unsolicited inquiries around wine as an asset class for investmentRetail marketplace helps Vinfolio understand where market demand isInvestment customers are mainly new customers vs. traditional clients that are more passionate wine collectorsVinfolio investment processMin investment size = $25,000 - in order to have a diversified portfolioPurchase in original wood cases (OWC) mostlyUnderstand client's interestsFocus mainly on blue-chip / investment grade wines, the foundation of every portfolio is Bordeaux"Stock picking" - look at buying opportunities and allocate portfolio across current and mature vintagesPut wines in storage - mainly in the UK under bond (as it's easier to sell)Key benefits of Vinfolio wine investmentBuying side - acquire below market (charge landed cost (which includes shipping from the UK) + 6% commission, which is usually 10-20% below US retailer pricing)Selling side - uses fixed auction model, 12% commission for the sale (lower than standard commission rates)Storage fees consistent with w/ Vinfolio storage feesInvestors get access to special wines, similar to private clientsVinfolio has an informal list of producers with high demand, leveraging experience of the day to day businessUses Vin-dex - Vinfolio proprietary pricing algorithm - provides a daily market price for winesHas 10 years of historical auction dataWine-Searcher pricing - takes in ~5,000 web calls/dayHistoric Vinfolio sale pricesAlso a member of Liv-exThe investment service launched a couple of months ago (as of Oct 2021) - ~$0.75M assets under management vs. ~$250M total under in Vinfolio storageInvestment differentiatorsTransparency of process, particularly rationale for wine selectionsInvestment strategy - diversification with multiple cases of wineExperience in the fine wine marketBig initiatives for VinfolioVinCellar overhaul - orienting data around investment as wellE-commerce platform re-launch - transitioning to a new platform with more refined, personalized user experiencesHiring more quality people to service clientsCarrying more inventory to have more wine available

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Oct 29, 2021 17:09


Today on The Fast Lane with Ed Lane - Ed and Trey Lyle give their #VotesofConfidence - Dave Walls previews HS FB as we near the postseason - James Bates previews the #Hokies vs #YellowJackets

XChateau - Navigating the Business of Wine
Balancing the Head and Heart of Wine Investing w/ Tom Gearing, Cult Wines

XChateau - Navigating the Business of Wine

Play Episode Listen Later Oct 27, 2021 59:18


As the wine investment business leader with $275M of assets under management, Cult Wines has been a pioneer in the space for over a decade.  Born out of a passion for wine, Tom Gearing, CEO and founder of Cult Wines, tries to balance the head and heart elements of investing in wine with actively managed portfolios by CFAs and experiences with some of the top wineries of the world.  Tom shares all the details and great examples of why people should consider investing in wine, the Cult Wine investment process, and where Cult Wines is heading.  Detailed Show Notes: Tom's backgroundfounded Cult Wines w/ his brother in universityFather was an investment banker with a passion for wine, especially BurgundyTraveled a lot to Burgundy as a childStarted an import company - Burgundy CellarThe early 2000s - started Financial Wines - an online price transparency tool, but ran out of funding after the dot com crash2007-2008 - during Financial Crisis - people looking for alternative investments - Tom realized wine was a safe haven and should be more investableBased in the UKWhere the Wine trading is very well establishedThe UK has tax free status for wine trading for anyone in the world - can keep wine in a tax free warehouse where you don't pay taxes (sales tax, VAT) upfrontAsian collectors used London to build collections before shipping itBrexit impact - mostly operational (shipping is a lot slower) vs. tax,Why invest in wine?Those with a passion for wine - Build a fine wine collection, can drink it, or sell it in the futureThose not passionate about wine - wine prices are more consistent and tend to go up in value because the supply goes down over time (people drink it), tends to be insensitive to financial market fluctuations (went up in value in 2009) - suitable for diversificationVs. art/cars/other alternative investments, wine is more attractive:Accessibility - lower barriers to entry - hundreds or thousands of dollars for wine vs. millions for fine art/carsLiquidity - better than other alternative assetsPrice transparency - more trading publicly and more visibility (though, still not as good as it could be)Wine investment serves as a storage/aging function for the fine wine market with pristine provenance and authenticityCult Wines OverviewNot a retailer - acquires wines on behalf of clientsThree warehouses - London, Paris, BordeauxEU changed storage laws in 2016 to hold wines without paying VAT (similar to the UK)Have own warehouse and staff to ensure provenance and authenticity of wines (e.g., caught heat damage on a shipment of Scarecrow wine and made a claim with freight forwarder immediately)Has own photography studio and processes 250 cases/day, and photos are immediately uploaded for inspectionInvestment processHas a managed portfolio service (min $10k investment)Gather client objectives - risk profile, investment duration (3-5 years, 5-10 years, 10+ years), how wine fits into their entire portfolioBuild a personalized, customized portfolioStore wine in physical warehouses (clients own bottles or cases, the physical asset b/c it's hard to have liquidity for funds where people have fractional ownership of a fund)Get access to investment platformTop-down investment process - actively managed portfoliosCult Wines has a Chief Investment Officer (CIO), and all portfolio managers are Chartered Financial Analysts (CFA)Constantly reviewing the market and making asset allocation decisionsE.g., Trump Tariffs on European wine - team thought Bordeaux would go down in price, proposed reducing allocations from 40% -> 30% and re-allocate to Italy, which looked undervalued already and had no tariffs; in 6 months, AUM of Bordeaux went from 40%->36% and Italy 6%->13% and Bordeaux prices went down 2-3% and Italy up 12%Assets Under Management (AUM) - $275MUK/Europe is the biggestAsia nextAmericas (smallest, but newest)FeesAnnual management fee - starts at 2.95%/year (with $10k investment), 2.75% (with $35k investment), 2.5% ($150k investment), 2.25% ($500k investment)Benefits - portfolio allocation, customization of the portfolio, investment platform access, customer support, storage & insurance, trading on the platform (no feeds on trading to align Cult Wines interests with clients)Higher tiers get more experiential benefits - access to producers, client-only events, educational activities, vineyard visitsWine Buying35% direct from winery/new vintages65% secondary market - from existing investors, trusted suppliers/brokers, and trading platforms (e.g., Liv-Ex)Wine Selling / Delivery~20% of wines have been delivered to people, can ship to 45 states, clients pay delivery feesSome clients use Cult wines as a global cellar - e.g., a Japanese collector sent wines to the US when he was going to be there to visitWine sales channelsCult Wines buys for other clients - for wines they believe will appreciate moreTrade team - sells to other wine merchants, brokers, traders, importersRetail/Direct to Consumer - listed on Wine-Searcher and Cult Wines website for saleTeam - ~100 people totalInfrastructure based in UK (including ~24 tech and product folks)Regional offices - relationship managers, portfolio manager (all CFA level; Hong Kong, Singapore, 2 in London, New York)8 in North America (3 in Canada, 5 in New York)Company's Growth1st 5 years - establishing proof of concept2nd 5 years:2014 - acquired competitor, Premier Cru Fine Wine Investments, doubled AUM and business2016 - opened Hong Kong office2018 - opened Singapore office2014-2019 - $7 -> $50Mm in AUMNext 5-year phase (18 months in) - “reborn, evolution”Fine wine investment is limited by market inefficiencies: accessibility, liquidity, price transparencyFocused on projects that will improve inefficiencies and that will naturally make the wine investment space growTypes of wine for investmentOpportunistic trading - capturing inefficiencies in pricing - there may be opportunities to buy in one region and sell in another at a profitBenchmark wines - based on scores (with critics weighted differently by the impact), vintages, the value of an established baseline of wines (e.g., Bordeaux, Burgundy)Finding new opportunities - wines with high quality that have a good chance of increasing in value, e.g., Pierre Gonon St Joseph - was 30-40 euros 3-4 years ago, now $150/bottleAuction houses - don't work with them muchHard to get certainty of provenanceA lot more mature/older wines which have already gone up a lot in valueCosts are prohibitive (10-20% on a transaction)But the best place to get the highest/best prices (e.g., 1945 DRC from the Drouhin cellar got ~$500k / bottle)Next for Cult WinesLaunching new platform for managed investment serviceBespoke, public blockchain for security, authenticity, and speed of secure transactionsContinue to build North American offices (opened Spring 2021) in Canada and New York

