As e-commerce in the spirits sector booms, Whisky Loot has announced the launch of Gin Loot.
Gin is experiencing huge growth in Australia. In the quarter to August 9, IRI reported $141million growth (MAT to 9/8/2020) for gin, with its market share up more than 22%.
Whisky Loot was founded in 2016, with the aim of shaking up Australia’s online whisky market. It's a curated subscription tasting service that allows customers to taste premium whiskies before committing to buy a whole bottle. And it's now preparing to create the same offering for online gin market.
"We're expanding into gin with the launch of Gin Loot before the end of the year," said Joel Hauer, Founder & CEO of Whisky Loot.
The digital platform is currently on the hunt for a gin specialist to join its team and create gin educational content for the new liquor vertical.
Changing trends in whisky buying during pandemic
Hauer (below) said COVID-19 restrictions have led to a massive shift in spirits purchasing habits.
To keep up with demand, Whisky Loot has moved to a warehouse eight times the size of its original space, and is doing four times the volume of its February sales.
"We had doubled our revenue between March and April, and more than doubled again between July and August," he revealed.
"We've seen increases across the board in regard to whisky purchases, with an increase in the average price people are willing to pay for a premium bottle.
"Some people are spending upwards of $300 on a bottle of whisky. Our tasting subscriptions have also seen a demand increase in the premium tasting packs."
Hauer said customers have been buying a lot more gifts lately, especially in regard to sending gifts to people in Victorian lockdowns.
As its business grows, Whisky Loot is also seeking a spirits buyer to manage supplier relationships and its marketplace platforms. It follows the subscription service scoring $400,000 in seed funding in January.
"We are expanding our team with the aid of investors who are backing the business," Hauer said.
"As a unique tasting subscription business model, we're seeing an influx of customers who resonate with the idea of tasting rather than buying full bottles. Our unique model allows for discovery and education, and we plan to expand into multiple liquor verticals and new countries in the future."
The spirits leading growth in the ‘COVID quarter’
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