The Company is pleased to report that the WINEDEPOT business generated total revenue of $182,423 for the quarter ending 31 March 2020. This was an increase of 116% on the $84,250 maiden revenue reported in the previous quarterly report.
DW8 CEO, Dean Taylor was pleased with the result given it’s always the quietest trading period of the year and the extreme loss of confidence that Australian wine producers have faced during the quarter.
“After dealing with bushfires, smoke taint, an extremely low yielding vintage, 2020 was already a vintage that every wine producer would want to forget. Over the last few weeks, wineries big and small have also watched as their export, trade distribution and cellar door markets literally collapse due to the devastating impact of COVID-19.”
“With no sign of these markets reopening in the near future, their only hope is driving sales through online and direct-to-consumer market segments. Fortunately this is their most profitable route to market and right now there’s exponential growth due to the massive surge in online purchasing.” “This places WINEDEPOT in a strong position as our platform caters predominantly for wineries generating sales in these sales channels. We are in the unique position that the outlook for our business over the next 6 to 12 months is very optimistic.”