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Oct 22, 2021 19:17


Today on The Fast Lane with Ed Lane: - Ed and Trey Lyle talk about how #LibertyFlames appear to be the Odd Man Out in conference realignment - Plus they give their #VotesofConfidence - Dave Walls gets you ready for HS Football

Wine Road: The Wine, When, and Where of Northern Sonoma County.
Sarita Cheaves—Author, Vine Me Up, Swirl Suite Podcast, & Wine Influencer (the good kind!)

Wine Road: The Wine, When, and Where of Northern Sonoma County.

Play Episode Listen Later Oct 21, 2021 25:50


Wine Road Podcast Episode 136 Sponsored by Ron Rubin Winery   Episode 136 | Sarita Cheaves of Vine Me Up— Author, Podcaster, and Wine Influencer (the good kind!) Wine of the Day – 2018 Ron Rubin Chardonnay Wine Book of the Day – Vine Me Up Activity Book Podcast Sponsor – Ron Rubin Winery SHOW NOTES 0:54 Meet Sarita Cheaves--- Author of Vine Me Up activity book, Podcaster, and Instagram food & wine pairing maven. Started out working in a local winery, discovered he love of wine and then got her WSET certification. 6:45 Wine of the Day 2018 Ron Rubin Russian River Chardonnay  9:15 How Sarita came up with the idea for the Vine Me Up –An Activity Book Celebrating the Melanated Wine Enthusiast, filled with word puzzles and other games related to wine and black wine makers. 12:50 Sarita, an accomplished home chef, tells us what she would make and pair with Chardonnay. 14:20 Check out Sarita's food and wine Instagram at @VineMeUp 16:05 Book of the Day- Can you guess? It's Vine Me Up, once again. 18: 30 Todd O'Leary VP of Marketing and Communications for Sonoma Tourism joins us to tell us all about -- The Sonoma Sound! A soundtrack for Sonoma County made locally recorded at White Whale studio, and written, produced and performed all by local Sonoma musicians. Check out the link to see the video and hear the recording. 22:50 One More Thing –Wine and Food Affair will be held November 5,6, 7 last day for ticket sales on Tuesday October 26th. NOTE: Wine & Food Affair is now SOLD OUT! 23:50 New! The Varietal of the Month Reviews will now be coming direct to your inbox as we revive the program with Marcy writing tasting notes of 5-8 wines from our Wine Road members. October Varietal of the Month is Viognier. Sign up to get the Varietal of the Month newsletter at www.wineroad.com Links Vine Me Up Website - https://www.vinemeupdc.com Vine Me Up Instagram @vinemeup Swirl Suite Podcast Vine Me Up Activity Book Wine of The Day – 2018 Ron Rubin Chardonnay, Russian River Valley Sonoma Sound Podcast Sponsor: Ron Rubin Winery Wine Road Wine Road Podcast Instagram -- @wineroadpodcast Credits:The Wine Road podcast is mixed and mastered at Threshold Studios Sebastopol, CA. http://thresholdstudios.info/

Italian Wine Podcast
Ep. 682 Tanya Morningstar Darling & Donatella Cinelli Colombini | Clubhouse Ambassador's Corner

Italian Wine Podcast

Play Episode Listen Later Oct 21, 2021 53:48


Episode 682 Stevie Kim moderates Clubhouse's Ambassadors Corner. In this episode Tanya Morningstar Darling interviews Donatella Cinelli Colombini- These sessions are recorded from Clubhouse and replayed here on the Italian Wine Podcast! Listen in on this series as Italian Wine Ambassadors all over the world chat with Stevie and their chosen wine producer. Which producer would you interview if you had your pick? Before telling you more about our great episode we want to give a shout out to our new Sponsor Vivino! the world's largest online wine marketplace - The Vivino app makes it easy to choose wine. Enjoy expert team support, door to door delivery and honest wine reviews to help you choose the perfect wine for every occassion. Vivino - Download the app on Apple or Android and discover an easier way to choose wine! Find out more about by visiting: https://www.vivino.com/IT/en/ or download the app: https://www.vivino.com/app About today's guest host: Tanya Morning Star Darling is a full time wine educator, and writer with nearly 3 decades of industry experience. Her school, Cellar Muse is the approved program provider for Wine Scholar Certifications (French, Italian, and Spanish) in the Seattle area. She is also a Certified Wine Educator, an approved WSET instructor for L1-L4 curriculums, an official Ambassador of Bourgogne Wines, the Official Educational Ambassador of Orvieto Wines, the Educational Chair on the board of the Alliance of Women in Washington Wine, and she is very proud to have recently become a VIA Italian Wine Ambassador! https://www.cellarmuse.com/tanya-morning-star-darling About today's guest producer: Born in 1953 to a family of producers of Brunello di Montalcino, Donatella graduated in History of Medieval Art. In 1993 she founded the “Movimento del turismo del vino” and invented “Cantine aperte”, the day that in a few years brought success to wine tourism in Italy. Currently she teaches wine tourism in the Master graduate programmes of three universities. After 14 years of professional experience in the family business in 1998 she founded her own estate that comprises Fattoria del Colle in Trequanda and Casato Prime Donne in Montalcino. In 2003 she won the Oscar for the best Italian producer awarded by AIS BIbenda and published the “Manuale del turismo del vino” followed in 2007 by “Marketing del turismo del vino”. From 2001 to 2011 she was the Tourism Councillor at the Siena Town Hall. Among her achievements is “Trekking urbano” a new kind of tourism sport, which was exported from Siena to the rest of Italy. IN 2012 she received the International Vinitaly Prize and the following year she was elected National Vice President of “Donne del Vino” and President of the Consortium of Orcia wines. In 2014 she was nominated ‘Cavaliere della Repubbica Italiana”. In 2016 she was elected National president of the Donne del Vino Association. https://www.cinellicolombini.it/en/ More about the moderator Stevie Kim: Stevie hosts Clubhouse sessions each week (visit Italian Wine Club & Wine Business on Clubhouse), these recorded sessions are then released on the podcast to immortalize them! She often also joins Professor Scienza in his shows to lend a hand keeping our Professor in check! You can also find her taking a hit for the team when she goes “On the Road”, all over the Italian countryside, visiting wineries and interviewing producers, enjoying their best food and wine – all in the name of bringing us great Pods! To find out more about Stevie Kim visit: Facebook: @steviekim222 Instagram: @steviekim222 Website: https://vinitalyinternational.com/wordpress/ Let's keep in touch! Follow us on our social media channels: Instagram @italianwinepodcast Facebook @ItalianWinePodcast Twitter @itawinepodast Tiktok @MammaJumboShrimp LinkedIn @ItalianWinePodcast If you feel like helping us, donate here www.italianwinepodcast.com/donate-to-show/ Until next time, Cin Cin!

