How Spiritrade is helping an industry in crisisBy db_staff
While the drinks industry around the world is still beleaguered by Covid-19, Brexit and tariffs, Spiritrade is taking action to mitigate these problems.
With the onset of the global pandemic, countries around the world have closed their borders, trade routes have been disrupted and entire industries have been devastated.
However, despite the resurgence of the virus globally, new strains of the virus being found, the changes of global leaders, regional trading relationships and the roll out of vaccines, the global drinks market is evolving and demonstrating its resilience to the new world that we find ourselves in.
Since Spiritrade relaunched last November, there has been an increasingly large number of brand owners and stockholders embracing the marketplace as an alternative revenue stream in order to release capital back into their businesses to survive in this very challenging climate. Based on this, in December alone Spiritrade saw in excess of £2.5 million worth of trades with over £4.5 million of active bids.
Andrew de Lavis-Trafford, head of trade at Spiritrade, says: “We are uniquely positioned in this market to be able to connect buyers and sellers on a global stage. We have had an unprecedented demand from our members for stock requirements which we have been able to fulfil due to our global network of sellers on the platform. We anticipate trade on our marketplace will continue to grow significantly due to the current trends and solutions that we are providing.”
This has been driven by brand owners and stockholders from continents such as South America, Africa, North America and Asia, identifying the Spiritrade Marketplace not only as a way of trading goods into markets that were previously inaccessible to them, but of also trading goods ‘trapped’ locally due to the global pandemic. As a direct benefit of this, companies have been able to lower their carbon footprint.
Further challenges have also presented themselves as a result of Covid-19. Andrew says: “Previously a global transaction could take up to four weeks to be completed; this has now doubled to eight weeks or more. This is due to warehouse teams being halved, which has led to a global shortage of containers and cargo ships, as fewer vessels are being docked due to ports not having enough capacity to unload them.”
However, Spiritrade has risen to this challenge by expanding its network of hubs around the world to help facilitate the trade of drinks globally in a more seamless and cost effective way.
For more information on Spiritrade and its services, visit: spiritrade.com