While bars and restaurants have been flattened by the pandemic, a core product poured at many of those places — alcohol, sold online — is on a towering sales tear.
One startling example: The U.S.-based ecommerce market for alcohol grew 80% in 2020, according to a report from IWSR Research, going from $3 billion to nearly $5.6 billion. The U.S. alcohol ecommerce market is expected to overtake China as the largest in the world by the end of 2021, the report adds.
Consumers are imbibing in more beverages worldwide as well. The report projects alcohol ecommerce will increase 42% across 10 core markets in 2021, to reach $24 billion. By comparison, alcohol ecommerce value in those markets, including China, France, Italy, Spain, the U.K. and the U.S., grew 11% in 2019. “Consumers’ increasing proclivity for online purchasing has been driven by necessity in recent months, but these purchasing behaviors are here to stay, says Guy Wolfe, at IWSR Drinks Market Analysis Strategic Insights Manager Guy Wolfe says in the report.