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Oct 15, 2021 13:59


Today on The Fast Lane with Ed Lane: - Ed and Trey Lyle give their votes of confidence for the weekend - Dave Walls on Byron-Liberty University deal + High School FB slate - Paul Carcaterra on #Hokies vs #Pitt

Wine, Work, and Passion
WINE WORK & PASSION EPISODE 5 – Michael Cerio – Distinguished Vineyards

Wine, Work, and Passion

Play Episode Listen Later Oct 13, 2021 32:54


In this Episode, Karen Wetzel speaks with Michael Cerio, VP of Operations for Distinguished Vineyards & Wine Partners.  Michael will share his experience and knowledge of the wine industry from a “back of the house” perspective and talk about the many jobs that fall under this umbrella. Michael will close out the interview with actionable insights to follow this path to enter the wine world and what is it takes to land a job. owerpress] Book a career coaching session with Karen: https://go.oncehub.com/KarenWetzel SHOW NOTES: Karen Wetzel: Today, I'll talk to Michael Cerio, vice president of operations for distinguished vineyards and wine partners. Michael will share his experience and knowledge of the wine industry from a back-of-the-house perspective and talk about the many wine jobs that fall under this umbrella. Be sure to stay tuned until the end when Michael we'll close out the interview with actionable. Karen Wetzel: To follow this path to enter the world of wine and what it takes to land the job. And now, let's get to our interview. Karen Wetzel: welcome, Michael. Thanks for joining me today. Could you please tell our audience who you are and what exactly do you do in the wine industry? I'd Michael Cerio: be happy to thank you, Karen. And thanks for having me on this morning. I really appreciate the opportunity. So my name is Michael. And I'm the vice president of operations for distinguished vineyards and wine partners. Michael Cerio: And I've been working for this company for about four months. Yeah. Karen Wetzel: One thing I wanted to ask you before we get into your stories so that people know who distinguished vineyards are. So you're a supplier. You have a catalog of wineries that the company represents. Could you give us a couple of names that people might know of? Karen Wetzel: Some of the brands you Michael Cerio: represent? Sure. I'd be happy to. We'd like to say that we represent a collection of. Wineries from prestigious wine regions around the world is the tagline. So some of the wineries that the names that may be familiar to your listeners would be Markham and Saint Alena across the, and Sonoma. Michael Cerio: We also own the Argyle winery up in Oregon. And then some of the other brands that we represent are dough wines, as well as Texas. From New Karen Wetzel: Zealand. Oh, that's great. Well, I was just at Markham. I did a little visit there with some friends the other day, and it was wonderful. And actually, at Danette valley wine academy, we use the textbook Cabernet as one of the wines in the wine kits we send out for our WSET courses. Karen Wetzel: So I'm very familiar with some of your brands, so that. Let's start off at the beginning. Really? How did you get into the wine industry? What's your story of your wine journey, I guess, of your white career? Michael Cerio: So I did not intend to get into the wine industry. When I first got out of college back in the nineties, I really didn't have any clear idea about what it was. Michael Cerio: I wanted to do the economy wasn't that great at the time. And so I jumped into some restaurant work, doing a little bit of substitute teaching, even considered law school at that time. And it fell into completely by accident—the commercial baking. Karen Wetzel: From lawyer to baker, Michael Cerio: I've got a diverse set of interests, I guess you could say. Michael Cerio: So. Yeah. I just fell into this role working for a company that was at the time baking the bonds for McDonald's on the east coast. So I got really interested in the sales and service side of the business. Initially, that was where my role was focused. But as I got deeper into it, I got really curious about how do you make bread and rolls? Michael Cerio: And what's the science behind that. And so I find myself. The American Institute of Baking and the company agreed to pay my way in terms of expenses to go to Manhattan, Kansas,

Interpreting Wine Podcast | Travel | Enotourism | Tasting
Ep 449: Lauren Denyer, WSET Educator, D4 and D5 series, 2/2

Interpreting Wine Podcast | Travel | Enotourism | Tasting

Play Episode Listen Later Oct 12, 2021 46:57


I'm Lawrence Francis, Host of Interpreting Wine, the place to learn from thought leaders in the world of wine and marketing, welcoming you to the D4 and D5 series. Across these 2 episodes I'll be exploring D4 and D5 in the company of Lauren Denyer of the WSET. Broadly covering Exam format, Past wines, Examiners comments, Theory questions with command verbs, examples of methods of production, style and quality. We also covered some specific questions sent in by followers on Instagram. If you only listen to one podcast series before your exams make it the D4 and D5 series. Intro Exam Format Past Wines Examiner's Comments Question structure Methods of Production If you know someone who would find this episode useful please share the direct link: www.interpretingwine.com/449 If you really found it useful please leave the episode an iTunes review on the same link. Thanks!

Interpreting Wine Podcast | Travel | Enotourism | Tasting
Ep 448: Lauren Denyer, WSET Educator, D4 and D5 series, 1/2

Interpreting Wine Podcast | Travel | Enotourism | Tasting

Play Episode Listen Later Oct 11, 2021 48:34


I'm Lawrence Francis, Host of Interpreting Wine the place to learn from thought leaders in the world of wine and marketing, welcoming you to the D4 and D5 series. Across these 2 episodes I'll be exploring D4 and D5 in the company of Lauren Denyer of the WSET. Broadly covering Exam format, Past wines, Examiners comments, Theory questions with command verbs, examples of methods of production, style and quality. We also covered some specific questions sent in by followers on Instagram. If you only listen to one podcast series before your exams make it the D4 and D5 series. Intro Update Exam Format Past Wines Examiner's comments Methods of production Instagram Question: Champagne Yields If you know someone who would find this episode useful please share the direct link: www.interpretingwine.com/448 If you really found it useful please leave the episode an iTunes review on the same link. Thanks!

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET On MT - LU, UVA - UL, ND - VT And HS FB

The Fast Lane with Ed Lane

Play Episode Listen Later Oct 8, 2021 16:46


Today on The Fast Lane: - Ed and Trey Lyle give their #VotesofConfidence Today on The Fast Lane: - Ed and Trey Lyle give their #VotesofConfidence - Dave Walls previews some HSFB and #Flames vs #BlueRaiders - Mike Golic gets you ready for #Irish vs #Hokies and Week 5 in #NFL - Dave Walls previews some HSFB and #Flames vs #BlueRaiders - Mike Golic gets you ready for #Irish vs #Hokies and Week 5 in #NFL

Italian Wine Podcast
Ep. 672 Alberto Interiano Interviews Christoph Künzli | Ambassadors Corner On Clubhouse

