Whisky sales soar 85% on Speakeasy

Alcohol e-commerce platform Speakeasy reported a rise of 85% in whisky sales in 2023 as drinkers spend more per order.

The US online retailer revealed the findings from its 2023 year in review report, which offers insight into consumer behaviour and beverage trends.

The analysis is taken from the company’s marketing team and data-driven insights.

The report found that more people are spending money on whisky than any other spirit, with the category generating 75% of total alcohol e-commerce revenue on Speakeasy’s platform. Vodka was second with 7%, while Tequila was third with 4%, followed by gin (2%).

The average whisky consumer spent an additional US$30 on whisky in 2023, compared to last year.

Josh Jacobs, co-founder and CEO of Speakeasy Co, said: “As consumer preferences and behaviours 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.”

The report outlines the digital world’s influence is starting to take control of the online alcohol sphere – with beverage suppliers recognising the ‘transformative potential’ of direct-to-consumer (DTC) e-commerce.

For one, brands are investing five figures annually in digital advertising, which have given them an average return of 92% on advertising spend. Brands that invested six figures, meanwhile, into digital advertising, then saw a much greater average return of 254% – 10 times more online revenue than what those who put in five figures achieved.

The report also showed new customers and returning ones are both enjoying experimental and limited-time releases, similar to Heaven’s Door Homesick Blues. The bundle includes includes Bob Dylan’s book, Bob Dylan: Mixing up the Medicine, packaged with the his Bourbon.

Along with bottles, brands are focusing more on ‘unique unboxing experiences’, with greater value now placed on merchandise. The approach is said to not only add more value to purchases, but bring them a greater sense of exclusivity and luxury.

In fact, the report highlighted a 729% year-over-year increase in revenue generated from merchandise sales. These includes items such as premium glassware, cocktail accessories and limited edition collectibles.

Michael Bowen, co-founder and chief operating officer of Speakeasy Co, added: “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.

“Success in the beverage alcohol space takes a great deal of collaboration when thinking of new, unique ways to stand out against competitors.”

In the US, e-commerce sales are rising at a slower rate than expected, but could grow by 7% in value between 2023 and 2027 – according to data from IWSR Drinks Market Analysis.

To eliminate manual processes and to make managing direct-to-consumer rules simpler, Speakeasy partnered with online technology company Drinks last year.

At the start of 2023, the platform also gained US$6.8 million in funding.