B2B marketplace Spiritrade has branched out into beer, wine, soft drinks and CBD-infused drinks after noting a strong demand among its members.
31Dover co-founder Jimmy Metta launched the online trading platform six months ago to allow wholesalers and retailers to sell excess stock and plug gaps in their ranges.
He felt that the drinks industry is “antiquated” and he set about creating an online trading community that uses “smart technology” to bring it into the modern era.
The London-based firm reported that it now has a membership base of more than 200 members from 29 countries, with roughly two-fifths coming from the UK.
Members include brand owners, wholesalers, large supermarket groups and traders.
It now allows buyers to trade all drinks categories, while it also permits targeted geographical markets, allowing brand owners to control where their stock goes. Members are able to exclude certain markets, as per their requirements.
There is also a new multi-currency function to help members avoid foreign exchange charges and trade within the global network.
Metta told DRN: “Spiritrade has, in a very short span of time, become an indispensable trading tool for drinks businesses, enabling them to buy and sell stock far more efficiently by accessing new markets.
“Brand owners, cash and carries, retailers and wholesalers are now transacting on a daily basis using Spiritrade. Sellers are achieving higher prices and now have the ability and resources to shift surplus stock.
“Purchasers are buying stock lines at more competitive rates. Our aim is to make the industry run in a more efficient and secure manner, connecting buyers and sellers globally.”