Italian Wine Podcast

Play Episode Listen Later Oct 7, 2021 59:55


Episode 672 Stevie Kim moderates Clubhouse's Ambassadors Corner. In this episode Alberto Martinez Interiano interviews Christoph Künzli - These sessions are recorded from Clubhouse and replayed here on the Italian Wine Podcast! Listen in on this series as Italian Wine Ambassadors all over the world chat with Stevie and their chosen wine producer. Which producer would you interview if you had your pick? Before telling you more about our great episode we want to give a shout out to our new Sponsor Vivino! the world's largest online wine marketplace - The Vivino app makes it easy to choose wine. Enjoy expert team support, door to door delivery and honest wine reviews to help you choose the perfect wine for every occassion. Vivino - Download the app on Apple or Android and discover an easier way to choose wine! Find out more about by visiting: https://www.vivino.com/IT/en/ or download the app: https://www.vivino.com/app About today's guest host Alberto Martinez Interiano: Alberto is a wine educator and writer based in Seattle, WA. He currently works as an instructor at The Cellar Muse Wine School in Seattle and the Wine & Spirit Archive in Portland, Oregon, where he teaches WSET, and Italian and Spanish wine certification courses. He also writes for his blog www.vinointeriano.com and is a contributing blogger at the Vintner Project and other media publications. His passion for Italian wines started when he lived in Tuscany as a student, where he fell in love with Chianti, rustic Italian food, and all things Italian. He holds the WSET Diploma and recently became a VIA Ambassador (Verona Class of 2021) If you want to learn more about today's guest host, you can by visiting: www.vinointeriano.com About today's guest producer Christoph Künzli: Christoph Künzli is owner of Le Piane, the leading producer in Boca DOC in Alto Piemonte. Originally from Switzerland, Christoph worked as an importer of Italian wine & in one of his travels became acquainted with the region of «Boca» in 1988 as well as with Antonio Cerri, one of the last local winegrowers in the area. He fell in love with the uniqueness & beauty of the vineyards on the hillsides near Boca, so much so, that he decided to buy land & relocate there soon after. Since then, he's been making wines in the traditional style, maintaining old vines with local training methods, aging the wines in large Slavonian oak and working with native and traditional grape varieties. If you want to learn more about today's guest producer, you can by visiting: https://www.bocapiane.com/en/winery/ More about the moderator Stevie Kim: Stevie hosts Clubhouse sessions each week (visit Italian Wine Club & Wine Business on Clubhouse), these recorded sessions are then released on the podcast to immortalize them! She often also joins Professor Scienza in his shows to lend a hand keeping our Professor in check! You can also find her taking a hit for the team when she goes “On the Road”, all over the Italian countryside, visiting wineries and interviewing producers, enjoying their best food and wine – all in the name of bringing us great Pods! To find out more about Stevie Kim visit: Facebook: @steviekim222 Instagram: @steviekim222 Website: https://vinitalyinternational.com/wordpress/ Let's keep in touch! Follow us on our social media channels: Instagram @italianwinepodcast Facebook @ItalianWinePodcast Twitter @itawinepodast Tiktok @MammaJumboShrimp LinkedIn @ItalianWinePodcast If you feel like helping us, donate here www.italianwinepodcast.com/donate-to-show/ We also want to give a shout out to our sponsor Ferrowine. The largest alcoholic beverage shop in Italy since 1920! They have generously provided us with our brand new Italian Wine Podcast T-shirts, and we love them! Check out Ferrowine's site, they have great wines, food pairings and so much more! https://www.ferrowine.it/ Until next time, Cin Cin!

XChateau - Navigating the Business of Wine
Breaking Down the 3-Tier System w/ Tom Wark, National Association of Wine Retailers

XChateau - Navigating the Business of Wine

Play Episode Listen Later Oct 6, 2021 55:46


Instituted in a different time, post Prohibition, the 3-Tier system of alcohol distribution and sales in the US creates inefficiencies in matching inventory with demand.  Tom Wark, Executive Director of the National Association of Wine Retailers (“NAWR”), founder of Wark Communications, and writer of Fermentation -  the Daily Wine Blog educates us on the history, key issues, and challenges of navigating the 3-Tier system for wine consumers to get the wines they want.  The NAWR is on a mission to modernize the regulatory landscape for alcohol and bring choice to consumers. Listen in to Tom's decades of war stories on wine regulation! Detailed Show Notes: Tom's backgroundHe grew up in Northern California and got interested in wine at an early ageHe got a Masters in HistoryWorked in wine PR, then started his firm - Wark CommunicationsStarted Fermentation -  the Daily Wine Blog, in 2004 - wrote a lot about regulation, was pro-DTC (direct-to-consumer)Approached by the board of National Association of Wine Retailers (“NAWR”) to be Executive Director (2008)NAWRMembers all independent fine wine retailers (e.g., K&L, Zachy's, Grapes, the Wine Company)>100 members nationwideEstimate ~500 retailers actively doing e-commerce and interstate shipping~400,000 alcohol licenses nationallyWine Retail SpaceGrocery stores, convenience stores, drug stores, big-box retailers - mostly focus of NAWRMulti-state retailers (e.g., Total Wine, BevMo)DTC from wineriesKey issues for fine wine retailersPrimary - want to serve customers where they areAmazon could get into the wine space w/ Whole Foods alcohol licenses and ship to anyone locally -> The only way for independent retailers to compete is to do interstate shipping16 states currently allow interstate shippingWine.com has retail licenses in many states to ship to most statesSecondary issue - procurement of inventoryRetailers must buy from in-state wholesalers who have a limited selectionRetailers desire to purchase directly from importers or wineries no matter where they are to broaden their selectionNAWR mission - to modernize the regulatory landscape for alcoholMost regulations  were written in the 1930s-1950sAlcohol is more regulated than tobaccoE.g., if a brewery wants to sell direct to consumer, it needs to sell to a wholesaler and then repurchase it to sell to the consumerFranchise laws - binds producer to a wholesaler for life, even if the wholesaler is no longer supporting the brandAdvocate litigation for change - e.g., states that allow their own retailers to ship to other states but don't allow out-of-state retailers to ship in, believes that violates the dormant commerce clause of the ConstitutionLobbying, education of retailers, cultivation of allies (very few - consumers and media; most against - distributors, non-online retailers (believe it will create more competition), wineries (indifferent), importers (were not active supporters))The 3-Tier system in the US1930's - post-prohibition (1933) - each state had to regulate alcohol, and each did it a bit differentlyTwo main concerns - prevent tied house laws and organized crimeTied house - producers controlled retailers => got bars to do sketchy things and promote high alcohol consumption3-tiers - producer, wholesaler, retailerRetailers must buy from wholesalersStopping tied house - wineries can't own retailersHistorically - lots of wholesalers competing to represent producersToday - 10,000+ wineries, fewer wholesalers -> wholesalers act as gatekeepers, not required to bring producers in and shut out small producers who aren't worth the time and effort to represent themCA producers and importers can sell direct to retailers/restaurantsWholesalers are very powerful - contribute meaningfully ($10M+/year) to state political campaigns, 10x more than wineries and retailers combinedEach state has different 3-tier regulation, creates an enormous compliance burdenIL - wineries can sell directly to retailers only if they produce

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Oct 1, 2021 15:00


Today on The Fast Lane with Ed Lane: - Ed and Trey Lyle react to the #Hoos win and their #VotesofConfidence for the upcoming weekend. - Dave Walls get you ready for the Friday Night HSFB Slate - Chuck Culpepper on the upcoming Week 5 in #CFB

XChateau - Navigating the Business of Wine
Getting Inside Bordeaux w/ Jane Anson, janeanson.com

