A new eCommerce report has concluded that in nearly all verticals except beverage alcohol, the digital realm reigns supreme.
Speakeasy Co., a platform for alcohol brands seeking to navigate the complexities of the digital marketplace, announced its findings in the release of its 2023 eCommerce Report.
This analysis was crafted by Speakeasy’s marketing team that publish case studies on the success of their digital marketing strategies for alcohol clients.
The new report, the company said, offers invaluable insights into consumer behaviour, emerging beverage trends, and the evolving landscape of digital advertising.
In nearly all verticals except beverage alcohol, the digital realm reigns supreme. Beverage suppliers have begun to recognize the transformative potential of Direct-to-Consumer (DTC) eCommerce. This realization has spurred a surge in investment in digital advertising, as brands vie for prominence in a saturated market.
“As consumer preferences and behaviours continue to evolve, we are committed to equipping our current and prospective brand partners with insights and strategies needed to thrive in the ever-changing digital landscape,” explained Josh Jacobs, co-founder and CEO of Speakeasy Co.
Key Highlights from the report Include: Brands investing five-figures annually in digital advertising achieved an impressive average return on ad spend (ROAS) of 92%. Brands that upped the ante with six-figure investments boasted an even more remarkable average ROAS of 254%.
Whiskey emerges as the undisputed frontrunner in all alcohol categories purchased online, generating 745% of total alcohol eCommerce revenue.
Figures from the report show experimental and limited-time releases, similar to the Heaven’s Door Homesick Blues, drive new customer acquisition and capture returning purchasers.
The report delves into the evolving landscape of consumer preferences, revealing the shifting preferences for premium products and artisanal spirits. Brands will see the culmination of extensive research and analysis, with actionable strategies to elevate their online presence and drive meaningful growth.
“With this being our first annual recap report, we’re pleased to showcase the amount of research, knowledge, and dedication that goes into our day to day work at Speakeasy,” said Michael Bowen, co-founder and COO of Speakeasy Co.
“Success in the beverage alcohol space takes a great deal of collaboration when thinking of new, unique ways to stand out against competitors.”
