bmiheader

Our Weekly Digest is Live!

Public Archives Search

Keyword Search

STOCKS

Market quotes are powered by TradingView.com
04/28/2020

IPAs and Pale Ales Are Fastest Growing Beer Styles on Drizly; Craft Over-Indexes 2X

While hard seltzers are stealing the show in beer (and total alc bev) biz by virtually every other measure, IPAs and ales are the fastest growing beer styles on Drizly’s platform for ordering beer online since COVID-19 hit, Drizly CEO Cory Rellas shared on webinar hosted by Evercore ISI analyst Robert Ottenstein. Lookin’ at yr-over-yr sales trends on Drizly (bolstered lately by influx of new users and retail accounts), IPAs accelerated from +333% on Mar 16 to +823% on Apr 13. And pale ales accelerated from +342% to +870% in that time. Liquor, Cordials, and Schnapps catch-all segment was the only other segment among all alc bevs that grew faster in that time, pickin’ up to +953% on Apr 13. Hard seltzers accelerated to “just” +555% on Apr 13. Indeed, “our consumer over-indexes craft” by 2X, Cory noted. Suggests craft has over 20 share of Drizly beer sales. “Higher price point beers” are “taking further and further share from the macros,” he added.

Recall, Drizly is a software co that serves as 3d party mkt place aggregator for consumers to order alc bevs online for delivery. More rapid adoption of online sales following on-premise shutdowns helped drive Drizly’s biz to a whole ’nother level, growing between 400-600% nearly every day (on a yr-over-yr basis) from Mar 16 thru Apr 13, Cory shared. Suddenly, Drizly’s on path to become $1 bil GMV (gross merchandise value) platform in just 18 mos. Awareness of e-commerce in alc bevs “just tripled or quadrupled overnight,” Cory added. “This is not just a blip.”

Publishing Info

  • Year: 2020
  • Volume: 11
  • Issue #: 39
Read 74 times Last modified on 05/05/2020