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Wine.com releases Fiscal 2020 and April results

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

SAN FRANCISCO, May 14, 2020 (GLOBE NEWSWIRE) — Wine.com, the nation’s leading online wine retailer, topped $165 million in revenue and 25% growth for fiscal 2020, ending March 31. The $33 million revenue increase over fiscal 2019 represents the largest year-over-year gain in the company’s history.
While these results reflect 2 weeks of shelter-in-place mandates, the full impact was not seen until April, when revenues for the month exceeded $40 million, a 350% increase over April 2019.  This brought trailing 12-month revenue to $197 million – a 47% increase over the comparable prior year period.“Our priority has been to delight these new customers while staying safe,” said Rich Bergsund, Wine.com CEO. “We’ve hired over 500 people onto our operations, customer service and live chat recommendations teams, while moving to same-day shipping, operating 7 days a week and implementing strict distancing, cleaning and safety protocols.”Trailing 12-month highlights include:Revenue from StewardShip members reached $100 million, an increase of 54%.  Members pay $49/year to receive unlimited free delivery and represent the company’s most loyal customer segment, with a value to acquisition cost ratio of 10-15 times.Revenue from mobile devices, an important measure of customer engagement in wine e-commerce, increased 55% to $65 million.  Wine.com’s 4.8 star mobile app — with 39,000 reviews — enables users to buy wine, scan labels, rate favorites and chat with a sommelier.Revenue from Millennials and younger age groups topped $50M, an increase of 77%.  Reaching the next generation of consumers is an important priority for Wine.com and its winery and wholesale partners.Customer satisfaction scores, as tabulated by Bizrate from over 10,000 responses, are at an all-time high with a 9.4 out of 10 on “likelihood to recommend.”  Bizrate survey results can be found here.“New customers have been joining our StewardShip membership program at twice the normal rate,” continued Bergsund.  “If we show them how fun and easy it is to discover the world of wine through Wine.com, we expect them to remain loyal Wine.com customers for years to come!”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.Addie Wallace
awallace@wine.com
press@wine.com

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