With growing consumer interest in signature cocktails and craft beers, today’s retailers must meet the needs of customers while utilizing innovating initiative’s that’ll help them stand out in the market. In order to achieve this, retailers must build a good understanding on the consumer trends in the liquor industry. Additionally, picking the right wine and liquor point-of-sale software can define the customer experience and influence how likely they may be to return. Your POS software needs to be easy to use, quick to learn, and most of all, it must be effective. Below we’ve shared five current retail trends that are appearing in the alcoholic beverage industry and outlined proposals that can help you gain a distinct competitive advantage within the current retail landscape.
1. Millennials will continue to represent nearly half of the liquor industry
Millennials make a major impact in the beer and spirits industry, so it is necessary for retailers to cater to these specific customers and utilize initiatives that will make shopping easier for them. Millennials are often on the look-out for special events, special drinks and special pricing, so by meeting the needs of this Gen-Y market you can build traffic, sales and loyalty for your business.
2. Spirit brands opt to say ‘yes’ to social media
Social media provides an excellent opportunity for alcohol retailers to connect with consumers through engaging Facebook and Twitter posts and keeps the conversation and the experience ongoing. Alcohol brands such as Jack Daniels, Jim Bean and Ciroc are well known for their impressive advertising and marketing campaigns by taking a storytelling approach to social media instead of a selling approach. By sharing powerful content, imagery and videos, retailers can promote brand awareness and community engagement.
3. Commemorative and Limited edition products keep consumers coming back
Big name spirit companies know how important it is to stay timeless while constantly innovating themselves. Brands such as Heineken, Southern Comfort, Absolut and Miller offer limited edition product designs as well as complimentary gifts such as cocktail shakers, bottle stoppers, or glassware with their alcohol in order to entice shoppers. Offering limited edition products to customers is a great substitution to enhance the brand and to commercially stimulate niche channels.
4. “Skinny” drinks have captured the market
Today, a majority of consumers have become more concerned about the effects that excessive alcohol consumption can have on their health and physical appearance. As a result, more brewers have introduced low calorie beers and cocktails into the market. Many of the industry’s major brands including Skinnygirl and Budweiser have produced a product that meets the needs of these health- conscious customers.
5. Mobility continues to improve the customer experience
Mobile commerce is a great opportunity for retailers to provide meaningful customer service beyond the check-out line. With mobile POS, you can track inventory, email receipts, check out customers quickly, offer discounts and promotions, and capture detailed customer information.
The spirits industry is ever-evolving, so it’s important to stay educated about the latest trends in the market and take the necessary steps to provide an enjoyable shopping experience for your customers.