Liquor stores have been and still are one of the most popular and a profitable business, as the demand for the products sold by them does not go down.
The main advantages of this type of business include:
- Steady demand
- Product shelf life
- A wide range of consumers
- Booms during the holidays
Disadvantages include a high level of competition and legislative restrictions.
The competition in this market is really very high, and in order to have a competitive advantage, the store should sell other products besides alcohol. Related products can be coffee, juice, glasses, cigarettes, bar accessories and party products (they are easy to sell especially in liquor stores located near a college town and may include drinking games, but also party decorations).
The different assortments of chocolate and gift sets work great with a nice bottle of wine or an expensive liquor. So, a liquor store should also sell such products, for last minute gift shoppers and to make available wholesale bar supplies for home bars.
Items that compliment the purchase are also popular among the clients of liquor stores. So, consider also selling mixers, koozies (for beer lovers), wine stoppers etc.
Not least, some liquor stores sell grocery items including snacks that are easy to grab and go (chips, peanuts, candies etc.) and specialty items, such as specialty cheeses that wine consumers will appreciate very much.