“The Unconventional Industry” is a kind of industry that will create new jobs and will keep changing according to the time, what these type of industry needed is the support from the government. Today’s story is about the Liquor Industry that is surprisingly something new in comparison to the traditional methods of conventional businesses. Liquor Industry is the unconventional industry that has developed a unique platform in the world of traditional industry and supersedes the boundaries of success.
Have you ever thought of having fun with liquor? Yeah, we know your answers: of course yes. But what if we say; have you ever thought of having fun with liquor at cheaper prices than never before? Now, this is something shocking for all. But no more shocking now, in India there are some platforms influencing consumers online to driving offline consumption of alcohol with heavy discount and moreover free shots too. A person stood in a bar opens a mobile app and within the next minute he got the choice of his booze just in a single click. Now, this is a business model of few liquor based startups. Let’s know more about these platforms one by one.
Startups in the Liquor Industry:
There are three startups Hipcask, HipBar and The Bar Stock Exchange are attracting millennial customer of the liquor in the urban area by catering at affordable prices. All the three were betting on the rapid evolution of consumer behaviour, disposable incomes, and the increasing availability of the liquor brands around the globe to the country. All the three companies in the liquor industry are giving a tough competition to each other.
Hipcask is India’s first wine & spirits’ focused on end-to-end based solutions to consumer platform and with the help of smartphone application, Hipcask, providing solutions by discovering beers, wines and whiskies. It is the very first startup providing comprehensive data and analytics about the alcohol domain and helping the liquor brands in reaching out to their consumers. This application also facilitates the users in understanding the likability factor, the pairing the food with wines, get and add tasting notes, timely notifications about new launches, and more such services.
“Hipcask is at a great spot, where we have a very good proposition for consumers and brands as well. Our analytics platform is the first of its kind for alcohol brands, and now, we will be working closely with Mobikon to scale the business very aggressively,” said Aneesh Bhasin.
HipBar is a Bangaluru-based startup founded by Prasanna Natarajan in 2015. The founder has his own in-house liquor manufacturing unit, he designs, manufactures and distributes high-end liquor. He faced lots of challenges in distributing the liquor in different states, so he decides to overcome all the challenges. He spent a decade in understanding the pricing and advertising factor in liquor work after all the efforts HipBar born. Now it is one of India’s largest liquor companies after investing INR 7 Crore in developing the business. It is also a fintech and retailer app, a discovery platform for the consumers to load money on the HipBar wallet.
“We are a fintech company and also a platform for liquor companies to promote their brands on,” said Prasanna. “Our focus is on the experience. Deals and discounts are the prerogatives of the establishment or the brand. We are a meeting place,” further he added.
The Bar Stock Exchange:
Mumbai-based The Bar Stock Exchange (BSE) founded by Amit Singh and Mihir Desai in 2014. A popular restaurant-bar venture’s business model is based on the stock market BSE. Same as the shares, the liquor price goes up and down and it depends on that brand of alcohol’s demand and supply and the app of the company is also available. The company claims that they have lakhs of downloaded the BSE app because of its novel concept.
“Just like shares at the stock market, prices of alcohol rise and fall and can be tracked on an LED screen in the bar,” said Amit Singh. “The app is for the users to log into when they are at the bar. For instance, it isn’t surprising to find users drinking Old Monk rum for Rs 16 a peg or Black Label whisky for less than Rs 100, based on the demand and supply concept,” he added further.
A world of Opportunity in the Liquor Industry:
Direct advertising of the brand is not a solution for the startup as it is illegal in the country but there is substitute advertising available at digital platforms. There are lots of hurdles in the path of the Indian liquor industry as in India there are lots of rules and regulations and prohibitions ceasing the path. Apart from this promoting the product through a digital platform, printing and marketing will be helpful but keeping the rules and regulation gamut of government to promote premium spirits.
Another major point is they should focus on women. Lots of wine shops are already initiated especially for the women still they are not able to buy drinks for them from those wine shops cause of our society. Although women consuming alcohol is now very common in big cities, like Delhi NCR region etc. But the women are not able to buy her drink; they still depend on male friends or colleagues to get their drink. Even women consuming alcohol is the most common things nowadays and they are not able to buy their drinks herself also is that common thing.
If women are getting these online services for their drinks and they get the delivery at home is the biggest market that they can easily capture. It will be more convenient for them rather than depending on male friends or colleagues for their drinks and most of all no need to visit any wine shop at all. The wine shop places are not safe for women despite visiting there they can safely order at home. This is the biggest market to cover and it will take no time to get success in covering the area.
The liquor industry is approximately twenty years old, but now we have some serious liquor producers now in India. Globally, India consumes more than a fifth part of produced alcohol around the world. According to a study by Associated Chambers of Commerce and Industry, the liquor industry expanding 30% year-on-year. Whisky is largely consumed by Indians in the world, by volume. Keeping the data and figures about the liquor industry in mind the idea of startups taken place mainly targeting millennials by attracting them providing liquor at affordable rates.
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Tags: Alcohol Industry, Craft Driven, Craft Driven Market Research, Demand and Supply, HipBar, Hipcask, Liquor Industry, Liquor Startup, market research, startup, The Bar Stock Exchange (BSE), The Unconventional Industry, Unconventional Industry, Wine Industry