The Top 5 Ways Drizly Left the Door Open for Innovation

When the catch and kill of Drizly sent shock waves throughout the CPG industry last week, it left a massive gap for innovation. Being a pioneer and first mover to the market gave Drizly a massive percentage of the marketplace. One question automatically came to mind first: How well is the e-comm sector actually doing?

Recent data: Leading International Data Institutes for the  e-comm sector highlight the urgent need for innovation, as the industry enters a phase of stabilization post-Covid surge.

With global sales projected to reach U.S. $40b by 2027, the anticipated +4.5% value CAGR from 2022-27 represents a significant deceleration from the extraordinary +31% CAGR recorded from 2019-21. This leaves room for innovation and outside the box thinking to expand on the opening in the sector to meet consumer demands.

After the pandemic boom, e-comm value saw a slight correction in 2022 (-2%) as restrictions in most markets were removed, and shoppers returned to the traditional on-trade and to bricks-and-mortar retail stores. According to the findings, while 24% of alcohol buyers in 2022 said they had made online purchases in the past six months, in 2023 that figure declined to 17%, accompanied by an increase in the use of physical supermarkets/grocers, and the on-premise.

Enter virtual shopping: The retail landscape is on the cusp of a revolution as e-commerce embraces innovative technology, ushering in an era of virtual shopping. Virtual shopping is no longer about convenience; it is now about creating immersive and interactive experiences that bring the store to the customer, revolutionizing the way we shop online.

With the advent of virtual clientele, virtual placement, and 3D virtual storefronts, virtual shopping is set to redefine the online retail experience. This groundbreaking technology, fueled by augmented and virtual reality is poised to transform the future of retail by offering a seamless and engaging shopping experience from the comfort of our homes.

Now it becomes a matter of who is first to market and who perfects the process first.

The Top 5 Ways Virtual Shopping Will Transform the Future of Customer Interactions

Number 1: Private Viewings and Tastings

You may be thinking, how in the world would you virtually taste something privately? Enter E-Comm sites such as Flaviar.com, InGoodTasteWines, Saucey and Priority Experiences and you have an instant home run. Pairing these services with leading retailers across the country could open a wildly unique and cool process. Design the retail experience with virtual rooms that showcase your products and unique items that customers can truly interact with.

Number 2: Chatting Virtually One on One

Create your own way of connecting and chatting with your customers to boost engagement. Coming from a Digital and Trade Marketing background, I can understand firsthand how difficult it is to corelate marketing efforts directly to ROI. From digital billboards to Trade Shows, no one can really put their thumb on an exact ROI. This is where that paradigm shifts. To give your customers a more exclusive feel, you can assign a personal shopper to each customer as they browse through the product offerings, and how they landed into your virtual store. Your personal shopper will help them choose products, pair, and upsell, as well as provide tips and education. This is a great way to add personalization to your virtual store, notably in higher end establishments that offer white glove service.

Number 3: Showcase your Unique Selection Tailored to Each Individual.

Customers are not just looking for the cheapest price, they are looking for unique experiences with new and unique product selections. A great aspect of a virtual store is the ability to capture customers beyond the traditional e-comm store front. Customers are immersed in an endless store front, where you have the ability to truly capture their share of mind and business. This capability enables the retailer to capture otherwise unreachable customers. Global markets and clients that were prior relegated to their proximity, can now instantly transform into your storefront. Reach beyond your local consumer base, and into a global untapped consumer base. The ability to market and reach a wider audience by utilizing your creativity and vision.

Number 4: Automate Beyond the Traditional Methods.

Gain the ability to Educate, Engage, and Convert, while collecting data. Generate and create sales through your customers by including unique virtual store front experiences, beyond your actual storefront square footage. A section and immersive experience dedicated to all categories. Suppliers will line up to create a unique selling story behind their distilleries, vineyards, and methods to creating their products. The back-end data collection and up-charge for suppliers to convey their unique messaging is endless with no additional overhead.

Number 5: . 24/7 Conversations

Connect to an interactive chatbot to answer customer enquiries in real time. Prepare any frequent questions and have a live chat feature in case of more complicated inquiries. Your customers will appreciate getting feedback as quickly as possible, which will make their experience with your virtual store better.

Private Barrels - Shifting the Importance From the Mash-Bill to the Wood.

For years, whisky collectors have relied on the mash bill and aging process to determine the quality of their spirits. But times are changing, and a new trend is emerging that you don't want to miss out on.

More and more collectors are turning their attention to the types of barrels and wood species used in the aging process, realizing that it can have a significant impact on the flavor and aroma of their whisky more so than the mash-bill.

