Of Price and Then…

Selling wine and spirits using the price to drive sales is almost always a bad idea.

When this tactic works, the result can be exhilarating – everyone likes to make a big sale. That number that gives a super dopamine hit. Here’s the rub: someone out there has a comparable product with a lower price.

If you do choose this path, make sure you have other arrows in the quiver besides price. Anchor on story. Lean into on dependability. Or – just be thankful and use it to move forward into other things you can connect to the buyer that aren’t reliant on price.

One thing to note: In the extremes of the commodity side of this business (collectible or giant production products), selling on price can be especially effective, but remember – commodities are a volatile sector – and for good reason. Approach with caution.