Even though two-thirds (over 66%) reported higher sales in 2018 compared to 2017, only 42% of respondents see independentliquor stores as viable in the long term, a new study from Drizly reports.
In another short versus longer-term contrast, independent retailers rely on their own sales data more than any other factor for short-term inventory decision-making (34%), while trend reports rank fourth (14%). That gulf comes as a surprise, at a time when trends are taking hold faster and having more lasting impact than ever before. Case in point: this year’s spiked seltzer and wellness beer crazes, Drizly says.
Asked which products in each major segment stand to fuel growth the most, independent retailers see organic and natural (cited by 25% of respondents) putting a thorn in rosé’s side (17%), in beer, it’s still IPA all day for growth (42%) and in spirits, the bourbon boom shows no signs of letting up (40%) – at least not in retailers’ minds.
Somewhat surprisingly, 70% of retailers cited social media as the most effective marketing tactic for making and retaining customers, ahead of in-store events (64%) and offering delivery (62%). It may indicate the growing influence of millennials in business planning.
Less than one third (32%) of independent retailers said that CBD-infused beverages stand a chance to meaningfully grow business, while 22% see them as a possible niche at most. Fifteen percent reported not being familiar with CBD-infused beverages at all.