IBISWorld Industry Market Research: The U.S. Online Beer, Wine & Liquor Sales Industry Is Expected To Earn Revenue Of $614.0 Million In 2016
Industry revenue has skyrocketed, partly due to the expansion in households with internet connections. For this reason, industry research firm IBISWorld has updated a report on Online Beer, Wine & Liquor Sales.
NEW YORK, Nov. 21, 2016 /PRNewswire/ -- Over the five years to 2016, industry revenue is expected to grow at an annualized rate of 11.7% to $614.0 million. In 2016, revenue is expected to rise 6.5%, due to growing consumer demand for craft beer.
For the full report, visit IBISWorld's Online Beer, Wine & Liquor Sales in the U.S. industry report page. Profit is anticipated to reach 4.6% of industry revenue in 2016, driven by many industry operators forming favorable partnerships with brick-and-mortar liquor stores. For example, some online retailers have outsourced filling and delivering orders to brick-and-mortar stores, effectively lowering costs related to complying with state regulations (e.g. purchasing licenses and obtaining permits for distribution vehicles). "However," notes IBISWorld Industry Analyst Darshan Kalyani, "state-by-state variations in regulations for interstate alcohol distribution have posed a key hurdle for the industry." Over the five years to 2021, industry revenue is forecast to grow. Alcohol sales will increase, partly thanks to population growth among individuals aged 20 to 64, which predominately encompasses the drinking age population. According to data from Nielsen, millennials account for 53.0% of respondents who plan on making online purchases, which will provide the industry with a larger potential customer base. Downstream industries impacted:Chain RestaurantsSingle Location Full-Service Restaurants Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189IBISWorld industryReport Key Topics Industry PerformanceProducts & MarketsGlobalization & TradeMajor CompaniesOperating ConditionsKey Statistics About IBISWorld Inc.Recognized as the nation's most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every U.S. industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. For more information, visit www.ibisworld.com or call 1-800-330-3772.Contact InformationKathryn WhiteMedia Relations Specialist Kathryn.email@example.com +1 917-267-0351 Ext: 351 Logo - http://photos.prnewswire.com/prnh/20161108/437083LOGO