XChateau - Navigating the Business of Wine

Play Episode Listen Later Sep 29, 2021 57:29


Accidentally filling the big shoes of Michael Broadbent and Steven Spurrier, Jane Anson, wine critic, author of Inside Bordeaux, founder of janeanson.com, and former Bordeaux correspondent for Decanter for nearly 20 years, is one of the world's foremost experts on the wines, history, and region of Bordeaux.  Having lived in Bordeaux since 2003, Jane shares her deep insights into how Bordeaux became as famous as it is, how the systems of La Place de Bordeaux and En Primeur work, and the complex terroir of the region.  She gives us insight into the content of janeanson.com and how it will be a unique look into Bordeaux, focus on the drinkability of the wines, and many of the unique features to be released. Detailed Show Notes: Jane's backgroundLiving in Bordeaux since 2003, she thought she'd only be there for 1-2 yearsJournalist backgroundDecanter's Bordeaux correspondent for nearly 20 years, wrote a weekly column since 2014, the sole Bordeaux wine critic since the 2016 vintageShe took a tasting aptitude class at the enology school in BordeauxShe chose Bordeaux because it's still a big city (lived in London before), 2 hours from the Spanish border, 2 hours from ParisJaneanson.comCan be accessed by inside-bordeaux.com or janeanson.comSaw a gap in the market for a website specializing in Bordeaux vs. ~4-5 for BurgundyValue propositionNo outside investment, no advertisingFocus on drinkabilityCovers all wines that sell through La Place de Bordeaux (including the ~90 wines that are not Bordeaux wines)Regular verticals, en primeur, in bottle reportsTwo weeks of trips during the yearOne week - for high-end collectorsOne week - “free” aimed at young sommeliers, people that want to work in the wine trade to showcase the dynamic side of BordeauxLaunch specialsa translation of memoirs of a WWII soldier in BordeauxVertical of tiny producer LaFleur Saint-Jean - lies in between Lafleur, Lafleur Petrus, and Petrus in Pomerol only sells direct, sells out immediately, had never done a vertical before1% for the Planet - 1% of revenue goes towards environmental charitiesBordeaux's rise and fallKey advantagesA port city, far enough inland to be a safe port12th century - duchy of the English crown, wines were sold in the London marketThe system of chateaux, merchants, negociants was built for exportTerroir is very complex (which may be why it's not talked about much), e.g., of the 61 wines in the 1855 Medoc classification, all of them are on two specific gravel terraces (#3 & 4) of the six terraces of the MedocMostly clay underneath with gravel on topLots of micro terroirsSt Emilion - has pure limestone, clay, and gravelIssues that have hurt BordeauxEvery vintage is not great, though Bordelais often say thatFrustrate people based on the prices they ask (e.g., 2009/2010 vintages - many people who bought lost money)La Place de BordeauxBusiness to business, sell to merchants that sell to consumersVirtual marketplace - enables access to 10,000 clients globallyIncludes chateaux, brokers, and negociantsSells wine into every level of the food chain - has specialists for on-trade, off-trade, hotels, corner shops, supermarkets, etc.…It doesn't build your brand but makes sure it gets everywhereGood at giving the illusion of scarcityCan use La Place for specific markets - La Place has expertise in the Asian markets (e.g., China, Vietnam, Japan)Very rare to have exclusivity for negociantsDownsides of La PlaceCreates a very competitive environment - low-end wines compete with each otherProtects Bordeaux well; merchants need to buy in bad years to get allocations in good yearsNo direct contact with consumers for wineriesLess effective for small guys that aren't established brandsNon-Bordeaux wines selling on La PlaceGone from nothing to 60 wines five years ago to 90 wines in 2021Provides access to global markets - shows wines next to the great wines of BordeauxOpus One - the 2nd non-Bordeaux wine on La Place (after Almaviva), sold wines since 2004, opened an office in BordeauxForced negociants to share client lists (created more transparency)1st Champagne just joined - Clos des Goisses (Philipponnat) - only 600 bottles of 1996 late releaseNo Burgundy producers (not enough volume, no need for it, and the rivalry between Burgundy and Bordeaux)Barriers to joining La Place - need enough volume to get everywhere, need to do your own brand-building work, and meeting customersAn increase in overseas wines has hurt smaller Bordeaux estates -> negociants have limited budgets and drop themMarketing Bordeaux - unlikely to be another 1855 like classification, St Emilion's classification every ten years is constantly litigated, some marketing organizations: Pomerol Seduction - 8-10 Pomerol estates that band togetherBordeaux Oxygen - young producers, targeting younger audiences, no longer activeEn PrimeurDue to export focus, Bordeaux always had samples shipped off overseasFrom the early 1980s, Parker injected excitement into En Primeur systemPeople used to make money, and now they are often better off waiting until wines are in bottle with certain exceptions (e.g., tiny production Pomerols)No longer has the same sense of urgencyTranche system - release a small amount of wine at one price, then release more later at higher pricesE.g., 2010 1st growths came out at €600/bottle (these people made money), final tranche at €1,200/bottle (these people lost money) -> destroyed interest in en primeur in the Chinese marketnon-Bordeaux wines price more consistently than Bordeaux winesLatour dropping out of en primeurSaid they wanted to store wines and release them when best for consumersStill sold to negociants / La PlaceDon't1980's know if this has worked better or notChateau Palmer - sells 50% en primeur, 50% ten years later

Italian Wine Podcast
Ep. 666 Océane Jun Li | Voices

Italian Wine Podcast

Play Episode Listen Later Sep 29, 2021 13:15


Episode 666 Rebecca Lawrence interviews Océane Jun Li in this episode of Voices on the Italian Wine Podcast. About today's guest: Océane has been living in France since 2001. She received her bachelors degree in 2005 in Paris in Science of Hotels and Hospitality management. In 2006, she did her MBA degree in Paris in Management of International Trade. After working for 5 years as an international wine buyer and project manager for French companies Océane created a company called “Rosebayla International” in 2016. This is an import and export company in France, its main activity is the export of wine and Spirits to the Chinese market as well as to share wine culture and knowledge. She received the WSET L3 in 2019, level 4 is ongoing. She is also launching a WSET school in China, standby for the moment due to Coronavirus. She became certified as an International Wine educator in 2019 She has also been certified as a “France official Guide conferencier / Conferral Guide “ since 2019 If you want to learn more about today's guest, you can by visiting: Website: www.rosebayla.com Instagram: rosebayla_intl (juste created when I'm back from verrona) Facebook: https://www.facebook.com/Rosebayla-International-102064241286757 (just created this year) Twitter: https://twitter.com/Rosebayla1 Linkedin: https://www.linkedin.com/in/océane-li-6606207/?locale=fr_FR More about the host Rebecca Lawrence: Future voice of the BBC and English Language voice of Professor Attilio Scienza, Rebecca Lawrence has stepped in to host special this series on the Italian Wine Podcast. An esteemed wine educator, writer, and all-around polymath Rebecca is adding a fresh voice to the Italian Wine Podcast lineup. Her show Voices focuses on diversity and allyship in the wine sector, often interviewing guests that are doing their part to enact positive changes within the wine industry all over the world. To find out more about Rebecca visit: https://www.rosmarinoevino.com/ Let's keep in touch! Follow us on our social media channels: Instagram @italianwinepodcast Facebook @ItalianWinePodcast Twitter @itawinepodast Tiktok @MammaJumboShrimp LinkedIn @ItalianWinePodcast If you feel like helping us, donate here www.italianwinepodcast.com/donate-to-show/ We also want to give a shout out to our sponsor Ferrowine. The largest alcoholic beverage shop in Italy since 1920! They have generously provided us with our brand new Italian Wine Podcast T-shirts, and we love them! Check out Ferrowine's site, they have great wines, food pairings and so much more! https://www.ferrowine.it/ Until next time, Cin Cin!

