Managing inventory for a wine store can feel a lot like you’re physically juggling all those bottles!
You need to track stock levels, always keep your customers’ favorite wines in stock, and stock new options… but also not overstock anything. And don’t forget to keep track of seasonal products!
Overwhelmed yet?
We’ve worked closely with many wine store owners in the past, and we know the struggles you’re facing. We’ve also seen firsthand the benefits a store can experience once it has a solid inventory system in place. Using the right tools and processes can streamline your operations, reduce waste, and keep your customers happy.
This post will cover best practices and top tools for inventory management for your wine store. Whether you're a small independent wine shop or a larger retailer, these tips can help you optimize your inventory management process and improve your bottom line.
Why Do You Need a Wine Inventory System?
Every store needs an efficient inventory management method, but this is especially true for wine shops. Wine shop inventory has unique challenges not found in other industries.
Your product is expensive and fragile, requiring careful and specific handling and storage. You also have to worry about a range of legal requirements surrounding the sale and storage of your products that the owners of a t-shirt shop wouldn’t need to concern themselves with.
Related Read: Opening A Wine Store: 5 Steps to Guarantee Profit
Implementing a wine inventory system can help you overcome these challenges and streamline your operations.
One of the biggest benefits of a wine inventory system is accurate tracking. With a good system in place, you can track inventory levels and ensure accurate counts. You can also reorder stock when necessary and avoid losing sales when you run out of stock of a popular item.
A wine inventory system can also help you to improve organization in your wine store. Strong inventory processes help you easily track varieties and vintages, making it easier for you and your staff to locate products for customers. Additionally, by tracking sales data and analyzing trends, a wine inventory system can help you forecast demand and optimize your purchasing decisions. You’ll always be ready for seasonal shifts and changing markets when you have the right systems in place.
Finally, a wine inventory system helps you comply with local laws and regulations. Many wine regulations require detailed inventory tracking and record-keeping. By implementing a wine inventory system, you can ensure that you meet these requirements and avoid any legal headaches.
Best Practices for Wine Inventory Management
Before we dive into our list of tools for wine inventory management, let’s examine some best practices you should follow to manage your inventory like a pro.
- Keep Accurate Records:
If you don’t have a solid handle on the bottles you have in stock, you’ll have a hard time keeping track of what you need to restock, how quickly things are selling, and what you have on hand for customers to purchase. Consider using inventory management software to help you keep track of the wines you have in stock, their quantity, and their location within your shop. - Categorize Your Inventory:
Grouping your wines by type, region, or grape variety can make it easier for you to find the wines you need quickly. Categorizing your inventory on the shelf can also help your customers navigate your shop and find what they want. - Implement a Rotation System:
To ensure you always offer fresh, high-quality wines, implement a rotation system that involves moving older bottles to the front of your displays or shelves and newer bottles to the back. You can use this type of system to prevent spoilage and reduce waste. - Monitor Inventory Levels:
Keep a careful eye on your inventory levels at all times. If you don’t have access to real-time data, you risk running out of stock of a popular wine right before a busy night, or over-stocking a popular seasonal item and getting stuck with overstock. - Train Your Staff:
Lastly, ensure every staff member is trained on your inventory management system. Staff should know how to track inventory levels, rotate bottles, and restock shelves. Additionally, the staff should know the best ways to search your system to quickly and efficiently find requested items for customers.
KORONA POS
KORONA POS is a well-known point of sale provider that offers cloud-based solutions that work well for multi-store chains and larger businesses. In addition to retail POS solutions, KORONA also works with quick-service businesses like bakeries and salons, and provides help with ticketing for museums and amusement parks.
Some KORONA features you can use to run your wine inventory processes include:
- Advanced inventory tracking
- Point of sale that integrates tastings, bottle sales, and restaurant table service
- Custom wine delivery service capabilities
Wine shops that also serve wine by the glass in-store or are attached to a restaurant may get the most out of KORONA POS.
Pricing: KORONA POS’s contracts start at $59 per month.
Bottle POS
Bottle POS is a point of sale and inventory management tool designed specifically for wine and liquor stores. Our solution includes hardware, software, and technical support, giving you the full suite of tools and services you need to manage inventory with ease and grow your business. We also offer solutions for online wine and liquor sales, allowing you to take online orders.
Some of the features we offer that can help you build a foolproof wine inventory system include:
- Automated invoicing and receiving, eliminating manual data entry
- Dual pricing options to offer a discount to customers paying with cash
- Intelligent sales reporting to help you identify worst and bestsellers
- Loss prevention features to minimize shrinkage
- Built-in customer loyalty features
- Case break inventory management
- Age verification for quick, simplified checkout
If you own a wine store with a large inventory and are looking to grow your business and gain a loyal customer base, Bottle POS can help you get the most out of your store.
Pricing: Our solutions are custom-built per your needs. You can get a custom estimate using our build and price tool.
POS Nation
POS Nation provides a point of sale solution for various industries, including liquor stores, convenience stores, and grocery stores. POS Nation’s solution can be used to improve checkout processes, streamline your business, and provide your customers with excellent service.
Some features wine store owners can benefit from include:
- Mix and match pricing to create custom bundles
- Case break inventory
- Simplified ordering and vendor management
- Robust inventory and sales reporting
Pricing: POS Nation’s pricing is custom and can be calculated using their online pricing tool.
Fishbowl
Fishbowl offers a diverse suite of solutions to assist businesses with manufacturing, warehousing, and time-clocking, in addition to point of sale solutions. Wholesalers, cannabis sellers, and pharmaceutical companies can work with Fishbowl, as well as breweries and wineries.
Some Fishbowl features that may assist with managing wine inventory include:
- Scanned, automated inventory processing
- Automated reorder points for bestsellers
- Automatic price adjustments based on cost, order quantity, promotion dates, and more
If you own a winery looking to distribute your product, as well as selling it in-store, Fishbowl might be the best solution for you.
Pricing: Fishbowl does not list pricing information on their website.
Optimize Your Wine Inventory System
If you want your wine store to run smoother than a well-aged cabernet, you need to implement the right inventory management processes and tools. This post's best practices and tools are a great place to start.
However, to get the most out of your inventory management system, you need to partner with a point of sale provider that understands the ins and outs of running a wine store — a provider who can help you with the specific challenges your business faces daily.
Bottle POS was designed and developed specifically for liquor and wine store owners. We understand the challenges of expensive, fragile inventory, a wide range of regulations, and more.
To see how Bottle POS can help you streamline your store’s operations and grow your business, schedule a software demo today!
