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“BRAND OWNERS have provided feedback to Spiritrade that we are the only available solution that addresses the fragmented, often chaotic, and archaic way the drinks industry operates,” says Claire Chin, head of the company’s global marketing and business development.
Spiritrade works alongside brand owners, providing them with solutions to manage their brands globally, providing insights, data and trends that keep them informed about the various markets they are trading in.
“The current fragmented way in which the drinks industry works does not only have vast disparities and discrepancies, it is incredibly time-consuming and costly to manage, plus there are also different jurisdictions in every market that need to be considered, both internally and externally,” Chin explains.
Designed as a B2B marketplace, Spiritrade was introduced in 2019 as a daily trading tool for the global drinks industry. The company has since looked to brand owners for feedback, with positive results.
“Brand owners have embraced Spiritrade, and have independently recognised that we provide them with new solutions to managing their brands on a global scale.
“Their feedback has been extremely encouraging and has reaffirmed that we are presenting the right technology to take the industry into a revolutionary trading solution,” says Chin.
REDUCED COSTS
Positive feedback received by Spiritrade includes comments about the platform’s ability to reduce marketing costs through global coverage in over 80 countries, and requiring fewer people on the ground.
Spiritrade also offers brands the opportunity to target specific markets, allowing them to remain in control of their pricing and the markets in which they want to trade, and avoid competing on price and market saturation.
Brand owners are able to trade in a safe and secure manner on the platform, requiring no credit or retros.
“Compared with the traditional process by which the industry has been running, the mounds of paperwork and calculating endless retros and credit conditions are now stripped out to provide a secure online solution where you can manage your goods the way you want to. Minimal fuss, maximum impact,” Chin says.
GLOBAL SCALE
These key benefits, identified by internationally recognised brand owners in their feedback, highlight Spiritrade’s capacity to provide brands with a necessary source of data, and the ability to control their brands on a global scale.
And in the wake of the pandemic, these benefits are more necessary than ever. “Due to Covid there is even more demand for brand owners to manage their global trade better, keep ahead of the curve, and be fully informed,” says Chin. With the B2C drinks segment becoming increasingly sensitive to price as a result of the huge acceleration of growth in e- commerce over the past couple of years, extreme price fluctuations and discrepancies are devaluing brands. Consumers are basing their decisions on price and value.
Chin adds: “Spiritrade is here to help brand owners stay in control of their brand equity by verifying buyers and making sure they are fully aware of the pricing and any market restrictions that the brand owners have set.
“We represent the global drinks market, we are impartial, and we ultimately want to ensure transparency between buyers and sellers to make any transactions smooth, cost effective and efficient for a better, more ethical way of trading.”
