11/20/2022 0 Comments Costco corona beer prices![]() ![]() Along with upscale sparkling and domestic wines, he adds that RTDs, hard seltzers, and 3-liter boxed wines also showed solid growth last year and that wine advent calendars sold out very quickly during the holiday season. Sokol notes that several products in that portfolio gained a lot of traction last year. Many of Costco’s top wine and spirits performers in 2020 came from its proprietary Kirkland Signature label. Overall, our alcohol sales increases were close to double what we initially had planned for last year, prior to the start of Covid-19.” Initially, we were a few weeks behind the trends of other off-premise retailers, but as we moved through last summer we started to see increases across all beverage alcohol categories, especially domestic fine wine and sparkling wines. “But after the lockdowns expanded and on-premise business slowed down, we really started to see increased sales in spirits and wine. “Initially, our alcohol sales increases were driven by the additional foot traffic of members who were coming in for essential items,” Sokol says. Sokol believes that early in the pandemic, the company’s alcohol sales benefited from shoppers coming in for necessities like toilet paper and canned goods, but he notes that the stores’ drinks sales remained steady even as Covid-19 shopping patterns changed. Costco managed to open 13 new stores in 2020 and surpassed 100 million members worldwide. Of those, 455 sell wine, 337 sell spirits, and 496 sell beer. At the end of 2020, Costco’s total global sales were more than $163 billion and the company had 803 stores around the world. Along with social distancing protocols, stores in many states had to limit their shopping capacity, preventing guests from entering the spaces and wreaking havoc on the hospitality portion of retail. Like all retailers, Costco had to adapt quickly last year as the Covid-19 pandemic evolved and continuously affected the retail tier. Costco’s proprietary Kirkland Signature wines were top sellers for the company last year, with Kirkland Signature DOCG Prosecco and Kirkland Signature Ti Point Sauvignon Blanc the most popular among consumers. Of the $5 billion in global revenue from beverage alcohol last year, wine (aisle pictured) made up 50% of sales. Our goal is to always try to over-deliver in these areas.” “We hope to continue to build on our current success while focusing on quality, value, and excitement in beverage. “We definitely think the beverage alcohol department is a destination for Costco members, especially for our Kirkland Signature proprietary items that aren’t available elsewhere,” Sokol says. Maintaining such strong and growing drinks sales for that long is an amazing feat. Those numbers have shifted gradually over the last ten years, as spirits and beer used to split equal 25% shares of beverage revenue in 2010. Wine continues to comprise half of Costco’s total beverage alcohol sales, equaling roughly $2.5 billion last year, followed by spirits at 30% and beer at 20%. Over the last decade, the company’s alcohol sales have essentially doubled, as they were posted at $2.3 billion in 2010. “We believe we will continue to have robust sales through 2021.”Ĭostco’s global beverage alcohol sales topped $5 billion in 2020, up from roughly $4 billion in 2018. “Alcohol sales were very strong in 2020 and we’re continuing to see healthy double-digit increases,” says Chad Sokol, Costco’s assistant vice president and general merchandise manager for beverage alcohol. The mega-company has been a leader in off-premise beverage sales for years and, like many of its competitors, Costco saw huge gains last year as buying trends shifted heavily toward retail during the height of the Covid-19 pandemic. Instead, Costco’s beverage sales continued to grow. Amid a tumultuous year of navigating a changing retail climate during a global pandemic and new leadership at the head of its beverage alcohol sector, the big-box retailer could have easily suffered during 2020. In the world of wine retail, few companies can compete with Costco Wholesale Corp. He took over the beverage alcohol department after Annette Alvarez-Peters retired at the end of 2019. continues to be a dominant force in beverage alcohol retail.Ĭostco Wholesale Corp.’s assistant vice president and general merchandise manager for beverage alcohol, Chad Sokol (pictured), has been with the company for nearly three decades. Amid the Covid-19 pandemic and a change in leadership, Costco Wholesale Corp. ![]()
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