Singapore Business Awards this week announced Pop Up Wine ‘Singapore’s Best Wine & Champagne Retailer’ in their 2021 annual business awards.
The award comes amidst the world’s focus on Singapore as the N# 1 emerging market for international wine producers according to a recent report by industry heavyweight, Prowein.
Prowein has estimated that in 2021 the wine market in Singapore will reach a market value of US$1.4 billion, registering an average wine consumption of four bottles per capita.
This is good news for online wine merchant, Pop Up Wine which launched eight years ago offering Singapore wine buyers access to premium wine at below retail prices. With no bricks and mortar store, the company sells exclusively online to maintain low overheads to offer cheaper priced wine. Being online has also enabled Pop Up Wine to scale quickly for rapid growth. The strategy paid off with the company experiencing 65% annual growth since launch and 167% growth over the past year.
Veteran Asian liquor entrepreneur, Nicolas Olivry said Pop Up Wine was considered the pioneer of Singapore’s online wine industry, and had set new benchmarks for wine retailing in Asia. This motivated him to invest in the company in 2019.
Online wine retailing in Singapore is also expected to grow according to a recent Report by Euromonitor International. It found that internet retail would continue to be the fastest-growing off-trade channel for wine in Singapore and would continue with major online retailers likely to appeal to a tech-friendly consumer base seeking competitive prices and uncomplicated purchases.
With the Singapore Government encouraging retailers to go online to increase their commercial success through grants and other incentives, news that an online retailer has won the ‘Best Wine & Champagne Retailer’ amidst tough competition from traditional wine stores and established liquor companies, should act as encouragement for those Singapore SME’s considering adding an online channel to their business.
This is the seventh award the company has won since launch, with Co-Founder, Isadora Noble voted an ‘Expat Entrepreneur of the Year in 2019’, and Best Wine Retailer by Singapore influential by Honeycombers.
Co-Founder, David Harker said, “The company remains focussed on offering value and service to Singaporean wine buyers. Pop Up Wine has expanded rapidly over the past year and is poised for further domestic and regional growth.”
The company recently expanded its offering to include whisky, launching Singapore’s first premium whisky store in January 2021. Like Pop Up Wine, Noble Whisky.com sells exclusively online, and offers discount priced premium whisky.
About Pop Up Wine
Pop Up Wine is Singapore’s most popular online wine store offering more than 200 different award-winning wines, priced from $27 and delivered same-day. All wines are hand-selected by Pop Up Wine’s wine experts and represent unquestionable value.