Virginians buy nearly $1 billion worth of alcohol in record-breaking year
RICHMOND, Va. (WSET) -- The Virginia Alcoholic Beverage Control Authority has announced its 20th consecutive record-breaking year as sales for 2018 topped $984.8 million, up $43.6 million over the previous year.
During the same time-frame, retail sales grew 4.5 percent and licensee sales (sales to restaurants) climbed 4 percent.
ABC officials said during the fiscal year 2018, they opened five new stores across the state, generating $5.4 million in sales.
They also oversaw 11 store remodels and two store relocations to improved market areas, enhancing customer service and accessibility.
Sunday sales also are helping in the rise in revenue, as they increased by $14 million to $74 million in 2018, with an additional hour of opening.
"Our strategy to continue to grow our store portfolio puts us on a course to exceed $1 billion in gross sales by the end of the 2019 fiscal year," said Chief Executive Officer Travis Hill. "Of course, reaching such an incredible milestone would not be possible without the outstanding efforts of our full and part-time employees. It is due to their work that we are able to tout these achievements."
According to fiscal year 2018 sales, the top five brands purchased in Virginia ABC stores are:
- Tito’s Handmade – domestic vodka
- Hennessy VS – cognac/armagnac
- Jack Daniel’s 7 Black – Tennessee whiskey
- Jim Beam – straight bourbon
- Fireball Cinnamon – imported cordial
Of the five top sellers, Tito’s Handmade domestic vodka saw the most impressive leap in sales, from $25 million to $33.5 million, followed by Jim Beam straight bourbon from $20.4 million to $21.5 million, a 5.3 percent increase over fiscal year 2017.