Sigwine has existed in the growing Chinese market ever since mid 2014. However, the Chinese market is not who we mainly target. Sigwine’s biggest strength is its’ convenience. Sigwine eliminates wasting time going to the store, choosing bottles based on the label, and worrying about fakes. Consumers can easily subscribe or order individual wine bottles through our website or fresh mobile app. Each month, our panel of wine experts choose the six international wines to ship out to our members. Along with the wine, members receive tasting notes, which includes details about the wine, winery, region and food pairings.
Being a small company, another strength is that my supervisor, the owner, is able to know many of our members. If he knows they will be out of town and they have yet to contact us about holding on a delivery, we are able to take care of the situation. My supervisor also believes that since he has relations with many of our current members, they are very loyal and continue to subscribe. They like to spread the word about us and that helps us in acquiring us new subscribers.
A weakness that I have noticed during my internship is the name(s) of the company. My company, Signature Wine Club, also refers to itself as, “Sigwine,” “Signature Wine,” or “Signature.” Further, my supervisor was recently explaining to me that when consumers first hear about our business, they expect it to be an actual club/bar. The different company names can be very confusing and none can clearly help people understand our service.
An opportunity for the company would be to dive into the Chinese market. This is where our future clients are. By mainly focusing on expats, it limits our potential to grow. Once locals join, they will tell their friends and families about us, and the company should grow at a much faster rate.
Currently, there are no other wine subscription companies that service mainland China. However, with many locals being uneducated about wine, and hesitant about paying for an unknown product, a threat to the company would probably be physical stores. Being an online business, we cannot interact as much with consumers until they decide to join.