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Sep 24, 2021 10:53


Today on The Fast Lane with Ed Lane: - Ed and Trey Lylegive their #VotesOfConfidence for the weekends - Dave Walls on #Flames vs #Cuse and HSFB - David Glenn Show previews #ACC action this weekend. #Hoos #Hokies

XChateau - Navigating the Business of Wine
Library Release: Digging into Wine Scores

XChateau - Navigating the Business of Wine

Play Episode Listen Later Sep 22, 2021 20:32


Library Release: Originally aired as Episode 5 in June of 2020.  In one of our original episodes, Robert and Peter discuss how competitive the wine market is, how wine scores used to differentiate wines from each other, but do that less today, and the use of wine scores has evolved over time.  This episode provides another data point for the conversation around the evolution of the wine critic, as discussed in episodes 61 - 64.  Detailed Show Notes: Wine scores were the traditional method of differentiating a wine brandThe wine landscape is getting more competitive and crowded, # of wine brands (as of 2019): >1,000 in Napa valley~4,000 in California~10,000 in the US~300,000 globallyIn Luxury Wine Marketing, Peter did an analysis of 100 point scores in Robert Parker's The Wine Advocate: 1995 - 14 100 pointers2005 - 332015 - 116In 20 years, there were 8x more 100 point scores, making them less remarkable than in the pastHowever, the same percentage of wines (0.4%) got 100 points in 2015 as in 1995, as 8x more wines were reviewed by The Wine AdvocateHow wineries use critic scoresIn the past - wineries leveraged the followers of wine critics, gaining new customers20+ years ago, thousands of buyers would flock to wineries with a 100 point score; today, that number is in the hundredsToday - wineries use scores to promote and market their wines - they are used as a validation of quality, not necessarily dependant on a specific wine criticSpinouts of wine criticsMany critics have gone independent - Jeb Dunnuck (guest of Episode 64), Antonio Galloni (Vinous), James Suckling, Jeannie Cho Lee, Jancis Robinson - making the field more crowded than everIt has become harder to follow a single critic than in the pastWineries need to build their brandsE.g., Philippe Guigal once said, “we don't do marketing” - and is able to do that because Guigal has already built their brand in the trade with over 20 Robert Parker 100 point scores -> this type of marketing may not be as effective todayBrands need to have wine quality as a baseline and more than scores to sell effectivelyCritics leveraging scores to promote themselves - some critics may give higher scores to be the top score that is used to promote the wine by retailers and wineries, increasing consumers awareness of their own brand and media channelCrowdsourced scores (e.g., CellarTracker, Delectable, Vivino)Scores are a snapshot in time and will change over timeIt gives the ability to follow individuals and learn their palateNot yet influencing the wine trade (as of early 2020)It helps bring another touchpoint of brand awareness to wineriesWine Berserkers - has had an impact on wine sales, at least a few dozen signups for mailing lists of wineries Peter has worked atLessons for wine brands: Need to build the brand, having high wine quality and high scores are the baselineFigure out the marketing channels that work for your brand and double down on themThe cost of customer acquisition is going up with the fracturing of wine criticism and the rise of crowdsourced wine scores

Italian Wine Podcast
Ep. 661 Tanya Morning Star Darling | Voices

Italian Wine Podcast

Play Episode Listen Later Sep 22, 2021 37:49


Episode 661 Rebecca Lawrence interviews Tanya Morning Star Darling in this episode of Voices on the Italian Wine Podcast. About today's guest Tanya Morning Star Darling: Tanya Morning Star Darling is a full time wine educator, and writer with nearly 3 decades of industry experience. Her school, Cellar Muse is the approved program provider for Wine Scholar Certifications (French, Italian, and Spanish) in the Seattle area. She is also a Certified Wine Educator, an approved WSET instructor for L1-L4 curriculums, an official Ambassador of Bourgogne Wines, the Official Educational Ambassador of Orvieto Wines, the Educational Chair on the board of the Alliance of Women in Washington Wine, and she is very proud to have recently become a VIA Italian Wine Ambassador! Tanya is deeply interested in the why and how of wine. Through her undergraduate studies at the Sorbonne and New York University, coupled with her love of travel, Tanya became interested in history and cultural identity, which guides her work, and research. Tanya recently published an online Wine History Foundations course through Napa Valley Wine Academy, with more online courses in the works. If you want to learn more about today's guest, you can by visiting: Tanya Morning Star Darling CWE, FWS, IWS, SWS Cellar Muse Wine School www.cellarmuse.com More about the host Rebecca Lawrence: Future voice of the BBC and English Language voice of Professor Attilio Scienza, Rebecca Lawrence has stepped in to host special this series on the Italian Wine Podcast. An esteemed wine educator, writer, and all-around polymath Rebecca is adding a fresh voice to the Italian Wine Podcast lineup. Her show Voices focuses on diversity and allyship in the wine sector, often interviewing guests that are doing their part to enact positive changes within the wine industry all over the world. To find out more about Rebecca visit: https://www.rosmarinoevino.com/ Let's keep in touch! Follow us on our social media channels: Instagram @italianwinepodcast Facebook @ItalianWinePodcast Twitter @itawinepodast Tiktok @MammaJumboShrimp LinkedIn @ItalianWinePodcast If you feel like helping us, donate here www.italianwinepodcast.com/donate-to-show/ We also want to give a shout out to our sponsor Ferrowine. The largest alcoholic beverage shop in Italy since 1920! They have generously provided us with our brand new Italian Wine Podcast T-shirts, and we love them! Check out Ferrowine's site, they have great wines, food pairings and so much more! https://www.ferrowine.it/ Until next time, Cin Cin!

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Sep 17, 2021 14:51


Today on The Fast Lane: - Ed and Trey Lyle give their #VotesofConfidence for the weekend - Dave Walls previews the HS FB slate - Anthony Becht shares some #WVU vs #Hokies memories

UK Wine Show
Ian Harris CEO on the WSET into the future

UK Wine Show

Play Episode Listen Later Sep 17, 2021


In this third interview with Ian Harris we find out about changes brewing at the WSET and upcoming initiatives.

Spoon Mob
#169 - Chefs & Guests - Sommelier Chris Dillman of F.L.X. Table

Spoon Mob

Play Episode Listen Later Sep 16, 2021 67:34


On this episode of Spoon Mob's Chefs & Guests podcast series, Ray talks with advance sommelier Chris Dillman about how he got his start in the world of wine, his original career path which led him to Ohio State University, all the places around Columbus he's worked over the years, The Refectory, his time at The Burgundy Room, the owners at Rosendales covering his exam fee, taking the introductory sommelier exam, competing in Top Somm, sitting for the Master Sommelier exam for the first time, his mindset during the master, the toughest part of the exams for him, starting the wine program at the Giant Eagle in Grandview, limited edition beer craziness, taking the level 3 WSET exam, giving wine sales a shot, sitting for the master exam for the last time, why he chose to leave The Court behind, why he decided to move away from Columbus, how he curates a wine list, how covid has changed the wine industry, natural wine, champagne, where the food scene in Columbus is headed, the current state of the restaurant industry as a whole, if he still plans on opening a wine shop one day, if the mustache will make a comeback, answers the question left behind from Comune co-owner Joe Galati, and more before telling two of the wildest stories you'll ever hear during the "burning grill" questions segment. For more on advanced sommelier Chris Dillman and F.L.X. Table, visit spoonmob.com/chrisdillman and follow him on Instagram @best_dressed_busser & @flxtable. Visit flxtable.com for menu details and reservations. For all things Spoon Mob, visit spoonmob.com and make sure to follow us on Instagram (@spoonmob), Twitter (@spoonmob1), and Facebook (@spoonmob1). Audio Editing by @TrackEditPrint. Intro music by @kabbalisticvillage. This episode is brought to you by Stello Mints. Visit www.stellomints.com and use the promo code "spoonmob" for a 20% off your first order!

