Beyond Marketing: LRQ HOUSE Reports That CWSpirits.com Acquisition Poised To Transform Them Into An Alcohol E-commerce Powerhouse
FORT LAUDERDALE, FL / ACCESSWIRE / November 14, 2023 / Wine and spirits purchases online have been growing ever since the pandemic when people had no choice but to turn to e-commerce to get their adult beverages. That hasn’t changed since then, with online alcohol sales predicted to grow 20.58% from now through 2027, reaching $20.48 billion.
LQR House Inc. (NASDAQ:LQR), the marketing agency specializing in the spirits and beverage industry, plans to capitalize on that demand. It just inked a deal to acquire www.cwspirits.com, a leading wine and spirits website with more than 125,000 customers in the U.S. It’s the first acquisition of a platform for the marketing company, which has specialized in providing website management, design, development, email marketing and search engine optimization to the spirits market, helping brands grow their name and sales.
The acquisition of CWSpirts.com may prove to be a game changer for LQR House. It already had a relationship with CWSpirits, but that centered around driving sales for it as a marketing customer. It’s been fruitful for LQR, which said on its website that since getting involved with the e-commerce site sales have seen an increase, with CWSpirits.com getting thousands of unique sales per week, representing a return on investment of over six times.
Now, LQR House will have direct oversight of CWSpirits.com’s inventory, which enables it to facilitate the delivery of a wide range of boutique and mainstream alcohol products to customers’ doorsteps. It also gives it insight into which products are trending, losing their luster or selling at a steady pace. That’s particularly important in the spirits sector. Consumers are fickle, and tastes can change quickly.
“This really gives us the competitive advantage as we can now see everything from A-Z,” said LQR House CEO Sean Dollinger when announcing the deal. “We always knew that our partnership with CWSpirits.com was super valuable, and we are so happy to now own the domain and show our investors that LQR House is a leading force in the alcohol space – when it comes to alcohol marketing and sales.”
LQR House’s Revenue Setup
Not only does the acquisition underscore LQR House’s commitment to revolutionizing the industry but it improves its capacity to meet the ever-evolving demands of consumers and potentially boost sales. LQR isn’t a supplier, wholesale or retailer, but will operate the website and drive consumers to it. LQR earns a percentage from each sale generated through the CWSpirits.com platform, putting it in a unique position to further drive sales. “This setup has the potential to make a substantial impact on the company’s revenue, thanks to its role in connecting customers to premium spirits and providing a seamless sales experience,” says Dollinger.
Who You Know
CWSpirits.com built a name for itself by curating a selection of up-and-coming, well-known, premium and rare spirits. The platform is popular with wine and spirits brands and consumers thanks to easy delivery options, a selection of thousands of popular SKUs, the ability to access up-and-coming brands and exclusive deals and benefits through its Vault rewards platform. The platform also uses artificial intelligence to improve targeting and conversion rates.
Buying spirits online is no longer a novelty, it’s a way of life for thousands of consumers. That isn’t lost on LQR House or the 2,047 distilleries in the U.S. which are churning out new products to meet consumers’ ever-evolving needs. LQR House wants to help brands navigate that and is betting its acquisition of CWSpirits.com better positions it to do just that.
SOURCE: LQR House
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