SAN FRANCISCO, July 16, 2020 (GLOBE NEWSWIRE) -- Wine.com, the nation’s leading online wine retailer, closed the quarter ending June 30 with $106 million in revenue, representing 283% year-over-year growth. This brought trailing 12-month revenue to $244 million, a 79% increase over the comparable year period.
Trailing 12-month highlights include:
- Membership in StewardShip, Wine.com’s $49/year unlimited shipping program, surged as consumers shifted from in-store to online shopping. Revenue from these loyal and highly valuable customers reached $128 million, an increase of 92%.
- Revenue from mobile devices increased 86% to $82 million despite consumers being at home with constant access to computers, underscoring Wine.com customers’ high level of engagement and the utility of its 4.8 star mobile app (45,000 reviews).
- Revenue from Millennials and Generation Z, important growth engines for the wine industry, maintained its accelerated trajectory reaching $66M, an increase of 121%.
- Wine.com launched a series of virtual wine tastings during the quarter, hosting 20 events viewed by 40,000 households.
“The last quarter has fundamentally changed our growth trajectory,” said Rich Bergsund, Wine.com CEO. “We’re seeing new levels of engagement across all customer segments, and particularly our StewardShip members, as consumers are committing to Ecommerce.”
About Wine.com
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.
Forward-looking statements
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.
Addie Wallace
awallace@wine.com
press@wine.com