The Drinks Business: caught up in the web

The August edition of The Drinks Business includes an article on the potential of the internet to dramatically improve efficiency within the fine wine trade. Author of the article, Editor-In-Chief Patrick Schmitt, spoke to Liv-ex Director James Miles about the “fundamental changes” that the web can bring.

You can read the article in full here.

Key points:

  • The internet is being used to make the wine trade more efficient: it can automate processes that were once labour intensive, allowing businesses to scale at lower costs
  • A key factor has been enabling computer systems to talk to each other
  • A traditional stumbling block was the thousands of ways in which one wine can be named
  • Liv-ex’s L-WIN codes – free and available for everyone – enable computers to identify which wine is being talked about
  • Nick Gabb, Manager of Vintner Systems, “L-Win is a great innovation and will be adopted more in the future […], the potential to link it to a lot of data is phenomenal.”

 What is L-WIN?

Liv-ex on the launch of L-WIN