Business
LQR House Reports 458% YOY Revenue Surge in December 2023, Fueled by Holiday Ecommerce Success
MIAMI BEACH, FL / ACCESSWIRE / January 3, 2024 / LQR House Inc. (the "Company" or "LQR House") (NASDAQ:LQR), a niche ecommerce platform specializing in the
About this update from Lqr House Inc.
[{"type":"text","content":"MIAMI BEACH, FL / ACCESSWIRE / January 3, 2024 / 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 ...