Leading online wine retailer sees continued shift to e-commerce
SAN FRANCISCO, Jan. 13, 2021 (GLOBE NEWSWIRE) — Wine.com, the nation’s leading online wine retailer, closed calendar year 2020 with $329 million in revenue, representing 119% year-over-year growth. For the most recent quarter, ending 12/31/20, revenue was $111 million, up 64% over the prior year.
Highlights over the last 12 months demonstrate a continued acceleration in the company’s growth as wine and spirits consumers engage online in record numbers:
- Revenue from StewardShip members (Wine.com’s subscription program for unlimited free shipping), increased 149% to $189 million for the trailing 12 months, with members saving over $30 million in shipping costs.
- Customers continue to shop from their phones and Wine.com’s 4.8 star mobile app (56,703 reviews). Revenue from mobile devices increased 111% to $110 million.
- Millennials and younger represented 44% of all new Wine.com customers during the year, the largest and fastest-growing generation of new customers.
- Customers dove deep into wine discovery on Wine.com – engaging in 378,841 live chat sessions with Wine.com Sommeliers and purchasing wine from 198 different grape varieties and 52 regions.
- The company’s new personalized wine club subscription, Picked by Wine.com, got off to a good start in the fall, with 25,817 wines hand selected by Wine.com Sommeliers according to individual customer preferences.
“We encountered many challenges during 2020 to keep up with demand, including doubling our workforce in operations and customer service and keeping our people safe during the pandemic,” said Rich Bergsund, Wine.com CEO. “We are grateful to all of our people and partners for the incredible job they did during a very challenging year.”
Bergsund will be presenting at investor conferences this week, including ICR Conference 2021 on January 13th and the Needham Virtual Growth Conference on January 14th.
Wine.com offers selection, guidance and convenience not found in stores – helping customers discover the incredible world of wine with confidence. Live chat sommeliers provide friendly advice and customers receive unlimited free shipping all year by joining StewardShip. Wine.com was recently named Wine Enthusiast’s Retailer of the Year. For more information, visit the company’s website at www.wine.com or download its app in the Apple Store or Google Play.
This press release contains forward-looking statements that relate to anticipated financial performance, management’s plans and objectives for future operations, business prospects, and other matters. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Wine.com undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. Actual events or results may differ materially from those described herein due to a number of risks and uncertainties. Wine.com cautions that these statements are subject to risks and uncertainties, many of which are outside of Wine.com’s control and could cause future events or results to be materially different from those stated or implied in this press release, or to not occur at all. Given these uncertainties, you should not place undue reliance on these forward-looking statements.