Going Digital is the new buzzword as more and more consumers are resorting to online shopping and digital experience for the convenience and cost effectiveness it offers. The spirit industry is no exception to this prevailing trend. In a bid to offer an innovative digital experience, the leading spirits distiller Diageo plc. (DEO - Analyst Report) and the online giant Amazon.com Inc. (AMZN - Analyst Report) have collaborated to develop a whisky education app – Johnnie Walker Skill. The app like a mentorship program offers consumers the chance to experience the full Johnnie Walker portfolio and learn about the brand's rich history.
This digital mentorship program, Johnnie Walker Skill can be downloaded via the Amazon Alexa app and it will be guiding visitors through personalized tastings. The program recommends blends across the portfolio, provides practical whisky tips and recommends unique cocktail recipes.
The app, also helps the participants shop for the liquor of their choice. Moreover, it offers customers the facility of purchasing Johnnie Walker for gifts, hosting at home tasting or enjoying some world class cocktails through the app.
Diageo is greatly focused on product innovation in the growing spirits and wine market. Further, the spirits and wine market is benefiting from favorable demographic trends. The baby-boomer generation is reaching its peak spirits and wine consuming age as they reach their 50s and 60s both in Europe and US.
Additionally, younger generations are consuming more spirits. The company is well poised to capture the growing market of spirits and is innovating newer varieties of spirits to attract the growing consumer base.
Diageo currently carries a Zacks Rank #3 (Hold).
Other Stock Picks
Some better-ranked stocks in the industry include Constellation Brands Inc. (STZ - Analyst Report) which carries a Zacks Rank #2 (Buy) and its earnings are expected to grow by 17.7% in the long term. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Craft Brew Alliance Inc. (BREW - Snapshot Report) also carries a Zacks Rank #2 and has an expected long-term earnings growth rate of 25% in the next 3-5 years.
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