Aging in different types of unique wood has been no secrecy and continues to become an ascending trend as private barrels continue to rise.

However, this wood species in particular is known for its rich aroma, complexity of flavors, and golden-brown hue with delightful sweet back end notes.

The wood species that is causing a stir in the industry:

Amburana!

Known for its distinctive aroma of cinnamon, vanilla, and spices, amburana has long been used for aging alcoholic beverages like cachaça (a Brazilian white rum made from sugar cane); and now, it's making waves in the whisky world.

Amburana whisky barrels are gaining popularity at an astonishing rate, and insiders predict that this year, 23'-24', will be the tipping point when it becomes mainstream.

Restauranteurs are already embracing this trend, using amburana whisky in a variety of ways, from apéritifs to cocktails and even desserts.

The clock is ticking, and you don't want to be left behind. Don't overlook the power of the aging vessel in shaping the character of your whisky. Join the growing community of whisky connoisseurs who are embracing the use of amburana barrels. Experience the rich aroma, complexity of flavors, and golden-brown hue with delightful sweet back end notes that only amburana can deliver.

The whisky industry is evolving, and if you want to stay ahead of the curve, now is the time to take action. Don't miss out on this exciting shift in the way whisky is aged. Make sure you're part of the amburana revolution!

How Luxury Matters

When it comes to luxury goods, the word "luxury" often comes with a hefty price tag. From designer handbags and fine jewelry to luxury cars and yachts, the products in this category often signify exclusivity and status. One such product that falls under the luxury category is luxury whisky.

Luxury whisky, also known as premium or ultra-premium whisky, is a type of whisky that is aged for longer periods and made from the highest quality ingredients. These whiskies are often priced higher than their average counterparts and are only produced in limited quantities, making them a rare and exclusive product.

The ideas of luxury goods and luxury whisky are undoubtedly linked, and there are several reasons for this correlation. Below are some of the key factors that link luxury products and luxury whisky:

1. Exclusive nature: Luxury goods and luxury whisky products share an element of exclusivity. Both are produced in limited quantities, which makes them rarer and harder to come by. This exclusivity adds to their appeal for affluent consumers who are looking to stand out from the crowd.

2. Quality ingredients: The quality of the ingredients used to make a luxury good or a luxury whisky is always of the highest standard. Whether it's the leather used on a luxury handbag or the barley and water used in the production of a luxury whisky, every element is carefully selected to ensure premium quality.

3. Craftsmanship: The making of a luxury good or luxury whisky requires a great deal of craftsmanship and expertise. This expertise is often honed over decades or even centuries, with artisans passing down their knowledge and skills from one generation to the next.

4. Brand value: Luxury goods and luxury whisky both come with a strong brand value that is built over time. Brands that produce these products are often associated with excellence, quality, and prestige, making them desirable for consumers who value these traits.

5. Investment potential: Investing in luxury goods and luxury whisky products can be a financially sound decision. These products often appreciate in value over time due to their limited availability and high quality. Many whisky collectors, for instance, have seen substantial returns on their investments in rare, vintage whiskies.

When it comes to luxury, there are a few things that immediately come to mind - luxury watches, luxury cars, and luxury whiskey. While each of these things is unique in their own way, there is a common thread that links them together.

The link between luxury watches, luxury cars, and luxury whiskey comes down to exclusivity, craftsmanship, quality and status. All of these products are designed for those that have a discerning taste and are looking for a little something extra.

The “something extra” that is flourishing are: watches, whiskey and cars. Luxury cars are an extension of the owner's personality. They are a statement piece that shows their appreciation for design, engineering, and craftsmanship. These cars are typically produced in limited numbers, making them highly exclusive and sought after by car enthusiasts.

Watches are the epitome of timepieces. They are crafted from the finest materials and designed to last for generations. Each watch is a statement piece that is unique and exclusive, making it an item that is highly coveted by collectors.

Luxury whiskey is the ultimate indulgence. It's a drink that is synonymous with class and sophistication, and it delivers on both taste and quality. These whiskies are crafted using the finest ingredients and aged to perfection, making them a luxurious treat for the senses.

Luxury goods and luxury whisky share several key traits that make them desirable to affluent consumers. From their exclusive nature and quality ingredients to their craftsmanship and brand value, these products represent a high level of craftsmanship and prestige that is appealing to many consumers. As such, they will continue to be sought-after by those who value the finer things in life.

In summary, luxury watches, luxury cars, and luxury whiskey share many commonalities. They are crafted with precision and care, using only the finest materials available. These products are a symbol of status and exclusivity and appeal to those who value craftsmanship, quality, and elegance.