Concha y Toro has added additional features to its Wine Wise smartphone advice tool launched a year ago to help retailers sell wine more profitably.
The free advice tool has been enhanced with two new functions - a food and wine matching feature presenting simple options for matching popular food and occasions, and a profit on return calculator introduced to provide “invaluable aid” in helping retailers determine the optimum selling price for their wine.
The profit on return calculator enables the user to enter the cost price, number of bottles in the case and VAT rate, and when a desired sell price is put in, the calculator reveals profit on return by percentage and crucially as a cash figure per case. A slider then enables the user to compare POR at different sell prices.
Since launch in May 2016, Concha y Toro said it had experienced “really positive” engagement with Wine Wise, which it positioned as an objective category advice tool, offering the full spectrum of wine options to make it easy for retailers to understand what to stock, how to display and look at other successful case studies in wine retailing.
“Now we can also give them options for wines to suggest in response to typical customer questions, and help them work out what to charge for their wines to hit the sweet spot in the price and profitability scale.,” said senior customer marketing manager, Laurie Billson.