Join our daily newsletter At The Bell to receive exclusive market insights
- Digital Wine Ventures (DW8) processed 9512 WINEDEPOT orders over April — a 350 per cent increase on the prior corresponding period
- This resulted in a new record average of 2.42 cases shipped per order which DW8 attributes to large trade orders and wine club runs
- The online merchant shipped just over 23,000 cases in April — representing a 580 per cent rise on the same month last year
- Additionally, its WINEDEPOT business signed up 19 new suppliers and soft-launched its direct-to-trade marketplace in Sydney before making WINEDEPOT available to Melbourne trade buyers
- Further, WINEDEPOT’s application for an online packaged liquor licence has been approved, allowing it to launch its Insider Trading wine club
- Company shares are down 8 per cent and are trading at 11.5 cents
Digital Wine Ventures (DW8) processed 9512 WINEDEPOT orders over April, which marks a 350 per cent increase on the prior corresponding period.
Pleasingly, this resulted in a new record average of 2.42 cases shipped per order which DW8 attributes to several large trade orders and wine club runs.
Additionally, the company shipped 23,006 cases in April — a 580 per cent rise on the same month last year.
In saying this, case and order volumes were slightly down from the previous month, which saw 12,272 orders processed and 25,311 cases shipped.
Digital Wine Ventures’ WINEDEPOT business also managed to sign up another 19 suppliers.
Further, the online technology platform has ticked off another two achievements. First, WINEDEPOT soft-launched its direct-to-trade marketplace with the first orders being delivered in Sydney and Melbourne last
week.
DW8 now expects to gradually open up the trading floor in Sydney over the next couple of months before making WINEDEPOT available to Melbourne trade buyers.
Second, WINEDEPOT’s application for an online packaged liquor licence has been approved. This allows the business to launch Insider Trading which is an invitation-only membership that enables DW8 shareholders, staff and employees of the suppliers selling through the WINEDEPOT Market to purchase products at better prices.
Members will also have access to a range of benefits including invitations to private tastings, dinners, masterclasses and other events.
Company shares are down 8 per cent and are trading at 11.5 cents at 10:20 am AEST.