Wine & Hip Hop
Episode 57: Fine Wine II Featuring Summer Altice

Wine & Hip Hop

Play Episode Listen Later Sep 3, 2021 53:05


This week we are joined by Sommelier, Playboy Playmate, DJ, and host of the Women, Wine and Weed podcast, Summer Altice! From achieving her Level 3 WSET certification with Merit, to running the wine Program at Delilah's in LA, Summer has paid her dues. We discussed planning wine dinners for Dwayne and Gabrielle Wade, life as a Playmate, and traveling the world as a DJ. This episode is full of great stories and life lessons. Grab a glass and reminisce with us!

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET

The Fast Lane with Ed Lane

Play Episode Listen Later Sep 3, 2021 9:50


Today on Fast Lane: - Ed and Trey Lyle give their #VotesofConfidence for Week 1 of #CFB Season - Dave Walls previews #Hokies vs #Heels and Week 2 in #HSFB - William & Mary Tribe Athletics Football HC Mike London talks how the #Tribe look before they take on the #Hoos

The Wine CEO Podcast
The Wine CEO Podcast Episode #39: So you want to be a Sommelier?

The Wine CEO Podcast

Play Episode Listen Later Sep 1, 2021 42:30


Have you ever wondered what it takes to become a sommelier? In today's episode I chat about the top 5 wine accreditation programs and why you should choose one program over another. Be sure to tune in to learn all about The Court of Master Sommeliers, WSET, Wine Scholar Guild, and more. By the end of the episode, you will know what it takes to become a sommelier and why so few people carry the titles of Master Sommelier and Master in Wine around the globe! -------------- thewineceo.com Email: Sarah@thewineceo.com --------------- Link to great analysis of Wine Accreditation programs by Wine Folly: HERE Wine Enthusiast Magazine Compares Accreditation Programs: HERE Top 5 Programs: The Court of Master Sommeliers WSET (Wine & Spirits Education Trust) Master in Wine Society of Wine Educators Wine Scholar Guild ------------------------- Don't forget that I offer a Wine 101 class where you can have 1 on 1 training with me. In this course, I teach the same fundamentals found in WSET Level 2 and the Master Court Level 1. My goal is to make the world of wine approachable and accessible to every consumer, so I offer this course at a fraction of what these other organizations charge you. Email me today to learn more about my Wine 101 class as well as my consultation services to help you study for a wine accreditation! Sarah@thewineceo.com 

BevCast
Episode 27 : How to grow your bulk and private label business in National Chain - Kryss Speegle MW

BevCast

Play Episode Listen Later Aug 31, 2021 22:37


To the point conversation on how to grow your bulk wine, spirits and Private label business with Kryss Speegle MW. Kryss Speegle MW has held sales, production and educational roles in the wine industry for nearly 20 years. She has an M.S. in Food Science/Enology from U.C. Davis and her practical training included harvests in Germany and New Zealand as well as California. After working extensively in the Sonoma Valley, in 2011 Kryss joined O'Neill Vintners & Distillers, a leading supplier of California bulk wine and spirits, where she has worked in winemaking, sales and business development. She also teaches at the Napa Valley Wine Academy, where her classes include the WSET curriculum and custom-designed programs for private clients. ***About the Organisers: Beverage Trade Network*** Beverage Trade Network is one of the world's leading networks for beverage, wine, spirits and beer importers, distributors, producers and related companies. Our database and directory listing of the world's leading beer, wine, spirit and non-alcoholic drink producers provides our importers and distributors an advantage to source and innovate their portfolios. Know more about BTN: https://www.beveragetradenetwork.com/ For More Insightful Content Subscribe to Our Channel

The Fast Lane with Ed Lane
Dave Walls, ABC 13 WSET With HS FB Preview

The Fast Lane with Ed Lane

Play Episode Listen Later Aug 27, 2021 14:17


Today on The Fast Lane with Ed Lane: - Ed and Trey Lyle give their #VotesofConfidence for #NFL, #CFB, and #NASCAR - Dave Walls gets you ready for the HS FB Kickoff - Mike Niziolek on how the #Hokies have looked in Fall Camp

Bartender at Large
Pitfalls of Consulting w Christina Veira | ep. 261

Bartender at Large

Play Episode Listen Later Aug 23, 2021 31:45


This week we are joined by Christina Veira, GM & Managing Partner of Toronto's Bar Mordecai and instructor for WSET, to learn about what it is like to juggle the roles of consultant and bar owner during the pandemic.  _______________________________ Join us every Monday as acclaimed bartender, Erick Castro, interviews some of the bar industry's top talents from around the world, including bartenders, distillers & authors. If you love cocktails & spirits then this award-winning podcast is just for you.  SUPPORT US ON PATREON: Get early access to episodes, exclusive bonus episodes, special content and more: https://www.patreon.com/BartenderAtLarge   FOLLOW US ON INSTAGRAM: Erick Castro: www.instagram.com/HungryBartender Bartender at Large: www.instagram.com/BartenderAtLarge  FOLLOW US ON TWITTER:   Erick Castro: www.twitter.com/HungryBartender Bartender at Large: www.twitter.com/BartendAtLarge BUY OUR MERCH: https://moverandshakerco.com/collections/bartenderatlarge

The Fast Lane with Ed Lane
Dave Walls, WSET Sports Reporter

The Fast Lane with Ed Lane

Play Episode Listen Later Aug 20, 2021 12:23


Today on the Fast Lane: - Ed and Trey Lyle give their thoughts on the ACC, PAC-12, and BIG-10 alliance. - Dave Walls gives us a high school football preseason update - Ed and Trey also give their picks for NASCAR at Michigan International Speedway

Everyday Wellness
Ep. 162 Learn More About Blood Sugar And Intermittent Fasting: A Look at the Science of Dieting With Melanie Avalon

Everyday Wellness

Play Episode Listen Later Aug 7, 2021 39:44


Today, the amazing, smart, and talented Melanie Avalon joins me once again! Melanie is a SAG-AFTRA actress, author of What When Wine: Lose Weight and Feel Great with Paleo-Style Meals, Intermittent Fasting, and Wine, host of the top iTunes podcasts The Melanie Avalon Biohacking Podcast, and The Intermittent Fasting Podcast with Gin Stephens, and she has appeared on this podcast twice before. Melanie is certified as a wine specialist by the WSET and as a holistic nutritionist by the AFPA. She is also a member of MENSA. Melanie developed the top iTunes app, “Food Sense Guide", to help those with food sensitivities, and she currently runs three rapidly growing Facebook groups. A few months ago, Melanie and I had a long conversation and decided to do two episodes at the same time. The first was Episode 143, which aired in April. In that episode, we focused on biohacking, for which Melanie is well-known. For today's episode, we pivot and focus on blood sugar dysregulation. Melanie and I will bring you up to speed with everything you need to know about managing your blood sugar, tapping into the intrinsic hormonal regulation in your body, and ensuring that your blood sugar is well supported. Stay tuned for more!  IN THIS EPISODE YOU WILL LEARN: How Melanie first became interested in the science of dieting. Melanie talks about metabolic flexibility, the amount of energy stored in our body fat, and the purpose of insulin. Why your bio-individuality needs to be taken into account when figuring out the best diet. What a continuous glucose monitor is, what it does, and the benefits of using it. Why Melanie decided to bring carbs back into her diet. Why Melanie feels that the definitions of low fat, high carb versus a high fat, low carb are so important. Dairy is a hormonal food designed for growth. Melanie talks about the Lumen, which is one of the easiest biohacking devices to use. Melanie discusses the Biosense ketone meter. Connect with Cynthia Thurlow Follow on Twitter, Instagram & LinkedIn Check out Cynthia's website  Connect with Melanie Avalon On Facebook or PaleoOMAD, or Clean Beauty and Safe Skin Care  On Twitter  On her website The Intermittent Fasting Podcast The Melanie Avalon Biohacking Podcast Books mentioned:  The Paleo Solution by Robb Wolf

The Fast Lane with Ed Lane
Feedback On CFV Expansion Greed And Olympic Viewership Drop

The Fast Lane with Ed Lane

Play Episode Listen Later Aug 6, 2021 6:55


Today on the Fast Lane pres Autos By Nelson: - Ed and Trey Lyle give their votes of confidence for the upcoming NASCAR weekend at the Glen. - Dave Walls (ABC 13 - WSET) gives his thoughts on the Flames, Hoos, and Hokies after they kicked off fall camp this week.

