Park Street Insider Podcast What's Trending— ReserveBar CEO Derek Correia on Unlocking E-commerce
E-commerce in beverage alcohol has historically lagged behind traditional CPG sectors, but thanks to the pandemic and the gradual loosening DTC shipping laws, we're seeing this channel assume a meaningful share of alcohol sales for the first time.
In this episode, the Park Street Insider Podcast welcomes ReserveBar CEO, Derek Correia. He and Emily Pennington evaluate how bev-alc e-commerce has progressed to where it is today, how ReserveBar was able to scale its business to sit at the center of online bev-alc sales, and how brands can build e-commerce into their strategy. They also explore key insights regarding how consumers behave online and the spirits categories/price tiers that are currently trending.
Key topics mentioned:
- What will the future of bev-alc e-commerce look like?
Millennial and Gen-Z consumers have an increasing interest in buying alcohol online. Correia posits the concept of "e-commerce everywhere" and offers a profile of how the modern shopper behaves. Doing an on-site brand activation? Derek sees a world where the time between a consumer trying a product and subsequently purchasing it online shrinks to a matter of seconds. He and Emily discuss how e-commerce is set to influence industry dynamics down the road.
- What does Uber dissolving Drizly mean for bev-alc e-commerce?
With Uber shutting down Drizly at the beginning of 2024, questions were raised about what the future of the sector would look like. Correia offers his thoughts on how this move alters the bev-alc e-commerce landscape. ReserveBar is attempting to fill the void for brands whose money was tied to the known depletions of Drizly. "Brands don't enjoy the same ability to influence purchase in that last mile digitally as all other CPG does, so platforms like ours have become very important"
- What strategies can brands use to implement e-commerce capabilities?
Correia gives his best practices for using an online presence to leverage sales. He emphasizes the importance of building out a frictionless path to purchase across all online consumer touchpoints. He also offers his take on the mistakes he sees brands making when constructing their e-commerce presence.
In this episode you'll hear from:
Derek Correia, CEO, ReserveBar
Mentioned in this episode:
ReserveBar
Minibar Delivery
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