Wine Depot

Future-Ready: How Planning Well Can Keep Your Wine Business Ahead

Wine Production

More than a year after COVID-19 surprised the whole world, close to 15 million Australians are still under strict stay-at-home orders and thousands of businesses are faced again with financial stress and uncertainties. But truthfully, even before the pandemic happened, businesses are always vulnerable to threats. For the wine industry, this could range from natural disasters, changing consumer demands, turbulent international trade relations to tech disruptions. 

In this fast-evolving market, businesses need to be future-proofed to survive and thrive. This means anticipating future problems, becoming agile, and setting strategies in place to allow you and your team to adapt quickly. 

Wine Production

What’s stopping you from future-proofing your business?

  • Fear of the Unknown

Due to largely being an agriculture business, the wine industry is known for being traditional and slow to adapt especially when it comes to emerging technologies. New innovations are often considered too complicated, unstable and intrusive. But if there’s anything we learned in the past year, it’s that going digital is no longer an option– it’s the only way forward. 

  • Becoming Too Comfortable

Why fix it when it’s not broken? This old adage, unfortunately, is a hindrance to most wine businesses’ growth. For instance, when China decided to hit a hefty tariff on Australian goods, several wineries that relied heavily on international trade found themselves scrambling to find new avenues to move their stock. The reality is, what works now may not eventually work in the future and that’s what businesses need to prepare for. 

  • Lack of Resources

The biggest roadblock is the misconception that planning for the future is expensive and time-consuming. A certain level of investment is indeed necessary but being vulnerable and irrelevant can even be more costly for a business. Revisiting and optimising business strategies often free up time, allowing you to redirect resources where it’s needed. 

Woman in Red Shirt Standing in Front of Wine Barrels

How can you future-proof your business?

  • Adopt a customer-first mindset

Connect with your customers as often as possible. Don’t only communicate to them when you have something to offer, instead build a relationship. Pay attention to their needs, interests, and behaviours and don’t be afraid to ask for feedback. This helps you improve customer experience and potentially discover untapped growth opportunities. 

Take Malborough-based Forrester Wines who listened to what the customers have to say and responded to growing customer demand with no and low alcohol wines, eventually becoming a leader within the product category. 

  • Establish a clear vision and strategy

Take time to step back and review your goals and strategies regularly. Get your team involved to get different perspectives. Identify your strengths, challenges, opportunities, and possible threats and assign action points for each. Don’t be afraid to get rid of anything that no longer serves your organisation. 

In the case of Good Pair Days, they didn’t feel the name “Wine Collective” fit anymore when they decided to pivot the company to become an online retailer with a powerful personalisation feature, so they decided to drop it and overhaul the brand

  • Embrace technology

If you want to grow your business, you’ll need all the help you can get and most of the time, this means turning to technologies. Innovations allow you to get more things done by making processes easy and simple. 

For example, WINEDEPOT’s well-designed platform offers integrated trading, logistics, and payment solutions to help you serve trade and consumer markets efficiently. This means you can reach more customers, get paid faster, and fulfil orders without lifting a finger. From customer service to deliveries, everything is handled for you so you can just sit back, relax and watch the sales come through. 

Interested to learn more? Contact us or click here to get started right away.