Wine Decider Pro’s Post

Exciting News from Wine Decider Pro Online! We're thrilled to announce the latest updates to our Pro Online tool, featuring even more data and pricing insights to empower your wine business. With these enhancements, you now have access to: B2B Quantities: Gain valuable insights into the stock available on today's market, allowing you to make informed purchasing decisions and optimize your inventory management strategy. B2B Price History: Track the price trend over the past 24 months, providing you with historical data to analyze market fluctuations and forecast future pricing trends. B2B Market Depth: Get a comprehensive overview of quantities available for sale at each price point, enabling you to assess market dynamics and identify strategic pricing opportunities. All this data is now live! Don't miss out on these powerful new features.

With Wine Decider Pro, you gain access to a wealth of market intelligence, enabling you to identify emerging trends, capitalize on untapped niches, and seize opportunities.

🍇 Curious about the secrets behind wine pricing? 🍷 Unlock the mysteries with Wine Decider! Our innovative tools provide real-time insights into market dynamics, helping you navigate pricing fluctuations with ease. Whether you're a négociant, distributor, or e-commerce platform, our data-driven solutions empower you to make informed decisions and stay ahead of the competition. Ready to take your wine business to the next level? Explore our tools at https://lnkd.in/dZuDf5rZ and let's connect! 🚀

Struggling to navigate the fluctuations in wine prices? 📉 Prices can be elusive, but Wine Decider has the solution! 🚀 Our data-driven tools provide up-to-date insights into market dynamics, empowering you to make informed decisions and stay ahead of the game. Say goodbye to uncertainty and hello to clarity with Wine Decider! 🍷💡 https://lnkd.in/dZuDf5rZ #WineDecider #WineBusiness

Hey Peter? What is it that you do? Often people ask me, "What do you do"? Sometimes it's difficult to explain, even to people in the food service industry. Here's the best description that I have found from Our Channel Partner, Consolidated Concepts. With our $17.5 billion in buying power, I help to bring savings to the independent local and regional restaurant groups so they can operate and compete with the national chains. HBG is a full-service company that includes negotiating distribution and supplier contracts, data tracking capabilities, and auditing weekly, monthly, and yearly contracts with food service suppliers on a local level.    Rebates and Deviations: How Do They Work?   Rebates and deviations are a great way to help you save some of that hard-earned money, and when you own multiple units, they add up! Making profits will always be your top priority as an operator, but taking advantage of some easy savings doesn't hurt either. We're here to show you what rebates and deviations are and how you can take advantage of them as a Consolidated Concepts member.   As an operator, you earn rebates based on purchases you make with manufacturer products. These rebates are paid out to you quarterly through marketing funds used by manufacturers as an incentive for increasing sales and building customer loyalty. Deviations are the off-invoice savings on products you already buy for your restaurant. Regarding manufacturer rebates, our team of experts at Consolidated Concepts track and pay those back if the items you purchased are covered through a Consolidated Concepts contract. As far as deviations go, the end goal will be to lower your spending so Consolidated Concepts will continuously make contract recommendations and give you insights into your spending based on your current data.   Based on your "proof of purchase" of the manufacturer items you bought, we'll provide you a breakdown of your rebate check! Consolidated Concepts has contracts with over 350 manufacturers on 180,000+ line items that cover everything you need for your operation across all categories. I hope that helps you understand; contact me to discuss it more! I love meeting with potential clients! #100%transparent

Do B2B food suppliers need great food visuals? Short answer: Yes. Long answer: Yes. It doesn't matter whether you're selling to restaurants, supermarkets, or directly to consumers. People eat with their eyes. Business decisions in the food industry are partly influenced by how good the food looks. You're also going to come across as much more professional when you have good food photos. It builds trust, because you're willing to invest in visuals. In a competitive market, that can often be the difference between a client saying no and them saying yes. Photo taken for Yu.eat, who help Asian restaurants earn more money.

