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Idea Overview:
The concept, seen as B2C, is to supply premium wine to customers spread across the UK through a reliable online platform and its associated app. However, the first steps will be taken in the B2B direction, where the primary objective is to provide innovative solutions to businesses by developing a variety of subscription plans that fit within those companies' business strategies, establishing partnerships, and using them as leverage for my wine-selling activities. Due to the excellent Italian wine quality and to my prior working experience in restaurants, I would prefer to import fine wine from trusted producers in Italy, but not exclusively. Moreover, research supports this choice, indicating that region and price are the most essential factors in wine purchase decisions.
Who might use it/where it might be used?:
For this type of product there is an extraordinary opportunity to sell to consumers, retailers or even to wholesalers, once the agreements with the right stakeholders are established.
The Market (B2B, B2C or Both):
Both
Sector the idea belongs to:
Manufacturing
Is there a similar idea to be found?:
Yes, I have examined the business models employed by TheWineSociety.com, NakedWines.co.uk, and HonestGrapes.co.uk, and they either use the standard subscription plan or are specifically focused on Italian premium wine, like Shop.Passionevino.co.uk. However, according to my research, there isn't a similar business strategy involving the B2B concept that I will propose, at least not one that aims to incorporate a subscription model plan into the strategy of another company, with this specific combination of offerings.
Why you think there is a demand for your idea?:
The Liv-ex 100 Fine Wine is the industry's leading benchmark, and has risen 32% since June 2020, setting a new brand record in October 2021 (Liv-ex, 2022). The Bordeaux Index recently reported record wine and spirits sales in 2021 (Decanter, 2022). Several wine retailers, merchants, and auction houses have confirmed strong demand from at-home drinkers. A percentage of 86% of a UK survey's respondents said they planned to make fine wine consumption a permanent lifestyle change (ibid). Longtime habits are anchored at the neural level, so they are powerful determinants of behavior.
Who would be the ideal customers?:
The ideal customers can vary: Website / App Users (B2C): • Generation X and Millennials (Age between 30-45) • Medium-high income • Wine enthusiasts • Interested in Subscription models • Interested into pursuing a luxurious lifestyle B2B: • CEOs, and founders of companies delivering food products at home, wanting to expand and diversify their offering
What ideas do you have to reach these customers?:
I will create landing pages and reach the multi-segment target through Google, Instagram, and LinkedIn Ads. B2B: I will develop subscription plans that can be integrated into other companies' business strategies and use them as leverage for my wine-selling activities. Furthermore, I will initiate partnerships and tie my wine offering to their product offering. B2C : There will be a newsletter subscription option and a "subscribe and save" option for repeated automatic orders. Both the platform and the app should have an easily navigable menu, a broad stock of quality products, and a user-friendly payment facility.
How far have you developed this idea?:
• I did research on the degree of demand in the UK market; customer research; idea validation; business planning; and Intellectual Property • Additionally, I have gathered information about the most significant institutions in the UK relevant to this type of commercial activity. I also obtained some COBRA information from BIPC Northamptonshire, BIPC Worcestershire, and BIPC Liverpool. • I chose the business name and gathered some of the brand's identification characteristics: Vision, Mission, Value Propositions, and Logo • I have defined the Business Model Canvas and the Lean Canvas, together with 4 ideal customer personas (B2B and B2C) (added in the Supporting Files). • I am running several experiments as part of the Idea Validation Process. • I have identified several potential international and domestic carriers.
What – if any – feedback have you had for this idea so far?:
I have listened to other people operating in the field talking about this specific market, and the general impression was that it has huge potential. I am currently gathering feedback through the Idea Validation experiments.
What supporting material – if any - would you like to add to your proposal?:
This is the presentation of my business idea in less than 60 sec: https://youtu.be/DO9bieyXKC8

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14 comments to “Fine wine e-commerce”

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  1. Trudi Hamer - July 5, 2022 at 2:23 pm

    Interesting idea. Have you researched your competitors? How will you source your suppliers? I would be interested to find out more detail about the full operation.

    • Alina Diacan - July 6, 2022 at 7:55 pm

      Hello, Mrs. Trudi! Thank you for your comment. Yes, i have done research on the competitors and the potential suppliers, as well . I rely on my contacts and work experience in Tuscany, Italy, in order to establish agreements with trusted quality wine producers, considering that i’ve lived there for over 8 years.

  2. Tim Strege - July 5, 2022 at 7:36 pm

    The highest per capita wine consumption is in the historic wine producing countries of Portugal, France and Italy, with the UK well below these levels. You might research and think about how consumers think about wine in the wine producing regions – and then consider what concepts might be transferable to the UK. (Although I am not sure what traditional UK foods pair well with wines, this might be useful in marketing.) In the United States, the best wine subscriptions are direct with the vintners. Maybe consider a partnership with some wineries to showcase their “best of class” wines, with the option of discounts for re-orders.

  3. Richard John - July 6, 2022 at 11:37 am

    I like the idea (but then I like wine.) I wonder if there’s some differentiation to help you stand out in a crowded market; for example, a subscription model for a monthly delivery of half bottles with accompanying snacks?

    • Alina Diacan - July 6, 2022 at 9:22 pm

      Hello, Mr. Richard! Thank you for your interest. I have considered the idea of a monthly subscription with delivery of 1 or 2 bottle(s) of fine wine, like a Magic box, with the choice of the bouquet based on the customer’s preferences, and some brochure with suggestions of accompanying food or even recipe. I have a few more ideas, to be discussed in the right context.

  4. Simon Krystman - July 12, 2022 at 3:35 pm

    Hi Alina, please could you upload your Canvas and Customer Persona’s

  5. Peter Illes - July 25, 2022 at 3:02 pm

    Hi Alina! Great job on the personas and canvas. Just a quick note: you can have multiple personas. Look at a persona as an archetype of a group of users. With wine, I am pretty sure there are multiple personas you can target. Isabella, who uses the service to save time, is one. Another might be people who use your subscription service as a way to explore new wines might be another (I have friends who have plenty of time, but still use a service like this). Later in your messaging and marketing you can create different campaigns to target them separately.

    From my experience, positioning is key. Here in Hungary there are about 3-4 alternatives for wine subscription. One is focused on very niche wines. Another on the size of the selection. They attract very different customer bases.

  6. Mark Cardwell - August 31, 2022 at 11:04 am

    A thought: the Customer Persona isn’t so useful in B2B situations – not least because there are multiple people involved in the purchase decision. For B2B situations, it can be good to focus on the Value Proposition Canvas, to make sure you have a clear statement of why your offering is good for the purchasing company. (And then come back to the Customer Personas later, in preparation for making a sales pitch.)

  7. Mark Cardwell - August 31, 2022 at 2:49 pm

    It occurs to me that the B2C and B2B propositions are so different, it would be helpful to look at each separately. And then afterwards, consider the synergies.

    The B2C proposition looks challenging – there are plenty of competitors, and the market leaders are well known and have considerable economies of scale.