DataWeave Releases 2022 Alcohol Report: Digital Alcohol Sales Show 3 Newly Emerging Trends
Seattle, WA
|
July 27, 2022 10:30 AM Eastern Daylight Time
- Price hikes seen as early as December 2021 for 27.5% of the 20,000+ alcohol SKUs tracked
- A switch to healthier, Ready-to-Drink beverages & premium agave-based spirits
- A retailer focus on hyperlocal growth strategies as measured by our Hyperlocality Index
DataWeave, a global leader in eCommerce intelligence and AI analytics, today releases its 2022 Alcohol Report: Digital Visibility Is Reforming the Alcohol Industry. The report provides a data-rich view of online alcohol pricing, distribution, and demand trends across retailers and brands. DataWeave examines price changes and assortment composition by category and retailer in light of pandemic, supply chain, and market-driven economic changes. Analyzing over 20,000 alcohol SKUs, the report offers a Hyperlocality Index to showcase how successfully retailers have employed a hyperlocalized approach to the assortments they carry, along with growth trends in healthier ingredient categories like ready-to-drink (RTD) cocktails and agave-based spirits.
DataWeave’s 2022 Alcohol Report shows price changes by online alcohol category from December 2021 to May 2022, as well as price changes by retailer and state-by-state geography for the same period. It also indicates shifts in product availability. “Looking at these aspects of nationwide online alcohol prices state by state provides insight into why alcohol retailers are moving toward hyperlocal strategies. In addition to ongoing global supply chain constraints and inflation, distinct regions of the country show strong preferences for particular beverages. This has amounted to significant variations seen across the country in price changes and availability,” said Karthik Bettadapura, CEO of DataWeave. “Our state-by-state analysis revealed how online alcohol retailers focused on expanding their geographic reach across the country as delivery laws evolved.”
The 2022 Alcohol Report reflects changing consumer preferences and an increasing interest in health consciousness across categories from December 2021 to May 2022, with ready-to-drink beverages increasing in availability across categories, for example. The premiumization of agave-based spirits such as Tequila and Mezcal resulted in a 30 percent year-over-year sales bump, the report notes, as it contrasts this category with growth in others; there is also a deep dive into Share of Search insights for top brands in the whiskey category.
“With inflation looking to remain at about 9% and dynamic pricing changing the competitive landscape daily, online alcohol retailers will need to focus on improving their inventories by expanding local reach, decreasing their delivery time, optimizing pricing, and improving the customer experience,” said Krish Thyagarajan, President and COO of DataWeave. We see our 2022 Alcohol Report as a bellwether for online alcohol sales trends as inflation continues to dominate the consumer mindset.”
Report Methodology
To come to its findings, DataWeave analyzed 20,000 SKUs, tracking price variations and stock availability across 12 online alcohol retailers and 1,500 brands, dating from December 2021 to May 2022, noting price variations and stock availability by retailer, state-by-state, and by category.
# # #
DataWeave is a leading provider of advanced sales optimization solutions for e-commerce businesses, consumer brands and marketplaces. The AI-driven proprietary technology and language-agnostic platform aggregates consumable and actionable Competitive Intelligence across 500+ billion data points globally, in 25+ languages, with insights to drive performance for more than 400,000 brands across 1,500+ websites tracked across 20+ verticals and ensure online performance is always optimized. Learn more about the power of big data and global level analytics in understanding the rapidly changing retail industry at DataWeave.com.
Contact Details
Meir Kahtan Public Relations, LLC (MKPR)
Meir Kahtan
+1 917-864-0800
Company Website
