Running a liquor store, like most retail businesses, is all about giving your potential consumers what they want at a reasonable price and letting them know where they can get it. Because the home consumption industry is so competitive, it's critical to buy intelligently and market your business if you want to increase your profits.

Building a loyal customer base and giving a selection that resonates with your audience – whether local customers or customers that seek you out based on your selection or qualities – are two of the most popular strategies to gain a competitive edge. Consumer events, conducting tasting sessions or special services, offering competitive pricing, and having qualified employees can all help you stand apart from the competition.

In this article let’s get some of the common questions, answered. How do you set your company out from the rest? Why should people choose your store above the others, Here are some ways that can help you build a strong customer base for your liquor store: 

Create a loyalty program for customers 

The capacity to gain additional insights into client buying behaviors and improve overall customer experience are the two key benefits of customer loyalty programs. You can learn about your clients' shopping habits and what discounts appeal to them by evaluating your customer loyalty program data. Customers appreciate loyalty programs, which encourage them to return for more. One-time discounts, bundled discounts, point rewards, member-only specials, frequent shopper discounts, money back, and refer-a-friend bonuses are all examples of loyalty programs. Provide a fantastic purchasing experience every time, converting new customers into loyal customers, and increasing your competitive advantage.

North shore liquor store based in North Vancouver, British Columbia has created a loyalty program for its customers. Credits from North Shore Liquor Store's Loyalty Program can be utilized to save money on future purchases. This is how it works: name, phone number, email address, and postal code are all provided by you. Each additional dollar spent generates a point, which can be redeemed after certain thresholds are met. Loyalty Customers are also entitled to discounted monthly prices on select beers, wines, and spirits.

Provide special offers and discounts 

Free samples and promotions are a successful approach to attracting new consumers and maintaining customer loyalty. Offering special promotions and free samples has the added benefit of immediately increasing liquor store sales. You can set up a cocktail station where consumers may sample concoctions and purchase ingredients on the spot. Form strategic alliances with liquor producers. Drinks firms who are launching new products or wanting to enhance established lines are frequently willing to offer you promotional materials or hold promotional events at your location.

Zipps Liquors has been a true Twin Cities destination for superb alcohol service, selection, and knowledge for almost 50 years, and is located on E Franklin Ave in the wonderfully diverse Seward district of south Minneapolis. Zipps is the go-to store for all your keg and booze needs. Zipps Liquor’s monthly specials provide discounts on beers, wines, and spirits. The store also hosts private and in-store events for its customers.

To attract passing trade, run frequent specials. Offer bulk-buying discounts — "Buy one bottle, get one-half price" — and decrease the price of particular lines on a regular basis. Promote these discounts on a signboard outside your store or on posters in your window to ensure that potential customers are aware of them.

Offer bulk-purchase discounts. This can be accomplished by releasing a series of "Buy one, get one half price" deals, or by offering bigger percentage discounts to customers purchasing alcohol for special events or celebrations.

Understand your customer’s preferences 

Your inventory and sales are driven by your consumers' choices and purchasing behaviors. Finding out what your customers want while also figuring out what works best for your company might be difficult.

Sommeliers and cicerones who have been trained or certified have a basic awareness of most product categories and global manufacturing regions and can sell difficult products by hand, understand customer demands, and select the best products for those needs. Having someone on hand who is polite and enthusiastic about offering a positive client experience, on the other hand, might be just as valuable.

Submit a questionnaire regarding your liquor store to your present customers. Solicit comments on your current company practices and suggestions for how to improve.

Host events for your customers 

Hosting special tastings and events can be an efficient method to pique customers' interest in your products and bring in new customers. Some stores offer extra space that is ideal for hosting events, ranging from sit-down instructional seminars to stand-up or mingling-type events where people can network or learn more about a product style in an informal atmosphere.

Leora Madden, the owner of Pearl Wine Co. in New Orleans,  hosts weekly wine tasting events. Her tasting events, draw between 100 and 250 people eager to sample the 20 to 50 wines on offer. Madden claims that free weekly tastings, which are usually organized around a theme or region, have a "substantial" impact on business. The company also conducts weddings and other events. The tasting events account for 20 to 25% of Pearl Wine Co.'s sales, according to her.

Consider consulting a wine writer or sommelier about the wines you stock if you don't have a well-developed wine palate yourself. You may also hold wine tasting sessions with vendors to get your clients involved in the purchasing process.

You may also set yourself apart from the competitors by providing more personalized service. Learn everything you can about the drinks you sell and be ready to help your customers with their purchases.

You can purchase seasonally, regardless of the demographic profile of the area you're dealing in, various products will account for a larger share of your profits at different times of the year. During the summer, you can focus on promoting white wine, beer, and other lighter beverages, whereas during the winter holiday season, you can push spirits, port, and liqueurs.

Lastly, you can also consider staying open a couple of hours longer each day. Expand your business hours. You may be missing out on more sales if your store isn't open all of the hours that the state you're dealing in allows.

Article By Aakriti Rawat, Beverage Trade Network