Gut feeling has had its day: data-driven category-management for wine market success

In today’s fast-moving wine industry, a deep understanding of the product, market and competition is essential to stand out from the competition and ensure sustainable success.
A comprehensive digital data service that provides detailed information on these areas can be a decisive competitive advantage in category management. This is also confirmed by the Lebensmittelzeitung in its article from August 9, 2024, which is well worth reading: AI study: gut feeling has had its day (by Iris Tietze).
The Lebensmittelzeitung study shows that although many retailers recognize the importance of data-based decisions but in practice still often rely on “gut feeling”. Lack of resources, lack of skills and resistance from management are common reasons for a slow changeover. Artificial intelligence is seen as having great potential for the future, particularly in pricing, forecasting_ and in assortment management. Data-driven decisions lead to higher efficiency, better profit margins and more satisfied customers.

These are also exactly the experiences of our founder and senior partner Jasmin Kettenbach after 25 years in the Aldi supply chain and for all these reasons, with Verivinum we offer a data and AI-supported solution tailored to assortment management in the wine and sparkling wine industry.

Why is a database service like Verivinum so important for product range management?

• Whole picture
  Databases offer a 360-degree view of the wine market. They not only provide information on our own products, but also on those of our competitors, current market trends market trends, consumer preferences and distribution channels.
  Verivinum contains over 25,000 samples with up to 45 product characteristics.

• Data-based decisions
  Companies can make well-founded decisions based on the data collected. Whether it is the introduction of new products, adapting pricing strategies or optimizing product ranges - the data serves as a reliable basis. reliable basis.
  Verivinum supports approx. 30 product types, 60 product subtypes, a large number of product features and over 40 key products.

• Effective assortment management
  Well-managed assortment management is geared towards optimally organizing the shelves and meet customer needs in the best possible way. Databases help to choose the right product placement, plan promotions and measure the effectiveness of marketing measures.

• Competitive analysis
  By comparing their own products and services with those of the competition, companies can identify weaknesses and and build on the strengths in their own product ranges. For this purpose Verivinum provides corresponding search functions.

• Forecast models
  Many databases offer forecasting models that predict future market developments. This enables companies to react to changes at an early stage and adapt their strategies.
  Verivinum offers corresponding forecasting functions for premium customers. [Contact us!(contact) or make an appointment with us!

How can Verivinum specifically improve product range management?

• Segmentation
  Assortments can be segmented according to various criteria. This enables a more targeted optimization and an optimal adjustment of the entire product range. With Verivinum, you can search the market using 26 different filters or simply use an input mask like Google for a fulltext search.

• Price analyses
  Databases provide detailed information on prices, price trends and price ranges. This helps to optimize your own optimize price positioning and ensure competitiveness.
  Verivinum contains weekly updated prices for all products and a history going back to 2017.

• Promotion management
  The effectiveness of promotions can be optimized based on information about the competition. # Verivinum contains a special competition analysis function.

• Assortment optimization
  Databases support the analysis of the product range and help to identify unsold products and adapt the range to customer requirements.

A database service like Verivinum is an indispensable tool for wine producers and retailers to be successful in a complex and dynamic market. By providing comprehensive and detailed information information, such a database service enables data-driven assortment management, which leads to greater efficiency, better customer loyalty and ultimately higher sales.

Case study: Successful product placement in the supermarket thanks to data analysis

The bait must taste good to the fish, not the angler - this old saying is particularly true in modern product range management. To successfully place new products on the market, it is crucial to know the specific needs and preferences of the target group. and preferences of the target group. The target group is not the consumer of the actual product, but also the buyer and the strategic management of the supermarket. An illustrative example of this is provided by the analysis of a large supermarket that was on the looking for a new organic wine.

The analysis: What does the supermarket customer (and the buyer!) want?

A winery wants to offer a large supermarket to expand its range with a high-quality organic wine. Before the launch, the winery carried out a comprehensive data analysis to get an accurate picture of customer customer requirements:

• Sales profiles: Which types of wine (red, white, rosé) are already popular? Which growing regions are preferred?
• Customer feedback: Which flavors are preferred? Are there certain grape varieties that are particularly popular?
• Competitive analysis: Which organic wines are already on the market and what are their strengths and weaknesses?
• Label analysis: Is there a recognizable style in the supermarket labels?
• Price analysis: What is the price range for wines of this type at this supermarket and its competitors?

The analysis using Verivinum showed that the supermarket’s customers had a high awareness of quality and origin. They preferred organic wines with a pronounced varietal purity and a clear structure. In addition, the demand for natural wines had increased. The label style was recognized as modern and simple and a price point for which this wine could be sold.

Product development and a customized offer

Based on the results of the analysis, a new organic wine was developed that was precisely tailored to customer needs and the supermarket’s cateogries:

• Producer: Top German winery (VDP)
• Grape variety: A classic grape variety (Riesling) with a distinct terroir character (Rheingau estate wine)
• Cultivation: Demeter cultivation in a renowned wine region.
• Ageing: Gentle ageing to develop a complex aroma.
• Taste: A harmonious wine with a good balance between fruit and acidity.
• Bottle: An elegant bottle with an appealing label that emphasizes the origin and special characteristics of the wine. The style of the supermarket has been matched, as has the CI of the producer’s brand manufacturer’s brand.

The result: a complete success

The launch of the new organic wine was a complete success. Within a short space of time, the wine became one of the most popular products in the supermarket’s wine range. Customers appreciated the high quality, origin and unique taste.

Conclusion

Through thorough data analysis and product development tailored to this, we have succeeded in creating a new organic wine that meets the specific needs of the supermarket’s customers. The success of this case study shows how important it is to put the customer at the center of all considerations. Because only if the wine meets the taste the customer’s taste, it will be a success.

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Press-Contakt: presse@verivinum.com