LQR House Reports 458% YOY Revenue Surge in December 2023, Fueled by Holiday Ecommerce Success
MIAMI BEACH, FL, Jan 5, 2024 – (ACN Newswire) – LQR House Inc. (the “Company” or “LQR House”) (NASDAQ:LQR), a niche ecommerce platform specializing in the spirits and beverage industry, proudly announces a remarkable 458% YOY increase in revenue for December 2023 compared to December 2022. This achievement aligns with The National Retail Federation’s forecast, projecting record-breaking holiday spending between $957.3 billion and $966.6 billion during November and December 2023.
In December 2022, LQR House recorded revenue at $74,053, and the Company has witnessed a significant growth to $339,713 in December 2023. We believe that this accomplishment is not isolated but part of a broader trend, evidenced by record-breaking sales over the Black Friday to Cyber Monday weekend where November’s monthly revenue surged over 300% year-over-year. In our view, these results indicate that this is not a one-time occurrence for LQR House, but rather, we believe it’s evolving into a recurring situation where LQR House is actively cultivating consistent momentum.
Sean Dollinger, CEO of LQR House, emphasized the significance of the holiday season in ecommerce, stating, “December consistently stands out as the most robust period for ecommerce. Holiday spending tends to escalate, and concurrently, alcohol sales witness a notable rise. We believe, that the year-over-year increase in sales truly attests to the value LQR House brings. Following its remarkable performance in November, the Company replicated its success in December. The aim is to sustain this growth trajectory as we unveil exciting plans ahead to further disrupt the industry and deliver increased value to our shareholders.”
We believe that LQR House continues to solidify its position as a trailblazer in the ecommerce landscape, showcasing rapid growth and innovative strategies to meet the evolving demands of consumers in the spirits and beverage industry.
About LQR House Inc.
LQR House intends to become a prominent force in the wine and spirits e-commerce sector, epitomized by its flagship alcohol marketplace, cwspirits.com. This platform seamlessly delivers a diverse range of emerging, premium, and luxury spirits, wines, and champagnes from esteemed retail partners like Country Wine & Spirits. Functioning as a technology-driven hub, LQR House utilizes software, data analytics, and artificial intelligence to elevate the consumer experience. CWSpirits.com stands out as the go-to destination for modern, convenience-oriented shoppers, providing a curated selection of alcohol products delivered to homes across the United States. Beyond its role as an e-commerce leader, LQR House is a marketing agency with a specialized focus on the alcohol industry. The company measures campaign success by directly correlating it with sales on CWSpirits.com, demonstrating a proven return on investment. Backed by an influential network of over 550 figures in the alcohol space, LQR House strategically drives traffic to CWSpirits.com, enhancing brand visibility. LQR House intends to disrupt the traditional landscape of the alcohol industry, driven by its dedication to providing an unparalleled online purchasing experience and delivering tailored marketing solutions.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Shareholders can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement on Form S-1 filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement on Form S-1 and other filings with the SEC. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov.
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