San Francisco, CA, April 29, 2021 (GLOBE NEWSWIRE) -- Wine.com, the nation’s leading online wine retailer, ended the fiscal year on March 31 with $355 million in revenue, representing 115% year-over-year growth.
The year was highlighted by record-breaking growth and engagement across all customer segments:
- Membership in StewardShip increased 97% as customers subscribed for unlimited free shipping. Revenue from those members increased 146% to $209 million, representing nearly 60% of total company revenue.
- Wine.com’s 4.8 star app (61,209 reviews) and mobile devices accounted for $117 million in revenue, a 141% increase year-over-year. Customer wine ratings on the app grew 284%.
- Millennials and Generation Z continue to be the largest and fastest-growing segment of new customers, representing 44% of all new Wine.com customers during the year.
- Over 100,000 households were entertained by winemakers and celebrities in the company’s ongoing series of virtual wine tastings.
- Thousands of Picked by Wine.com customers read notes from their personal sommeliers as they unboxed six wines handpicked just for them. Picked by Wine.com is the company’s new personalized wine club.
- In the fourth fiscal quarter Goldman Sachs Asset Management led a round of financing in the company to fund marketing and initiatives such as Picked by Wine.com, as well as to build further operational scale.
“Customers who found us during COVID to avoid a trip to the store are realizing Wine.com offers selection, guidance and convenience you can’t find in stores,” said Rich Bergsund, Wine.com CEO. “We’re excited to use technology to inspire wine and spirits discovery and continue the acceleration toward Ecommerce in our category.”
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 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.