Wine Depot

WINEDEPOT MARKET taps latent demand despite ongoing lockdowns

Wine Barrels

The Company is pleased to report that WINEDEPOT MARKET has signed up trade buyers and generated orders in both Sydney and Melbourne, despite the lockdown restrictions.

Digital Wines CEO Dean Taylor is pleased with the first two months of MARKET’s trading performance stating:

“Despite the uncertainty and disruption associated with ongoing lockdown restrictions in NSW and Victoria, we have managed to sign up more than 300 venues and generate pleasing levels of orders. The feedback from users on both sides of our marketplace has been extremely positive and demonstrated there’s latent demand for a solution like the one we’ve created.”

“While the lockdowns have undoubtedly delayed our penetration of the Sydney and Melbourne markets, we are very comfortable with the growth rates achieved so far and excited about the potential to scale customer acquisition rapidly once the current restrictions lift. We are also reassessing our go-to-market schedule with a view to launching in markets which are not locked down, such as Adelaide, Brisbane and Perth, earlier than expected.”

“Fortunately for us, our business has significant exposure to the direct-to-consumer market which tends to spike from an increase in home alcohol consumption during lockdowns. The silver lining for us is that any delay in B2B growth is offset by increased activity across the rest of our platform.”