The SOMM Journal

October / November 2016

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Page 16 of 132

16 { THE SOMM JOURNAL } OCTOBER/NOVEMBER { technology } BINWISE, THE SCALABLE, USER-FRIENDLY beverage management system created by former sommeliers has revolutionized inventory control in restaurants across the country, from top Michelin-rated establish - ments to smaller neighborhood eateries. With more than a thousand day-to-day users and continually growing word-of- mouth buzz in the industry, BinWise is the de facto system for beverage programs both large and small, linking purchasing, inventory management, point of sales and beverage lists onto one flexible platform. But the team at BinWise led by tech- savvy President and CEO Isabelle Hong is not resting on their laurels. Later this year, BinWise plans to launch its newest product, the BinWise Analytics Platform. The prod - uct will triangulate consumer trends from several different sources, including its own proprietary wine database, with aggregated information from BinWise users nation- wide and third-party partners in order to track trends in the industry. The Analytics Platform will provide restaurants, produc- ers and vendors with fact-based metrics to help them make informed decisions across all aspects of the supply chain. "The on-premise is where brands are established" explains Hong, "but in a frag - mented, highly independent channel it is dif- ficult to get a real-time pulse on consumer trends. We are embarking on the next phase for BinWise, which is distilling raw data into actionable purchasing trends that can be used by all—sommeliers, producers and vendors." Effectively, BinWise tracks a bottle of wine or liquor through the entire supply chain, ending with the consumer, collecting data throughout the entire pro - cess. If knowledge is power—and, on the bottom line, profit—then this type of data puts enormous potential into the hands of buyers, producers and vendors alike. For restaurants, the benefits of data insights are clear and critical: Knowing what's selling and what's not in the broader market and how to source those hot-sellers can immediately spur top-line revenue growth. To assist further in addressing the busi - ness challenges of small to medium-sized restaurants with limited wine expertise, BinWise is currently building an applica- tion suite called BinWise Savant, powered by the Analytics Platform, scheduled for launch in Q1 of 2017. BinWise Savant will be a recommendation engine, responsively designed to the needs of the restaurant in order to help them manage and optimize their beverage programs. On the other end of the supply chain, distributors and vendors can use BinWise analytics to determine which types of products are trending and where. Does rosé sell better in California than it does in New York? "A winery, for example, might want to know whether they should—or shouldn't—produce a rosé, given current trends," explains Hong. "Is rosé only a summer wine, or something people drink year round? What is the current trend for domestic rosé?" The new BinWise Analytics Platform effec - tively closes the loop between buyers, sellers and consumers in a fragmented supply chain providing a win-win-win scenario for all. What's the bubbly scene in New York? We started by looking at aggregated sales data in New York for Champagnes sold by the glass and were sur- prised by what we found. • Bubbles sell. Granted, we know that December is a celebratory time of year, but our data for the month encompassed over 50,000 glasses sold. • Big Champagne houses may rule the retail market, but in the by the glass market, Grower-Producers have a marked sales edge: Over 60% of bubbles sold by the glass were from Grower-Producers. To each their own. Among the smaller Grower Champagnes, each res- taurant has its own favorites, leading to a highly fragmented marketplace. The upside? A vast variety for the discriminating guest to enjoy. Closing the Loop SINCE ASSISTING RESTAURANTS WITH ADDING 2 TO 3% TO THEIR BOTTOM LINE, BINWISE TACKLES A NEW SPACE by David Gadd CASE STUDY: CHAMPAGNE The BinWise team: Product Manager Anton Hicks, Director of Engineering Dino Liolios and CEO/President Isabelle Hong, photographed at Press Club in San Francisco. PHOTO: CRAIG LEE For more on wine trends and BinWise Savant, go to

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