The Rise of Nolo and its eCommerce Potential
This isn’t limited to eCommerce trends 2021 either. Even before Covid-19 hit the globe, the concept of alcohol free beverages was on the rise. Whereas lockdown encouraged many of us into enjoying a cheeky cocktail or two throughout the day while we were trapped in mind-numbingly tedious quarantine, this trend only grew for many.
Alcohol is one of the oldest toxins known to man. We have been making it for thousands of years fully aware of the pleasurable effects of our consumption, but now we have the benefits of science.
With the knowledge of the damage that alcohol can cause, mindful drinking has now taken root. Not just avoiding binge-drinking, but carefully calculating why, what, and how much alcohol we consume.
Trying to gain the best of both worlds. An attempt to savour the parts of our favourite drinks that we love without the negative side effects. The bubbling texture of a beer, the aromatic fumes of a heady wine, but with the toxicity removed.
It’s a name given to a cultural trend that has been floating around for a while. Sober October has been in existence since 2010 as a charity event, whereas dry January began in 2013.
Even before that, we could visit the American prohibition. However, we have one thing that they didn’t have back then - Nolo.
Nolo has grown to become the official name of a trend based in wellness and eCommerce. As the concept grew, so did the name.
And now businesses are too.
Companies are launching on the Nolo eCommerce bandwagon, with the world’s largest family-owned spirits company Bacardi tapping into the growing trend to launch a campaign that is expected to value $500 million by the end of 2024.
It’s a fascinating subject for eCommerce business owners.
Do alcohol-free drinks class as soft drinks? Are low-alcohol drinks going to be forced into the 18+ liquor sections of stores?
Important eCommerce business tips for Nolo
For businesses searching to hop on board with the Nolo bandwagon, important aspects must be considered, both legally, and from a marketing point of view.
Nolo beverages are closer to alcohol than soft drinks.
It’s not just the taste and smell that define nolo drinks. Despite the fact that a zero-alcohol beverage may appear to be a flavoured soft drink, the target market is the most defining aspect.
Soft drinks are primarily targeted towards younger markets, after all - how many 13-year olds enjoy the taste of beer? Nolo is targeted towards individuals who already consume alcohol as an alternative choice.
Pubs and supermarkets already place zero-alcohol drinks within their alcohol sections. The purpose of the products is the same. They share the same distribution channels, sales outlets, producers and branding.
They are de facto in the alcohol market, yet not alcohol.
Now as we are seeing the nolo trend continue. In October 2020, a survey by Perspectus Global found that 48% of UK respondents planned on taking part in dry January. With 24% of those doing so, taking part for the first time.
While a great deal of us enjoy a responsible drink from time to time, there are currently many looking for a healthier, cleaner alternative.
What does this mean for business owners?
With the Nolo industry expected to grow to be worth over $25 billion dollars by 2024, the only issues appear to be keeping up with demand, marketing, and making sure you have the right financial help available.
After all, Athletic Brewing is a company with a meteoric rise. After opening in May 2020 it has been growing on average at 400% monthly!
With such prospects on the horizon for eCommerce business owners, you deserve the support required to handle your growth and manage your finances. Whether it’s tools to reinforce your CFO, or taking care of your bookkeeping and taxes, you require professional, affordable help.
With Accountancy Cloud we have you covered. From startups to SMEs we offer a broad range of financial services to keep your business running smoothly. We integrate with your existing financial softwares to take care of everything. We take a weight off your shoulders and let you focus on the big decisions.
Then pour yourself a nice glass of alcohol-free wine while we take care of business.
Or regular wine if you fancy it - we won’t tell anyone!