Looking into the future webinar
Even before the current pandemic, it was clear that technology is changing the way wine is made, marketed, sold and distributed. And, over the last five months, it has become ever clearer that those businesses that harness the latest technology to improve their relationship with the customer and sharpen up their logistics have been best placed to prosper. This webinar brought together four businesses and, it has to be said, four entrepreneurs who are at the forefront of change. Pam Dillon, co-founder and CEO of Wine Ring, explained how artificial intelligence is now being used to help wine drinkers find the right wine based on their own preference, not just on peer review; and how the same technology can help wine retailers and distributors ensure that their offering is in line with modern and local tastes and demand. James Miles, co-founder, chairman and MD of Liv-Ex, explained the principles of the fine wine market behaving as a traditional exchange. He also expounded on how partnerships with other technology platforms were expanding Liv-Ex’s reach and enhancing both market transparency and distribution logistics. Heini Zachariassen, founder of Vivino, quoted some remarkable figures that demonstrate the power and reach of this now well-known and widely-used application. Not only does Vivino now have over 45 million users, but wine sales through its platform have increased by almost 50per cent as a result of the pandemic. As purchases around the world are increasingly made via a smartphone, Vivino is ideally placed to benefit from the trend. Maxime Debure, founder and CEO of WineFunding, explained how modern technology enables his business to bring together wine producers who are looking for investors and both individuals and groups who are interested in investing in wine production. At a time when wine producers all over the world are faced with unprecedented challenges, it would seem logical that many could use an injection of cash to equip their business better to compete. A fascinating webinar – and, given the pace of change, the same speakers will almost certainly have a totally new presentation if invited back in 12 months time.