Abdomen As a lot because the Bar With First-Ever Digital Booze Card | Promoting

By Jack M. Germain

11/24/2021 5:00 AM PT

Consumers have a strong appetite for gift cards and the giving of alcohol. But so far they couldn’t do either with a branded gift card. The market didn’t have any.

Beverage alcohol e-commerce platform company Thirstie announced the first-ever alcohol branded gift cards with major liquor brands on Tuesday.

A recent Thirstie survey of over 2,000 American adults ages 21 and up found an overwhelming interest in liquor branded gift cards. According to the Thirstie consumer survey conducted by Swytchback in spring 2021, almost twice as many consumers would give a gift card for alcohol over a bottle.

Additionally, demand from high-income consumers for a top-selling vodka brand gift card is 84.4 percent, outpacing demand for leading retail gift cards like Apple at 76.9 percent and Starbucks at 76.5 percent. The survey also showed that 77 percent of consumers prefer premium and token gift cards, a criterion shared by many liquor portfolio companies.

Thirstie’s technology platform connects beverage alcohol brands with consumers. The gift card solution is the first and only of its kind in the United States.

“We have been working to solve a very real problem with our industry, which is how we can most effectively get consumers to take over branded e-commerce businesses,” said Thirstie CEO and Co-Founder Devaraj Southworth.

The unique card solution is the result of completely unconventional thinking and pushing the boundaries of innovation, he said. The innovative approach reinforced pre-existing consumer behavior rather than trying to force consumers to try something completely unknown.

The launch of the first and only liquor gift card solution for both the beverage alcohol and gift card industries will further connect consumers to the e-commerce experience of Thirstie’s branded partners, he said.

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Portable money backup

The digital behavior around gift giving continues to increase in both the gift card and alcohol gift industries. The pandemic and supply chain issues fueled this growth, researchers at the Blackhawk Network found. About 75 percent of millennials prefer receiving gift cards over physical gifts, researchers said.

In all of the storefronts operated by Thirstie, 12 percent of all e-commerce orders were gifts. According to Thirstie, that sales growth rose to 22 percent in December 2020. Within the gift card sector, online gift card purchases more than doubled in 2020, outpacing growth in 2019, according to Research and Markets.

Both the beverage, alcohol and gift card industries saw significant year-on-year growth. This growth should continue. The global alcoholic beverages market is projected to hit $ 736 billion, Research and Markets reports.

This market size and growth exceeds the global gift card industry. Allied Market Research predicts the global gift card industry will reach $ 1.1 trillion by 2030.

Allied market research estimated the size of the industry at $ 258.34 billion in 2020. The company forecast an average annual growth rate (CAGR) of 15.8 percent for the industry from 2021 to 2030.

How it works

Thirst powered gift cards will enable liquor brands to connect with their consumers through a comprehensive omnichannel approach. Gift card recipients can only redeem their gift cards through merchant sites connected to Thirstie.

Brands now have the ability to offer gift cards both through their online storefront and for in-store purchases. This dual outlet will increase consumer traffic to the digital shops of the affiliated providers.

According to Southworth, spirits branded gift cards will undoubtedly transform two multi-billion dollar industries. Thirstie’s mission will always be to redefine the way consumers interact with their favorite brands.

“By putting brands in a position of control where they have the opportunity to interact directly with their fan base, we have resolved a major weakness in the beverage alcohol industry,” he said.

His company takes this mission one step further by bringing this innovative solution to the market and helping brands drive consumer adoption of their ecommerce sites while meeting consumer demand, he added added.

Increase sales without marketing

Thirstie only works with retailers who have their own local delivery mechanism or who can ship products to legally permitted countries. The company also works with properly licensed retailers who retail alcoholic beverages. But consumers must live in states that allow such sales.

The process is automated by Thirstie for affiliated liquor stores. The company sets up the connected shops in its software platform and integrates itself into the retailer’s cash register system. The setup includes shared carrier and bank accounts for direct deposits.

A major benefit for affiliate liquor stores is the ability to increase sales without having to market their businesses to consumers. This enables local stores to maximize their sales per square foot by generating additional sales through Thirstie.

Groundbreaking Liquor Gift Cards

Much like branded ecommerce sites, gift cards offer brands the opportunity to interact directly with their customers. This increases consumer acceptance of buying bottles online.

Thirstie’s new gift card solution equips companies with data insights and significantly increases their ROI. According to Blackhawk, consumers spend an average of 40 percent more than the value of a gift card.

Leading brands are using gift cards to increase shopping cart size and increase sales. Starbucks reported last year that, according to Restaurant Business, nearly 45 percent of its sales come from gift cards.

“Liquor gift cards will be game changers not just for Thirstie and its brand partners, but for the entire industry,” predicted Blackhawk Networks founder and Thirstie consultant Donald Kingsborough.

This solution will completely transform both the gifts and alcohol sectors on an unprecedented scale, he predicted.
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BellyJack M. Germain has been a reporter for the ECT News Network since 2003. His focus is on corporate IT, Linux and open source technologies. He is an esteemed reviewer of Linux distributions and other open source software. Jack also deals extensively with business technology and data protection issues, as well as developments in e-commerce and consumer electronics. Email to Jack.

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