Winc. Beverage is showing that being in the right sector at the right time has its advantages. Moreover, when combining entrepreneurial spirit to a business plan that can generate company growth faster than competitors, the recipe is usually a template for success. Leaders at Winc certainly think so. And its CEO, Geoff McFarlane recently explained why in an interview featured in Entrepreneur magazine.
Commenting on the company’s impressive growth, McFarlane said,
“Our growth has been driven by our core brands that have gained top ratings from critics, a cult following from consumers, and significant growth at retail locations throughout the country. Among these brands is Summer Water, a rosé that captures the essence of laidback, easy drinking lifestyle creating tremendous social following and growth at retailers like Whole Foods, Walmart, and Albertsons. Another example is Lost Poet, a wine we created in partnership with Atticus, an Instagram poet with over 1M followers, and that has found rapid success at Target. These brands have helped drive explosive growth in our wholesale channel, which more than doubled in Q3 2021.
Our brand development process and the amazing products it helps us develop are at the heart of what we do. We’re able to leverage the feedback we receive through our direct relationship with customers to test and refine products, preparing them for distribution in the broad market where we are able to amplify successful brands through our national wholesale distribution network.
And of course, all of this couldn’t be done without our world-class team – from our winemakers to supply chain analysts to brand strategists and marketing team.”
McFarlane expects growth top come from targeting particular demographics.
“Roughly 75% of our consumers are 44 years or younger, the key Generation X and Millennial demographics – these consumers are the next generation that will dominate the wine and beverage spaces in the near future. Everything we do is centered on our customer connection and the modern path to consumer we’ve created through our digital expertise and wholesale network – from our brand aesthetics and values to our social media engagement to our commitment to sustainability and organic wines. For example, informed by industry reports and our own proprietary surveys and data, we believe that sustainability and organics are among the most important buying factors for the younger consumer – and we’ve listened and acted on it, nearly tripling our organic selection in 2021.”
The entire Entrepreneur interview can be read by clicking HERE.
Notably, Winc recently posted significant growth in organic wine sales in its wholesale channel, exampled by organic wines banking 81% of all Winc unit sales at Whole Foods in November 2021, up from 58% in Q3 2021. Leaders in that drive include its top organic portfolio brands, including Cherries & Rainbows, Pizzolato, Biokult, and Les Hauts de Lagarde. Still, while the 23% increase is impressive, based on what Geoff McFarlane has to say, Winc Inc. (WBEV) has no intention of slowing down.
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