Optimizing Your Liquor Store Inventory

Posted by Karen Erdelac on Jun 5, 2018

Optimizing Your Liquor Store InventoryThe most successful liquor store owners keep their fingers on the pulse of entertainment and dining trends in their local area as well as changes in beverage tastes nationwide. They plan strategically for annual events - big beer orders before football season and liqueurs for the winter holidays all while also being able to move quickly when an unexpected purchase opportunity is presented.

Microbrew Beer Cave

Beer caves offer a unique buying experience and help to accommodate and display the growing number of microbrews.  The popularity of small and local brews has increased the demand for shelf space.  Installing a beer cave will help you take advantage of this trend and serve up a wide variety of ice cold microbrews as well as traditional favorites.  A beer cave can help you to move inventory as it provides ample shelf space and room for displays.  They are not just a gimmick, but a great tool for creating a unique customer experience and generating revenue.

Seasonal Investments

Optimizing Your Liquor Store InventoryGame day and holidays demand special attention, but every page of the calendar has its unique needs. No matter how much white wine and light beer is in stock at summer's end, liquor store owners still need to push out those hard cider and spirit orders as soon as the days start getting shorter. This high degree of seasonality can create a disconnect between revenue and required spending that sends liquor store owners looking for funding to temporarily bridge the financial gap. 

Trends And Tastes

Trends in spending and consumer behavior also play a part in what customers expect from a well-stocked liquor store. A study performed by Mintel found that shoppers ages 21 and above are consuming more alcoholic beverages in private homes than in bars or clubs. More drinking at home means demand for beverages that suit informal gatherings and meal times. Liquor store owners may be pleased about these positive changes but capitalizing on them often means finding fast funding to take advantage of bulk-purchase savings on popular beverages.

Owners of independent liquor stores face stiff competition from big box liquor store chains.  Properly managing your inventory will allow you to provide competitive pricing while focusing on the customer experience that will help you build brand loyalty.

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Topics: Liquor Store