Not Sure About Integrating Online Liquor Ordering?
If there’s anything we’ve learned in the last two years, it’s that people love online ordering. The convenience of simply tapping a few buttons and getting whatever you desire delivered right to your door is something that consumers have gotten accustomed to- and it’s not going away anytime soon. In fact, we have seen customers increase their sales by over 25% after implementing online ordering into their operations.
Clearly, online food ordering has exploded since 2020. But what is one to do when they realize they don’t have the wine to pair with their meal? Online liquor ordering has opened up a world of opportunities for liquor businesses to reach their customers quickly, efficiently, and sizably.
The liquor industry is one of the few industries that did not take a major hit during the pandemic, but in fact saw a boost in sales while restaurants were closed. This was because they adapted to the evolving economic landscape and started offering online ordering options. Now, even as bars and restaurants have opened back up, the advantages of ordering liquor from the comfort of their own home has encouraged consumers to keep this trend alive. With liquor consumption being at an all time high and online ordering taking off, liquor businesses are in a great position- but you need to be sure you have the tools you need to stay ahead of competitors.
Five Easy Ways Online Liquor Ordering Can Elevate Your Business
1. Reach a Larger Audience
Gone are the days when the only customers you could reach were the ones physically entering your storefront. The online ordering market is expected to grow to $43 billion by 2025. The demand is extremely high for mobile ordering options. As a liquor retailer, you have the opportunity to reach a massive market by providing online liquor ordering- much higher than the amount of foot traffic you could maintain in a store. Another bonus is the widespread advertising that third-party delivery services can provide. It allows people to discover your business simply by scrolling through an app, then become loyal, raving customers.
Over the main markets, alcohol eCommerce value went up by more than 12% in 2019 and then by more than 43% in 2020 during the peak of the pandemic. Post-pandemic, it has continued to steadily climb. One thing is clear: consumers are embracing the convenience and ease of online liquor ordering, and providing suppliers an eager, plentiful market.
2. Select Exactly What Inventory to Showcase
The liquor industry has unique needs when it comes to online ordering. Some products are suitable for ecommerce, and some are better suited for in-store shopping. That’s why it’s vital for your business to find the best liquor store POS that’ll fit your unique needs.
With an eCommerce website or by using third party platforms, you can showcase items that customers would be less likely to think about purchasing if they were shopping in person. Items that you want to promote are easy to push out, simply by listing it first on your website or third-party app. Want to create a bundle for a certain brand of wine, or a promotion for vodka? That’s easy to do with online liquor ordering. You can feature different products based on the season- like eggnog during the holidays- and drive up sales for those items.
But not every product you have is one that you’d want to sell online. High ticket items, such as allocated whiskey or bourbon, are best sold in-store and not on the web. The good news is that it’s easy to set a reserve for in-house inventory with certain online ordering service providers. As a liquor store owner, it’s important for you to find a liquor store POS that gives you the capability to distinguish such items.
Some in the restaurant industry have seen wild success by implementing online ordering- such as raising their profits by over 30%– and the beverage industry is next. The ability to showcase your unique inventory in one convenient place, set a reserve for in-house items, and decide what exactly goes on your site are huge benefits of online liquor ordering, and an opportunity for an industry with as distinctive needs as the liquor industry to raise revenue.
3. Increase Revenue
We’ve already established how plentiful the market is, and how much the alcohol eCommerce industry is expected to grow in the next decade. This provides a huge opportunity to increase revenue for your business. The International Wine and Spirits Record (IWSR) says that the American alcohol eCommerce market value grew by nearly 80% between 2019 and 2021, opening up a whole new way to make profits as a liquor business.
Every retail store attempts to increase their revenue by upselling. Upselling can generate revenue tremendously, help you build better relationships with your customers, and boost customer loyalty. The same goes for the alcohol industry- by upselling, you can grow your business without ruining your brand.
Online ordering platforms and liquor store POS systems make it incredibly easy to upsell, create add-ons, customizations, and combos. These techniques are very useful to the alcohol industry, where many products could easily be bundled together. Say you’re a liquor store selling 19 Crimes Snoop Dogg Cali Red, and you also sell the Cali Rose. On an online ordering platform, creating a combo of these two wines would be simple and easy, or you can offer gift baskets during the holiday season. Doing so would undoubtedly result in an increased sale of wine.
4. Create a Loyal Customer Base
Online liquor ordering can give your liquor store the chance to create loyal customers and boost ROI. This is because the customers who may have never heard of your business before now have the chance to discover your store, purchase from it, and become recurring customers. The data shows that people who place an online order with a restaurant will visit that restaurant 67% more frequently than those who don’t. The same trend is present within the liquor industry.
By integrating a robust liquor store POS software to gather vital customer data, manage order requests from multiple channels seamlessly, and monitor the best performing channel for orders received, you will be setting your liquor store up for successful online ordering. Tracking customer orders via a central dashboard will streamline your workflow, and deliver orders faster- two things that are essential to businesses offering online ordering. The benefit of implementing a quality liquor store POS is that it’ll help get orders delivered in a timely manner and provide exceptional customer service, helping your business retain loyal customers and boost sales.
5. Choose What Integration Works Best For Your Business
Convinced to try out online ordering for your business? There are tons of integrations out there, and the choices ahead of you might seem overwhelming. For example, Drizly, one of the many online ordering and delivery platforms, formed a partnership with 7/11 to offer alcohol delivery in less than 60 minutes. More and more platforms are branching out to provide online liquor ordering; the question is simply which solution to choose.
One of the factors to consider is whether you’d prefer a one way system or a two way system. Drizly has a one way system, which means you still have to ring out a sale through a register to maintain correct inventory levels. Cityhive and Minibar, two businesses similar to Drizly, also feature a one way system. However, with Octopus, you can have a full two way system- meaning the order comes back and reduces inventory automatically.
A major benefit of alcohol delivery apps is that it can help take some of the workload off your plate. There won’t be any need to hire delivery drivers or set up your own ecommerce website. But each option- third party platforms versus a DIY website- has its own pros and cons. Every business needs something different. You may opt for convenience and choose a third-party delivery service, or you may want to save money by setting up your own ecommerce website. Whichever integration you choose for your liquor store, setting up a liquor store POS is a wise business move in 2022.
Online Liquor Ordering Can Increase the Longevity of Your Business
Online liquor ordering allows you to save consumer time, increase ROI, efficiently manage your stock, and drive revenue up. And as technology evolves, the opportunities to grow your online liquor business will continue to increase. By using a liquor store POS for seamless payment transactions and managing orders, you can streamline the process and provide an excellent customer experience.
Online ordering in the liquor industry isn’t going anywhere. In fact, it’s expected to skyrocket in the next decade. By making the transition now, you can stay ahead of the curve and increase the longevity of your business.