The second edition of CyberWine, Argentina's pioneering online wine purchasing event, took place from August 7 to 11, 2024, and demonstrated remarkable growth in all key metrics compared to its inaugural edition.
This event, aimed at enhancing the visibility and sales of wineries through e-commerce channels, has solidified its position as an essential platform for Argentine wineries, showcasing impressive results in terms of both traffic and sales.
A Significant Increase in Traffic and Sales
CyberWine 2024 marked a notable success with a 110% increase in visits to the online stores of participating wineries, accounting for 60% of the total traffic they received during the event. This surge in traffic was particularly important as it offset a 25% decline in visits that wineries typically generate independently. The strategic management of advertising guidelines played a crucial role, leading to a fivefold increase in followers and a sixfold increase in event subscribers.
The impact of this traffic boost was evident in the profitability metrics for the 31 participating wineries. An impressive 26 of these wineries saw a return on investment ranging from 9 to 70 times the amount they invested. Even the winery that received the least traffic through CyberWine benefited, receiving more visits than it would have if it had invested the same amount in its own advertising efforts. This outcome underscores the event’s effectiveness in driving high-quality traffic, with some wineries seeing traffic volumes two to three times higher than what they would have achieved on their own.
Moreover, the event’s conversion rate, which reached 1.24%, aligned with industry standards and was particularly notable given the significant volume of traffic. This high conversion rate allowed many wineries to achieve the equivalent of a month or more of sales in just six days. In total, CyberWine 2024 generated a turnover of 436,541,738 pesos, with 4,567 sales and an average ticket of 95,586 pesos. These figures represent a 280% increase in turnover, a 9.92% rise in the average ticket size, and a 246% increase in the number of sales compared to the previous year.
Strong Participation and Broad Media Coverage
The event saw participation from 31 wineries, a significant number considering that Argentina has approximately 60 wineries with active e-commerce channels. This high level of involvement, coupled with the support of key industry chambers and major media outlets such as Clarín, Cronista Comercial, and Ámbito Financiero, contributed to widespread dissemination and success. Over 80 articles across print, radio, and online media, along with a cumulative reach of more than 7 million users on Instagram, were instrumental in amplifying the event’s visibility.
Demographics and Consumer Behavior Insights
The demographic data from CyberWine 2024 revealed interesting trends. The majority of visitors were over 45 years old, with a surprising 29% of the audience being over 65. This contradicts the conventional wisdom that younger consumers dominate online events, highlighting the broad appeal of CyberWine across age groups. Additionally, there was higher female participation, and mobile phones were the preferred device for searching and making purchase decisions.
The event also provided valuable insights into consumer preferences. Two-thirds of visitors used filters to search for wines, with Malbec being the most selected varietal, accounting for 43.7% of clicks. The Uco Valley emerged as the most popular region, capturing 37% of clicks. This data offers wineries crucial information for refining their market strategies and better understanding consumer preferences.
Extended Exposure and Continued Success
Even after the event concluded on August 11, the participating wineries continued to benefit from ongoing exposure through the CyberWine portal. In the week following the event, an additional 4,092 clicks were recorded, averaging 132 visits per winery. This extended visibility represents significant added value, allowing wineries to continue capitalizing on the traffic generated during the event.
High Satisfaction and Future Prospects
The success of CyberWine 2024 is further reflected in the satisfaction levels of the participating wineries. The event achieved a Net Promoter Score (NPS) of 77.42, a strong indicator of the likelihood that participants would recommend the event to others. Given that an NPS of 50 is considered excellent, this score underscores the high level of satisfaction and support from the wineries.
CyberWine 2024 not only cemented its status as a key event in Argentina’s wine industry but also proved to be an effective platform for increasing traffic, sales, and visibility for participating wineries. With a positive return on investment, a high conversion rate, and extensive media coverage, this second edition has set the stage for continued growth and greater impact in future editions. Participating wineries not only achieved strong financial results but also gained valuable insights into consumer behavior, enabling them to refine their marketing strategies and enhance their online presence moving forward.
Source: Vinetur