How a 200-year-old wine shop uses virtual events to engage 100+ customers who place orders ahead of time and ask questions in the chat
was founded as a grocery store in 1820 and has survived the Civil War, the Great Depression, prohibition, two world wars, and the Great Recession.
Whether these stories are historical fact or fiction, Acker is an example of how a business can bend without breaking. Today, the wine shop is just a portion of its parent company Acker Merrall & Condit, a global auction house of fine and rare bottles of wine and spirits. In an email to Business Insider, the company said its first quarter auction revenue was approximately 300% more than its nearest competitor, capturing nearly 60% of market share of major auction houses.
Kapon explained how the company has shifted its business online during the coronavirus pandemic and gave his advice to entrepreneurs for outlasting a crisis. Courtesy of Acker Merrall & Condit Online auctions aren't new for the company, but have shifted from an optional way to connect with distant customers to become the livelihood of keeping the auctions going through the pandemic. Since switching to a virtual format in April, Acker had 25% more bidders at its New York auctions compared to last year.
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