As people have started to adjust to the effects of Covid-19, alcohol e-commerce sales have grown immensely around the world. It is estimated that by 2024, it will exceed $40B (approx €33.25M). With this reference, California-based Vivino, a wine app and marketplace has secured $155M (approx €128.8M) in its Series D round of funding.
Heini Zachariassen, the co-founder of Vivino, credits the company’s growth to this continued shift in consumer behaviour. He says, “Our user retention rates are high, and we’re seeing a steady conversion of app users to wine buyers. That’s a good move in the right direction. By creating more value for our users, we also create more value for the company and industry at large.”