12/09/2022 – Beverages / Investment / DrinkWell / Alcohol / Low-Calorie / Low-Carb / Beer / Wine
DrinkWell secures £1m investment to scale up in the low-calorie alcohol retail space
DrinkWell, the low-calorie alcohol retailer, has secured £1 million investment from a private investor to fuel its ambitious expansion plans.
The funding will enable the Manchester, UK-based e-commerce retailer to scale – growing its team, while investing in product development including the launch of two new brands, Lean Brew IPA and Traces Wine.
In addition, DrinkWell has plans to add several new features to its retail business; expand into the European market and invest in marketing to further build its brand, plus drive recruitment, creating jobs across various areas of the business.
The increasingly health-conscious consumer
Over the last decade DrinkWell founder Tom Bell has been disrupting the alcohol market with several product launches in the low-calorie alcohol space, and more recently via the launch of a dedicated eCommerce store to cater to increasingly health-conscious consumers.
Recent Mintel data suggest scrutiny of the alcohol space has highlighted a need for brands across the sector to improve their credentials. The research also solidified the growing trend for low-calorie alcohol products, revealing that 33 per cent of drinkers pay close attention to the number of calories in drinks. Furthermore, earlier this year, the Alcohol Health Alliance found it is possible to reach the NHS’s recommended daily sugar limit by drinking just two medium-sized glasses of wine.
To add to this, according to the National Institute for Health and Care Research, obesity is one of the leading risk factors in ill health and death amongst working aged adults in England, costing the NHS £6.1 billion every year. The government research body also recognises alcohol calories are potential contributing factors to weight gain and obesity. Indeed, amongst those who consume alcohol, its consumption is estimated to account for seven per cent of female calorie intake and eight per cent of males. Consumers are largely unaware of the calorific content of alcohol, and many typically underestimate the true calorie content of alcoholic products.
Tom Bell, founder of DrinkWell, comments: “For the last few years I’ve made it my life's work to bring healthier alternatives to the masses, working tirelessly to help UK consumers who enjoy drinking alcohol, but are becoming increasingly concerned about the impact it can have on their health, to find better alternatives to the products they previously had access to.”
“The lifestyle drinks market is booming”
“The lifestyle drinks market is booming with innovation and more importantly, consumer demand, and DrinkWell is the home of both,” he continued. “We’re now seeing phenomenal demand for cleaner, lighter and healthier alternatives that don't compromise on ABV. For this very reason, I created a marketplace for exactly that.”
DrinkWell prides itself on giving consumers the facts to make an informed decision when it comes to their drink of choice. There is no ambiguity on the dietary information of its products, with everything from calories, sugar, ABV (alcohol by volume) and carbohydrates displayed for every product across the board – something the company has lobbied for the industry to follow suit on.
“The shift in consumer demand for lifestyle and healthier options is relentlessly accelerating. We are seeing so much growth in this space – and thankfully we have solidified our position as the retailer and now wholesaler of choice for those brands.
“Thanks to the investment we have received, we are also progressing our wholesale proposition directly into the trade – offering a one-stop shop to offer a ‘better for you’ drinks category,” informed Mr Bell, whose online retail business serves 40,000 customers all over the UK with its range of lower calorie wine, beer, cider, hard seltzers, spirits and premixed cocktails. “Plus, we have several more of our own label products launching over the coming months,” he added.
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