Report Highlights BevAlc Trends, Insights
Speakeasy Co., a technology company and e-commerce platform for the beverage alcohol (BevAlc) industry, has previewed some key insights from its “2023 E-Commerce Year In Review” report. The report highlights key insights into consumer behavior, emerging trends and the evolving digital advertising landscape.
In nearly all verticals except BevAlc, the digital realm reigns supreme, Speakeasy said in a media release. Suppliers are recognizing the potential of DTC e-commerce models, which is creating a surge in digital advertising investments as “brands vie for prominence in a saturated market.”
Key insights from the report:
- Revenue generated from merchandise sales increased 729% year-over-year.
- Whiskey was the undisputed frontrunner over all alcohol categories purchased through Speakeasy’s platform, generating 75% of total alcohol e-commerce revenue in 2023.
- Whiskey orders had an average order value of $162, a 24% increase year-over-year.
- Figures from the report show experimental and limited-time releases drive new customer acquisition and capture returning purchasers (e.g., glassware, cocktail accessories).
- Brands investing five figures annually in digital advertising achieved an average return on ad spend (ROAS) of 92%.
- Brands that invested six-figure investments boasted a higher average ROAS of 254%.
The report also points to a shifting preference for more premium products and artisanal spirits.
This analysis was produced by the Speakeasy’s marketing team. The company enables BevAlc brands to sell directly to consumers from their own respective online storefronts through its centralized fulfillment model.
