More and more people are getting invested with the multi-billion dollar wine industry. In fact, business owners have opened wine stores online to attract more customers and penetrate new market. Success stories of wine retailers on the Internet have persuaded many aspiring entrepreneurs to embark in the same endeavour. But with many established wine stores online, how can you compete against them?
For starters, here are some tips on how you can build your dream wine empire:
- Identify Your Target Market
According to research, there are five types of wine drinkers in Australia. These are the enjoyment oriented (casual wine drinkers); experimenter (highly knowledgeable wine drinkers); your basic wine drinkers; image-oriented (knowledge seeking wine drinkers); and conservative (wine knowledgeable wine drinkers). From here on, you will know which wines you need to stock your store with.
- Study Your Competition
For your online wine store to be a clear cut above the rest, you have to research and study you competition. What makes them successful? What are the things you would do differently? Scrutinise everything on a customer standpoint. You can also look for less popular wine stores and note the things that should be changed or improved.
- Create a Business Model
Determine which wines you should sell. Think over what will be your store’s specialty. In addition, plan your future deals, promos, sales and discounts. When is the best time in making such offerings?
- Study Your Local or State Laws
Ascertain what laws will have an impact on your business. Comply with the tax laws and submit necessary permits before you start your operation. Moreover, know what areas ban the shipping of alcohol via mail to avoid future repercussions.
- Choose Your Distributor
If you want to sell wines that are cheap but have superior quality, source your wine from small-scale winemakers who produce quality wines but do not have the means of marketing their product. Be that as it may, you can still source your products from your usual winemakers and merchants.
- Build Your Website
You will need funds so that you can finance a web designer and developer. That is why a small business loan might be important at the beginning of the process. Sourcing a no credit check loan has its ups and downs, therefore you should only transact with loan agents who understand what it’s like starting a business.
In designing your website, it should look professionally and must have a shopping cart with 128-bit security encryption. You can also opt for trusted shopping partners. Moreover, avoid a web design that has too much stuff on your home page. Remember that less is more.
- Promote Your Store
After creating your store’s website, increase your traffic by promoting your products in Wine-Searcher.com or WineZap. You can also advertise using social networking sites such as Instagram, Twitter and Facebook.