Spiritrade: Xmas Spirit

Spiritrade helps brands and members tackle the challenges of rising supply chain costs and prices in the run-up to the festive season

Another year, another build-up to Christmas. The trees have begun to lose their leaves and frost has started to settle on windows as the mornings grow colder.

But what challenges might lie ahead as excitement builds for the fireside drinks that are as indispensable a part of December as mince pies or carols?

Stock shortages and supply chain issues are currently plaguing the drinks sector, like The Grinch stealing Christmas, at a time when we most look forward to a little luxury. In light of this, cost pressures are increasing, and low supply means prices are being inflated for the privilege of having stock.

Brand owners, distributors and traders are being forced to analyse the global market, tracking pricing and availability on a wider scale.
Assisting its brands in doing just this is Spiritrade, a B2B marketplace introduced in 2019 as a daily trading tool for the global drinks industry. The online platform enables members to view pricing fluctuations from various buyers and sellers, with real-time updates. Spiritrade gives brands complete transparency of pricing, with a global outlook on the industry segmented by country and availability.
“Similar to the stock market, live updates give customers information on supply and demand,” says Claire Chin, head of the company’s global marketing

89and business development. “This information is key so that brands are able to make more informed decisions for various markets. Our goal is to keep our members informed with the very latest data while being able to trade in a safe trading environment.”

Not only does the platform offer real-time updates on pricing, but Spiritrade can also guide customers by advising on previous sales of the same product or similar equivalents.
“As Spiritrade is B2B, our platform provides brand data, insights and a global outlook on their brand, and how they are trading,” says Chin.

“In turn businesses are more informed and able to use these insights for furthering their reach, improving their price, range or distribution.”

Clear Outlook
In light of the current stock shortages and supply chain constraints in the industry, a clear and transparent outlook on the global market could be a make-or-break decision for brands struggling against these challenges.

“Customers are able to view and analyse competitor brands that are also on the platform. At Spiritrade, we aim to help all businesses by adding new revenue channels for buyers or sellers,” she adds.

How will Spiritrade help brands to recover from the current increase in prices and benefit them in the long run? Now visible in 80 countries and populating more than £110 million of inventory, Chin believes the company’s dedication to transparency allows brands to thrive despite the ongoing challenges.

“Our ethos of good business means we strive to be as transparent as possible and give our customers an outlook on the global drinks trading market. Spiritrade is an additional revenue stream for our customers, and brand owners have already told us how we are saving them heavy costs in marketing,” says Chin. “We give brands a cost-effective way of managing their wholesale trading.”