How to Increase Liquor Store Revenue – A Back-to-Basics Guide for BC LRS

How to increase liquor store revenue is a question frequently on the minds of British Columbia LRS (Licensee Retail Store) managers and owners.

The liquor store consultants at Thrive Liquor & Cannabis Advisors visit many liquor stores each year and we know what makes a retail liquor operation successful. The following tips are relevant to BC LRS and any retail liquor store – wherever the location.

Understand Liquor Market Trends

Knowing what’s being purchased from the BC Liquor Distribution Branch (LDB) is one way of spotting trends. LDB Liquor Market Review Reports are detailed quarterly reports for sales of beer, refreshment beverages, spirts and wine sold through the LDB wholesale channel.

Other resources:

• Statista.com Market Insights for alcoholic drink revenue in Canada. The reports include sales graphs by category (beer, ciders, hard seltzer, spirits and wine) and an analyst’s opinion.
• ABLE BC’s “The Quarterly Pour” is a free online magazine offering BC liquor market trends, views and opinions written by industry insiders and businesses. The magazine is distributed to all liquor licensees in BC, although it’s an excellent resource for any liquor retailer.
• Foodservice and Hospitality Magazine “Pouring for Profits” section often features articles about liquor trends.
• BevSource Industry Insights offers detailed analysis of alcohol beverage trends.

Build an Appealing Inventory

There is a direct connection between liquor store inventory and liquor store sales revenue. A well-rounded inventory includes:

• Standard products for each category
• Trending products
• Local craft beer, wine and spirits
• “Luxury” liquor products
• Products that differentiate your store from others. For example, products curated by managers and sales associates

Host Tasting Promotions

Tasting promotions provide an opportunity to introduce customers to new or local beverage alcohol, no- and low-alcohol products.

Improve Customer Service

Liquor store staff should be attentive to customer needs. When a customer enters the store,  an associate should greet them, ask if they need help finding a product, and provide recommendations. Sales associates should be knowledgeable of the store’s inventory.

Optimize Your Liquor Store Layout for Increased Revenue

The layout of your liquor store can influence revenue. “Set it and forget it” shouldn’t apply to liquor store layouts. Review your floor plan at least annually. Read the Thrive blog post “Liquor Store Layouts are Vital to Retail Liquor Success”.

Embrace Ecommerce & Social Media Marketing

If you don’t have an online store, you may be missing an opportunity for sales and brand visibility. Get ideas by doing a Google search for “private liquor stores online shopping bc”. You’ll see many examples.

A social media presence is an easy way to get noticed. Consider both a Google Business listing and Facebook Business page. You can post on both for free. On Facebook, you can pay to boost posts or create pay-per-click ads targeting a specific demographic.

Need Help Increasing Liquor Store Revenue? Talk to a BC Liquor Store Consultant

If your liquor store sales are flat or declining, Thrive Liquor & Cannabis Advisors can help. We offer operations audits and provide insights and ideas that we can help you implement.

If you’re new to liquor licensing in BC? Read “5 Thinks You Need to Know About BC Liquor Licensing”.