Matt Thompson co-founder of FOUR CORNERS WINE COMPANY LIMITED shared with us how the Wine Hub has given them the ability to offer a first class experience to new customers, as well as delivering an in-demand service for existing clients too. The Four Corners team very much prioritise customer experience and understand: 🤝 The importance of nurturing new customers gained through the website with direct, personalised communication to convert a portion toward a long-term, account managed approach. 🌐The absolute necessity to provide a premium online channel for existing clients, as an extension of the excellent personal service usually offered, to enable their customers to engage when and how is convenient for them. Read our article 'Is eCommerce compatible with Account Management?' to further explore the customer relationship dynamic when selling wine online. https://ow.ly/MCJX50SLZSM #sellingwineonline #finewine #wineecommerce #winehub #woocommerce

Customers want to pay you more after you do this it's not your product. It's perception. Think about this: a $10 bottle of wine magically tastes better when you slap a $40 label on it. The University of Basel found that people enjoyed the same wine more when they thought it cost more. It's called the "price placebo effect." This isn't just for wine. It's business. And you can use it. Here's how you get customers to want to pay more: ✅ Reframe your prices: Don’t just cover costs. Set prices that match the value and exclusivity you want people to feel. ✅ Tell your value story: Let your customers know why it’s worth more. Highlight the premium service, unique features, or exclusivity they’re getting. ✅ Tier your pricing: Offer different pricing levels. Each one should scream value—this justifies your top-tier price. ✅ Test, test, test: Don’t set it and forget it. Try new pricing strategies, monitor feedback, and adjust until you hit the sweet spot. Bottom line? People don’t mind paying more if they feel like they’re getting more.

Wendy’s Testing Surge Pricing I keep emphasizing in my “Pricing and Compensation” presentations to YPO and EO chapters that there is no fixed price for anything – B2B or B2C. This Smart Company article details how fast-food chain Wendy’s is testing AI-driven menus to vary prices as supply and demand warrants. Thx Scaling Up Coaches Robert Nankervis for sharing this article. Use Price to Throttle Demand in B2B To generate consistent throughput, whether it’s keeping professionals “off the bench” or inventory moving thru your system, use demand-based pricing to “sell what you have and don’t sell what you don’t have.” Dell, early on, would instantly change the pricing for certain computer configurations to make sure they sold the components they had and didn’t sell what they didn’t, helping to provide a consistent throughput for their suppliers as well. This gave them favorable treatment from suppliers and reduced inventory from 60 days to 4 days. https://lnkd.in/dgn5cyfS

🧠 Understanding Asymmetric Cross-Price Elasticity: The Nuances of Pricing Strategy 💸 In the world of dynamic pricing, we often focus on price elasticity—how the demand for a product responds to changes in its price. But there's a hidden layer that many overlook: asymmetric cross-price elasticity. 🔍 What’s Asymmetric Cross-Price Elasticity? It’s the nuanced way demand for Product B (say, pastries) can respond differently to price changes in Product A (coffee), depending on: - The relationship between the products (substitute vs. compliment) - The direction of the price change (increase or decrease) 📊 Here’s how it plays out: Price Increase of Product A - If substitutes: Demand for Product B increases as customers switch (positive cross-price elasticity). - If complements: Demand for Product B decreases with fewer paired purchases (negative cross-price elasticity). Price Decrease of Product A - If substitutes: Demand for Product B decreases as Product A becomes the preferred option. - If complements: Demand for Product B rises as more bundles are bought. 💡 This phenomenon is crucial because demand responses aren’t always symmetrical! Consumers may react strongly to price decreases but less so to increases—or vice versa—depending on factors like budget constraints or perceived value. 🔗 Why It Matters Asymmetric cross-price elasticity can reveal valuable insights for fine-tuning dynamic pricing strategies. Whether boosting profits or optimizing inventory, understanding these shifts helps brands adapt to real-time market behaviours and predict more accurately. So, consider cross-product relationships and price directionality next time you build a pricing model. This deeper insight can make all the difference in delivering the right pricing strategy. https://lnkd.in/ggZ4pFvt