Let’s talk topline sensory data. There will be more opportunity to talk about deeper data in future posts. Like acidity, colour intensity, tannins or aroma clusters. For now, we’ll cover some of the areas most obvious in wine tasting:
– EYE (the wine’s appearance when it’s in the glass)
– NOSE (the aroma)
– MOUTH (taste)
– FINISH (aftertaste)
A retailer, irrespective of the scope of their operation can use consumer feedback about these sensory areas of wine, in many ways. Depending on what the business problem one is trying to solve is, or what the opportunity might be, analytics allow businesses to:
1) Instantly spot if a wine they carry (or are evaluating) is likely be repurchased by consumers. I.e., will people come back to buy the same wine again or tell others about it so the wine continues to sell well beyond just the first push or promotion? The combined scores of these five points should put the wine above or below a pre-defined long term sales potential rating level for the store. Like whether consumers overall rate a wine at 80/100, lower, or higher.
2) Spot what customers like more about a specific wine and use that key aspect to accurately and effectively present and promote the wine. As an example, if people love the aroma of the wine more than its taste (provided the taste gets at least a pass too), staff can highlight the beautiful aromas when talking about the wine and in point of sale material like shelf talkers. Consumers like to return to stores where they get accurate information and where staff know their products.
3) Leverage consumer ratings of a wine versus its direct competitors to negotiate with vendors and / or adjust prices or orders accordingly. This can be both up or down. A blow away score on a wine compared to another in the same category might offer some room for a price increase. A welcome opportunity by any store operator. Conversely, a price reduction or even promotion to get rid of a product once and for all, may be the right course of action.
As a marketer or data pro, how else do you retailers benefiting from sensory data and business intelligence?
And if you are in retail, how can we help you?