By Quini TeamMay 17, 2023Comments Off on QUINI Launches Standalone Executive Data Dashboard Monthly Subscription Service for Wine Professionals
Wine Product Health At-A-Glance Mobile Solution Offers Instant Answers To Critical Questions When and Where Needed
VANCOUVER, BC – May 17, 2023 – Quini® (www.quiniwine.com), the leader in consumer sensory data and analytics solutions for the wine industry has unveiled Quini Executive™, a standalone interactive analytics solution that enables wine industry professionals to view and share essential wine product consumer sensory and attitudinal insight quickly and easily via mobile devices, at an affordable rate.
“We consistently hear from industry professionals that they wish they could pull up information quickly on their mobile devices and share it when they need to answer a specific question in a meeting, at a trade show or on a sales call,“ said Roger Noujeim, Quini’s CEO. “Quini Executive is the answer. It’s a quick, easy, and affordable way to provide wine professionals with consumer intelligence and facts when and where they need them.”
The new solution leverages Quini’s proprietary data and machine learning algorithms to answer critical business and product questions and provide actionable consumer insight on-demand.
Quini Executive is now available as a monthly subscription service on the company’s website for $149 per month, offering unlimited access to data available on Quini. A complimentary limited trial is also available at https://analytics.quiniwine.com/exec.
The new solution taps into Quini’s extensive data of millions of sensory data points covering hundreds of household name wines in high sales volume categories in the United States and Canada. Consumer wine tastings held by Quini in major cities add new data to the system, in near real-time.
Quini’s standalone Executive Dashboard solution offers a full wine product health check, on a single analytics dashboard.
Interactive charts and displays visualize a range of consumer sensory and attitudinal data, such as a wine’s ranking within a chosen category, sensory scores on the various aspects of the wine, like its appearance, aroma or taste, segment and competitive product benchmarks, consumer purchase intent, flavour profile, sweetness, acidity and tannin impressions, price sentiment, wine balance and optimal target audiences. The system also automatically generates strategic recommendations.
ADDING CONSUMER RATINGS TO QUINI EXECUTIVE
Individual Wines and Ratings – Clients can capture consumer ratings and add new wines to the system, free of charge, on the Quini website, using Quini’s wine tasting and rating application.
Self Managed Group Tastings – To efficiently run group tastings, blind and non blind, users can also access QUINI SOMM SILVER™, valued at a $97.5 per month, free of charge as part of their subscription to Quini Executive. QUINI SOMM is Quini’s integrated wine tasting event management and wine list publishing platform.
Quini-Led Consumer Tastings – To include wines to Quini managed consumer wine tastings in major markets, please contact Quini for details, at email@example.com.
ABOUT QUINI Quini is the leader in sensory data and technology solutions serving the wine industry. Privately held, Quini is headquartered in Vancouver, BC. Quini’s investor group includes OKR Financial (www.okrfinancial.com) and private investors.
By Quini TeamJanuary 31, 2023Comments Off on Navigating the Challenges of the Wine Industry: Understanding the Needs of Millennial and Gen Z Consumers
According to the latest report from Silicon Valley Bank, ‘State of the Wine Industry Report 2023‘, the wine industry is facing a number of challenges, including a decrease in overall consumption and an increase in competition from alternative drinks such as beer, spirits and hard seltzers. The report also notes that the industry is facing a significant shift in consumer demographics, with the millennial and Gen Z consumer cohorts becoming increasingly important segments. These consumers have different tastes and preferences than previous generations, and they are more likely to opt for lower alcohol alternatives and various drinks other than wine.
One key takeaway from the report is that consumers older than 60 are the only growth segment. Consumers younger than 60 have a lower share of wine consumption compared to what they did in 2007. The report also highlights that the premiumization trend is slowing. While older consumers are paying more for premium wine, younger buyers are increasingly less engaged with the wine category.
Another important trend is that more consumers are abstaining from wine. 35% of 21-29-year-old consumers drink alcohol, but not wine. That number drops 7 percentage points to 28% for individuals 50-59 years old. Of those consumers, two percentage points moved to being at least marginal wine consumers. Meanwhile, five percent are now abstaining from drinking alcohol.
In light of these challenges, it’s important for wineries to pivot and innovate with targeted new products. Sticking to current strategies has clearly not worked. It’s a second consecutive year of negative growth. After years of declining growth, sales volume could stabilize, but swift action is required to turn the tide.These trends are making it increasingly important for wineries to understand and cater to the needs of their target market, in order to stay competitive and continue to grow their business.
