The wine industry is a lucrative niche and today’s technology makes it simple to sell some ambrosial liquid and make a little money doing it only if you are not under-aged. It is a multi-billion-dollar industry with millions of dollars being spent by consumers every year to purchase wine online. If you’re passionate about wine, setting up your own successful online wine store is simple.
All you have to do is follow a step by step process of starting the wine store business and ensure its smooth functioning.
Step:1 Researching About the Market
The first step is to do research, you must find out where can you buy wines at a wholesale rate, developing relationships with a wide variety of distributors will give you the opportunity to buy wine at a cheap rate and in bulk. This will enable you to sell your products to the customers at a profitable price.
Another important part of the research is to know about the kind of competition existing in the market. In order to differentiate your brand from the rest of the market, it becomes imperative to gain knowledge about your contenders and the brands they are selling. A customer’s perspective should be applied while having a look at the online wine stores that are doing well and make note of the things that attracts you as a customer.
You should also take a look at the stores that are under-performing as this will keep you informed about the don’ts in the business. This research will help you in starting a wine store online successfully.
#BonusTip: There are many ways to expand your reach. Try to giveaway for your existing customer base, such as free wine tours, Wine Bottles, wine tasting or tickets to your next wine tasting event. This way you can create a buzz in the Market.
Step:2 Knowing which Wines to Stock
The second step is to know which wines to stock. Stocking popular brands increases the likelihood of better sales. You have to decide which brands fit best in your overall marketing plan. This is one of the crucial steps in starting an online wine store.
#BonusTip: Try to make your Wine Launching Event a Successful Event. invite Wine Lovers.You can plan a tasting event you feel confident wine lovers will enjoy. Visitors come for the experience! and you will get your future Customers.
Step:3 Creating a Comparison Chart
The next step is to create a comparison chart that includes each shopping cart you are evaluating. If you are a newcomer in the market, you will want to find a shopping cart that gives you plenty of room to work with limited technical expertise.
Developing a business model constitutes the next step. It is important to determine whether to focus on rare and expensive bottles of wine or to sell wine at bargain close-out prices and what wine variety will be your specialties. You should offer discounted prices to customers to attract them.
#BonusTip: A Good and Creative name matters a lot in the Wine Business. You name may be your next Business name. Choose the right, small and related name with your wine Business. Register a Domain and start the process of trademarking to claim your Name on Products.
Step:4 A Clear-Cut Business Plan
There should be a clear-cut business plan whether to offer daily deals, weekly specials or quarterly clearance sales but plans can vary according to the exigencies of time. Discounts or sale should be given all throughout the year and especially during the festive seasons when the demands are high.
#BonusTip: Why am I going to start this wine Business? Who will be the Customers who buy? To Where i sell this Products? These are the Most Important things to know before starting a Wine Business. All such important question will be covered in Business Plan. So make a Good Plan
Step:5 Promoting the Online Wine Store
Next step is to promote your online wine store. Submitting your products to Wine-Searcher.com and to WineZap will help you to gain traffic right away and start selling online. Promotion through advertisements in social media can cater to a large number of customers, especially the young and middle-aged groups.
Business tricks like “Wine of the Day” deal is an effective promotional campaign, where a specific wine is offered at a discounted price with the purpose of growing customer base. A group deal where a specific number of customers need to order the wine to get it for a reduced price can help in making your business go viral.
Giving discounts and cash back at a minimum purchasing price can boost your sales. Giving the customers enough choice is an indispensable part of online business. The price should vary from low to high to suit the purchasing power of people belonging to different income groups.
#BonusTip: Social Media, Blogs, or COntent Marketing are easy ways to market any business. You can Choose Weddings event as your marketing space. Plenty of people are always interested in having their wedding at a winery. You can go there and serve your Products and get a review from them.
Step:6 Recognizing the Target Groups
You need to recognize the target groups as the types of drinkers in your country, drinkers may vary from casual wine drinkers to the experimenter, image-oriented and conservative wine drinkers. This will help you to know which wines to store.
#BonusTip: Marketing is a soul of the Every Business. Make Marketing Plan, and start marketing activities online and Offline Both. Start sharing your quality works through different Social Media. You can use Wine Niche sire for marketing also.
Step:7 Designing the Website
An experienced web designer should be hired to design the website to exact specifications. The website design should be nice and attractive. The product details should be mentioned clearly along with the company’s belief, vision etc. In addition to that, your site must also have a shopping cart with 128-bit security encryption, customers should feel secure in making online payments on the website.
#BonusTip: An Impressive website can help you to earn an impressive profit. FOr Food Website, you need Creative and attractive photography of your wine Products. Budget wise, Taste wise, Process wise details Choose the right Product and increase the sales.
Step:8 Taking Feedbacks from Customers
Feedback should also be taken from customers through online rating and there should be a section on the website that caters to the grievances of the customers relating to services, payments etc. Choosing the courier service provider is also a pertinent task for swift and smooth delivery.
#BonusTip: Social media is blooming. Everyone is on Social media. Not only is your blog page a perfect platform for this, but using your social media to educate customers and fans is a great idea as well. You can Share stories of your Products on it.
Step:9 Reviewing the Local as well as State Laws
Reviewing state and local laws that govern the selling and buying of wine becomes important as this may affect your business. The sale of wine will likely require you to obtain special business licenses and you may also be subject to certain tax laws. Contact both local and state officials to help you navigate through the confusing legal jargon. You will also have to pay taxes to The Alcohol and Tobacco Tax and Trade Bureau.
#BonusTip: Right Wine means Right Targeted Business. You need to Find the Right Space of your wine Business where you can fit yourself and get more Business from the Market. Different products for different Peoples.
You should familiarize yourself with states that prohibit shipping of alcohol through the mail as this may limit your business opportunities. A disclaimer is also required to bar those below 18 or 21 years of age from drinking and mention that alcohol consumption is injurious to health.
Hence to conclude one can say that setting up an online wine selling business is not an easy task, in that case setting up a business of any product requires patience, skills of supervising, investing and managing. It requires patience because developing the business gradually requires time and it is important not to get swayed away by the profits and losses. You need to understand the mood of the market and how the preferences of the customers are changing from time to time.
You need to stay ahead of your competitors all the time by attracting customers by selling quality products, catering to their needs taking care of their convenience. The competitors are not restricted to the online market and extend to those selling in retail shops. If you are willing and confident to start an online wine store it may well turn out be an excellent venture, but you need to follow the steps mentioned above in setting up the business and never lose hope, who knows one day you might own the largest selling online wine store in the country.