The fastest growing segment of wine drinkers is in the age bracket of 20-35 and they are, we believe, currently the most poorly served. We believe they are motivated by quality and expect convenience, control and instant gratification.
We believe it is a market wide open for disruption and modernisation with only just over 11% (£800m) of the wine consumed at home (£6.6bn) being bought online. From our research, it suggests that large segments of the target market are interested in learning more about wine and are prepared to pay a little bit more for better quality. In our view, most are put off by a dated and complex offering from traditional suppliers.
sippWINE (sipp) combines great wine, direct from winemakers, and smart technology to make quality wine accessible and to remove the pretence around wine. It has developed a solution that combines quality, technology and convenience in a proposition that could be compared to the likes of Deliveroo, Graze, Uber and Hello Fresh.