{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/62301a5c63c97500122f8a76/677b0468a1ad7348eb170a42?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Accelerating Wine Sales w/ Chemistry & AI w/ Kat Axelsson & Charles Slocum, Tastry","description":"<p>Having “taught a computer how to taste” and using that data to help winemakers improve their processes, <a href=\"https://tastry.com/\" rel=\"noopener noreferrer\" target=\"_blank\">Tastry</a> has turned to leveraging AI and their consumer preferences and wine chemistry databases to help wineries sell wine.&nbsp; Katerina Axelsson, CEO, and Charles Slocum, Chief Business Officer, discuss Tastry’s Sales Accelerator Ecosystem, which includes the Wine &amp; Consumer Insights Report, which gives wineries, distributors, and retailers tools to help them sell more wine.&nbsp;&nbsp;</p><p><br></p><p>Tastry has provided an <a href=\"https://drive.google.com/file/d/11UBywml_j5R2u9FfdVmh7Kc77dph4swu/view?usp=sharing\" rel=\"noopener noreferrer\" target=\"_blank\">example report</a> for listeners.&nbsp;</p><p><br></p><p><strong>Detailed Show Notes:&nbsp;</strong></p><p>Tastry overview - see Ep 157 for a deeper dive</p><ul><li>Tagline - “taught a computer how to taste”</li><li>It has two unique data sets - wine chemistry, US consumer taste preferences</li><li>Helps improve winemaking, predict and react to changing consumer preferences</li><li>Works with wineries, retailers, and distributors</li></ul><p>Tastry commercialization history</p><ul><li>1st 2 years - establish trust with winemakers</li><li>Last year - focus on helping sell wines</li></ul><p>Sales Accelerator Ecosystem</p><ul><li>Takes data from 3 areas (winery input metadata, wine chemistry, Tasty validated wine market data) to feed accelerator (AI system)</li><li>Consists of Wine &amp; Consumer Insights (“WCI”) report, Sales Accelerator platform app, &amp; integrations into other platforms (e.g., e-RNDC)</li><li>Has AI search and chat functionality</li><li>Salespeople use data to sell to on/off-premise accounts</li><li>Sometimes, consumer-facing in-retailer displays</li></ul><p>WCI - 2-page report to help sell wines</p><ul><li>Used to train salespeople, it can be a leave-behind</li><li>P1 - for the category buyer; P2 - for servers, staff to educate them</li></ul><p>WCI Components:&nbsp;</p><p>Top left - bottle shot, label zoom in (helps for retention); name of wine; varietal; appellation; price (what it is actually sold for in the market); wine category (AI curates category to be highest scoring on Tastry score)</p><p>Category Score - 200 point scale, 100 is average for the category</p><ul><li>Not a critic score</li><li>&gt;100 is better than the average, &lt;100 less than average in terms of expected performance in its category against the Tastry consumer preference database (e.g., Cupcake Pinot Gris got a 181 score)</li><li>Percentile rank - e.g., 129 = performs 29% above avg</li><li>10,000s wines in database out of ~160k wines in the US</li><li>Never &lt;15 wines in a category</li><li>Creating a new WCI for more rare and unique wines</li><li>Lower priced wines, terroir matters less; higher prices matter more</li></ul><p>Tastry Notes - AI-generated tasting notes, breaks into average and more experienced drinkers</p><p>Segmented Consumer Appeal - insights into buyers of wine; if there’s at least an 85% match (roughly equates to Vivino’s 3.9-4.0 score or 88-90 critic score), consumers tend to notice they like the wine and will buy it again</p><p>Flavor profile (p1) - e.g., fruitiness, oakiness, sweetness</p><p>P2 - flavor profile (major flavors), retail talking points, food pairings - used as a training tool to help people sell wine</p><p>Launching a new page for marketing teams to update data</p><p>Retailer recommender - has shown +3-12% sales in 90 days</p><p>Tastry Pricing - $1,580/year subscription, $370/wine analyzed</p><p>How Tastry can help in the current macro environment</p><ul><li>Creating low / no alcohol wines</li><li>Marketing tools (Sales Accelerator) - addressing younger audiences (e.g., pairings with kale salad and frozen pizza rolls)</li></ul><p><br></p>","author_name":"Robert Vernick, Peter Yeung"}