XChateau - Navigating the Business of Wine
Bringing Wine to Life w/ Jacki Strum, Wine Enthusiast Media

XChateau - Navigating the Business of Wine

Play Episode Listen Later Jul 28, 2021 46:49


Growing up around wine has not dimmed the passion Jacki Strum brings to her work as President of Wine Enthusiast Media.  In the first of a series on the evolution of the wine critic, Jacki tells us about how Wine Enthusiast has expanded its platform from print into web, social media, podcasts, and even Tik Tok.  As well as how they assess wines (blindly) as a wine critic and how those ratings are used to help people buy wine.  We really get under the hood of the wine media business in this episode of XChateau! Detailed Show Notes: Jacki's backgroundShe grew up in wine (her parents founded Wine Enthusiast in the late 1970s)Studied wine through WSET Level 3Digital media in wine & spirits backgroundFounded Thirsty Nest - a wine & spirits gift registry platform, media, and commerce hybrid that is part of Wine EnthusiastWine media in the late 1980sWine Enthusiast (“WE”) magazine founded in 1988, Robert Parker wrote for WE for a whileWine Spectator was around, but not much else“French Paradox” on 60 Minutes (1991) about the health benefits of wine was the catalyst for the entire wine industry in the US, which helped the magazine take off as wellWE media platformPrint publication - still successfulDid well during Covid as people were sick of screens and hard newsWebsite - growing exponentiallyHouses the entire database of wine reviewsBuying guide went “through the roof” during Covid due to an increase in online wine sales65% of visitors go to the website to buy wineSocial mediaInstagram - now the biggest platform, easy to shop, easy to commentFacebook - still important, but fading vs. InstagramTwitterTesting Tik Tok - believes will be the future of educational contentPodcast - done well and testing a few other seriesNewsletter / email - still coreBeverage Industry Enthusiast - trade/industry news grew a lot during CovidWE company motto - “We bring wine to life”It plays into the journalism approach - including the lifestyle elements of wineRatings help people buy wineCore demographic - “the curious wine consumer,” which is more of a mindset vs. an age or genderWine criticism and ratingsTaste completely blindTaste w/in 1 regionAdvertisers have no say on ratingsDo points still sell wine? 100 points or Wine of the Year can still build a brandMost ratings are a powerful tool in the marketing toolset, but just a piece of the puzzleCertain critic/magazine names still carry more weight than othersMore at the bottom of the marketing funnel - helps close the saleAt the top of the funnel - general brand awareness - WE builds partnerships with brands for marketing, including various content and social influencersWE Buying Guide (ratings)It comes up 1st on Google, which gives it more credibilityReview ~25,000 wines per yearPath to building a wine brand todayScores are still helpful and freeNeed to build out the marketing stack and figure out the storytelling - start with social mediaThe catalog did well during Covid - people needed wine storage, upgraded glassware, etc.…Return on ad spend with WEPartners wanted to get closer to the sale, have become more ROI drivenImplemented digital shopping carts to track purchasesKey metrics for ROAS (return on ad spend)Email acquisitionWine salesImpressionsPodcasts - can use discount codes to track the impactThe natural feeling of podcasts make an ad feel more realWebinars did well for email acquisitionAny campaigns that boosted DTC sales or signups did wellDigital advertising has grown a lot during CovidLots of influencer marketing - leverage 40 Under 40 contacts, usually people WE has written aboutOften custom build ad partnership plans with clientsWE Catalog provides the richest database in the industry to create good ad targeting

XChateau - Navigating the Business of Wine
Charting the Wine Media Landscape w/ Natalie MacLean, nataliemaclean.com

XChateau - Navigating the Business of Wine

Play Episode Listen Later Jul 21, 2021 44:16


Natalie MacLean, a podcaster and writer based in Ottawa, Canada, has been bringing people into her wine world for over 20 years. With two books, a newsletter with over 300,000 subscribers, a mobile app, and the Unreserved Wine Talk podcast, Natalie's main focus is on perfecting her food and wine pairing courses - The Wine Smart Course and an upcoming course on wine and cheese. Natalie tells us about how she built her personal brand, the most effective marketing channels she's used, and where her primary revenue drivers are. If you're interested in navigating how to be successful in the world of wine, Natalie's journey provides key insights.Detailed Show Notes: Natalie's backgroundHas an MBA, did consumer packaged goods (“CPG”) marketing at P&G and techShe took a sommelier course and fell in love with wine, as a full-bodied experienceStarted as a writer - cold-called editors, then wrote books, and now publishes a podcast - Unreserved Wine TalkShe didn't drink alcohol until she was in her late 20'sBrunello was the wine that got her into wineCurrent focus - online food and wine pairing coursesFocused on 2 courses only - believes in doubling down on the Unique Selling Proposition (“USP”), wants to perfect courses vs. add more#1 - The Wine Smart CourseLifetime access to materials5 modulesPre-recorded videos (on-demand, all “snackable” - 7-9 minutes in length, 70-75 videos)Live webinars via Zoom - bi-weekly tastings#2 - Beta: Wine & Cheese PairingAppeals to both consumers and hospitality and trade professionals b/c of the focus on food and wine pairingIt starts with food, then pairs the wineLeverages some research from Tim Hanni, MWFree wine and food pairing guideCore audience - vast, similar to the general populationNewsletter / website300k email subscribers - free to join, C$3/mo for access to wine reviewsHas pairing tips (more depth in courses), a lot of free videosIt started as an email to friends and familyUses LCBO pricingWine scoresPeople use them as a shorthand for quality, to calculate the quality to price ratio (“QPR”)People requested it, and now it's a service for readersPassion is writingMobile appFree to downloadScans front label and bar codesIntegrated liquor store pricing and inventory across the country (Canada) via API's to provincial liquor control boardsFeatures - virtual cellar, wishlist, buy listsUS wines in CanadaCA, WA, OR, NY well represented#1 export market for US winesDuring Covid - premium wines (C$20+) have done well, benefiting US winesCanadian wine palate - driven more towards cool climate wines, Canada's heritage is beer and whiskeyMarketing Natalie's brandBuilt over 20 years, started the website in 2000Started with the books (Red, White, and Drunk All Over; Unquenchable) - published by Randomhouse, book tour, Amazon's bestseller list - led to broad reach and TV and other media appearances and “exploded” newsletter subscribersPodcast a core channel nowPodcast listeners stay with you, and most listen 80-100% throughPodcast listeners and paid online courses have the strongest overlapLeverage and cross-purpose content to broaden the reach to many channelsPodcast videos for FB LiveSocial media - gets people over to newsletter or free wine and food pairing guide, low commitment, usually not payingNothing beats emailAlways strives to deliver value first - drive to something free (e.g., free class/webinar), then promotes paid coursesMain revenue drivers#1 - online courses#2 - wine review subscriptions#3 - online advertising