- Digital Wine Ventures' (DW8) cloud-based technology platform, WINEDEPOT, has seen a 93 per cent increase in orders from the March quarter to the June quarter
- Despite a small shortfall in orders, the total number of cases shipped in June reached a record high of 6098 — representing a 40 per cent increase from May
- Importantly, this achievement positions DW8 well to ramp up the launch of a direct-to-trade marketplace later this year
- Digital Wines has already received hundreds of registrations from brand owners and producers expressing their interest in using the solution
- Company shares have soared 18.2 per cent following today's news and are trading for 2.6 cents each
Digital Wine Ventures' (DW8) cloud-based technology platform, WINEDEPOT, has seen a 93 per cent increase in orders from the March quarter to the June quarter.
In June alone, WINEDEPOT processed 2752 orders, which brought the total number of orders processed in the second quarter to 7754.
Whilst impressive, the quarterly growth was slightly less than the 100 per cent indicated in an announcement released to the market on June 9.
The shortfall was due to a timing difference caused by a stocktake completed across the company's depot network at the end of June.
Positively, however, the shortfall in orders was offset by a higher than expected average number of cases per order. It brought the total number of cases shipped in June to a record high of 6098. This marks a 40 per cent increase from May.
Furthermore, the record number of cases shipped helped to drive the total number of cases processed in June to 11,325. This is a record high and a 35 per cent increase on May's result following the welcoming of new customers.
"With over six months trading under our belt now, we have had the chance to iron out the bugs, refine our systems and processes and build up enough data to see how well each part of our business is performing," CEO Dean Taylor said.
The company is particularly pleased that its wine distribution business continued experiencing demand and achieving milestones during the COVID-19 period.
Importantly, this achievement positions Digital Wine Ventures well to ramp up the launch of a direct-to-trade marketplace later this year.
"While there appears to be plenty of latent demand for this proposition, the launch of the direct-to-trade marketplace introduces a dimension to our platform that will appeal to a much broader audience," Dean stated.
"When our marketplace goes live later this year, for the first time ever they will have access to a direct-to-trade solution that offers similar benefits," he added.
The company has reportedly received hundreds of registrations from parties expressing their interest in using the upcoming solution.
Digital Wine's shares have soared 18.2 per cent following today's news and are trading for 2.6 cents each at 11:16 am AEST.