Speakeasy Co. Unveils 2023 eCommerce Year In Review: Key Insights on Consumer Behavior and BevAlc Trends

SAN DIEGO, May 8, 2024 /PRNewswire/ -- Speakeasy Co., the leading eCommerce platform for alcohol brands seeking to navigate the complexities of the digital marketplace, announces the release of its 2023 eCommerce Report. This comprehensive analysis was crafted by Speakeasy's expert marketing team, who consistently publish case studies on the success of their digital marketing strategies for alcohol clients. The new report offers invaluable insights into consumer behavior, 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 behaviors 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." Said 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."

The 2023 Year in Review eCommerce Report stands as a testament to Speakeasy Co.'s unwavering dedication to innovation and industry leadership. With its wealth of data-driven insights and forward-thinking recommendations, the report is a vital resource for beverage brands navigating the dynamic landscape of eCommerce.

For more information and to access the full report, please visit Speakeasy's website. Brands interested in booking a meeting with Speakeasy Co. can email [email protected].

About Speakeasy Co.:

Speakeasy Co. is a technology company and eCommerce platform for the Wine & Spirits industry that ships beverage alcohol brands directly to consumers. The centralized fulfillment model enables brands to sell directly to consumers from their own respective online storefronts without disrupting the three-tier system. Brands are given the opportunity to own their growth and user experience from beginning to end, in addition to owning their data and analytics of their target customer.

To book a meeting with our partnerships team, please email [email protected] and check out our Instagram and LinkedIn.

SOURCE Speakeasy Co