By tapping consumer sensory data, wineries can better understand and cater to the needs of the millennial and Gen Z consumer cohorts, and take effective action to adapt to the changing market and consumer trends.
This type of data, traditionally not part of a winery’s typical arsenal, can provide the wine producer with valuable insight into consumer preferences and tastes, which can help their teams make better business and product decisions.
For example, sensory data on consumer preferences for specific types of wine, such as those that are lower in alcohol content or residual sugar, the hard seltzer or fizzy category, or products made with organic grapes, can help wineries identify product development opportunities to enter new growth markets.
Additionally, data on how consumers perceive the taste, aroma, and appearance of different wines can help wineries optimize products and make them more appealing to these consumers. This can help wineries create targeted marketing campaigns, and develop more tailored products.
RESOURCING FOR A NEW NORMAL
Sales reports offer familiar data that wineries use effectively for many decisions. Consumer sensory data however are a new element. Not a replacement, but a critical addition to the decision making process. Data that enables winery professionals to be more pre-emptive than reactive, and gain access to deeper insight when searching for answers.
While several wineries have begun to successfully deploy sensory data, many still have not and could be left behind as market dynamics advance and early adopters get ahead.
Making effective use of sensory data however requires:
i) emphasis on its importance, by upper management;
ii) adequate funding; and,
iii) developing internal skillsets or recruit to ensure the use of the data is optimized.
Over the past three years, we have observed a healthy transition at wineries we work with. More conversations now include consumer palate discovery. Sensory data access and training are part of a new normal, recruits are more and more experienced in the area of consumer research, and annual budgets are adequately allocated to give marketing, innovation and winemaking teams access to sensory data.
THE BOTTOM LINE
Younger consumer cohorts is where the long opportunity is. Innovating along their preferences requires new thinking, palate discovery and analysis tools. By staying on top of evolving consumer trends, wineries can make more informed decisions about product development, marketing, and business strategy. This can help producers to stay competitive and continue to grow in an ever-challenging market.
By Quini TeamJanuary 6, 2023Comments Off on Pushing The Envelope
How Quini Developers Used Dash To Create The Wine Industry’s Most Advanced Actionable Analytics Dashboard Environment for Wineries
Welcome to our latest blog post!
We are excited to share a new white paper written by Quini’s tech and data team, Anton Bobanov (Lead Data Analyst), Prashant Gucchait (Lead Developer), and Martin Ye (Software Programmer). The white paper, titled “Pushing The Envelope: How Quini Developers Used Dash To Create The Wine Industry’s Most Advanced Actionable Analytics Dashboard Environment for Wineries,” details the process our team went through to develop a new, more advanced and efficient dashboard for the wine industry.
In the white paper, our team discusses the challenges they faced with the previous system, including difficulties with data access and performance, and the limitations of statistical tools and styling options. They also outline the key requirements for the new platform, including the need for a single product to serve different purposes, fast and good connectivity with MongoDB, and the ability to integrate statistical and machine learning tools.
After careful evaluation, our team decided to use the Python/Dash/Plotly stack to build the new platform. They detail the steps they took to build the prototype, including the creation of a single dashboard connected to Quini data, the development of a multi-page data app, and the integration of statistical and machine learning tools.
We invite you to read the full white paper by clicking on this link. We hope you find the information and insights shared by our tech team valuable and informative.
By Quini TeamDecember 27, 2022Comments Off on Quini’s Unveils Its ‘Top Three Wines’ List For 2022
The personal, subjective taste and opinion of the end consumer is ultimate truth when it comes to wine. It is they who vote at the store, with their wallets.
Here are the top three wines tasted and rated on Quini by regular, frequent wine buyers during 2022. Ratings were done as part of Quini enterprise and winery client sensory data requirements, on the Quini wine tasting and rating platform, at guided tastings.
The list includes wines that were tasted blind and some non blind, in Dallas and New York, Houston, Los Angeles and San Francisco, and Boston and Vancouver.
For every wine included in this year’s top three, a minimum of 25-50 ratings were required, with many of the wines with 100-200 or more ratings.
We hope you find some surprises, new wines to try, and perhaps, if you are a winery, celebrate if your wine is among the top three. With consumers, it is quite the feat to hit such high marks on Quini.