Slurp Wine Announces a Stunning Quarter of Growth
Building on an extremely rapid start to the year, Slurp.co.uk has continued its momentum in Q2 2010. Sales sustained their nosebleed trajectory with another 2000+% quarterly growth rate year on year. And as with Q1, on a sequential basis Q2 showed almost a 100% quarter over quarter growth rate.
In Q2 2010 sales growth was driven by a number of factors. The most important was the continued development of the Slurp Fine Wines division under the strong leadership of Alan Macdonald. The division continues to win important new clients who are attracted to Slurp Fine Wines' web-friendly service and Alan's personal 'hands on' approach. In a quarter in which the FTSE 100 declined by -13.4%, fine wine prices (according to the Liv-ex 100 index) increased by +13.9%. This, coupled with the increase in UK Capital Gains Tax, continues to drive investor interest in fine wines as an asset class. We have been very fortunate in acquiring a number of highly sohisticated financial services clients who are looking at wine as a serious investment at this time. Add in a very strong 2009 en primeur Bordeaux campaign (the company's inaugural one) and the performance of the fine wines division becomes readily understandable.
But excellent progress was also made in the retail sales division during the quarter. Products available for sale passed the 5,000 mark. Importantly, Slurp launched an extremely exciting range of specialist beers and further deepened its range of spirits. The range available for purchase in the extremely popular 'Slurp Express' next day delivery service increased to almost 900 products, and these continue to gain in popularity with Slurpers.
Finally the company's export business has also shown strong growth - with shipments to Hong Kong in particular proving buoyant in Q2.
So overall it was another stunning quarter and we are grateful to everyone, suppliers and customers alike who have helped us. But there will be no long summer holidays at Slurp. We have the launch of our I Phone app in the next few days, plus numerous (top secret!) initiatives on the marketing front as we build up to what we hope will be a tremendous year end.
But at half time in 2010 we feel that we are not behind, unlike a certain football team ....