65: How David Parker Built Benchmark Wine Group into a $45M Rare Wine Powerhouse - Business of Drinks

In a wine retail landscape where most businesses are flat or declining, Benchmark Wine Group continues to post steady growth — reaching $45 million in revenue in 2024, up more than 12% from $40 million a year prior. And they’re tracking to break that record in 2025! 

So how are they doing it?! Benchmark is more than a high-end wine shop. Under the leadership of CEO/Owner David Parker, the company has evolved into a multi-pronged wine and spirits ecosystem, with a data and tech backbone that rivals Silicon Valley startups.

Benchmark is setting a new standard for what a modern drinks retailer can look like, with operations spanning from BenchmarkWine.com, to Brentwood Auctions, Benchmark Wine & Spirits in Washington, D.C., Wine Spectrum in Napa, and a powerful technology division — First Growth Technologies, which powers Wine Market Journal and Spirits Market Journal.

In this episode, David shares:

• How Benchmark’s rare wine focus, data infrastructure, and high-touch customer service helped it thrive while others contracted
  

• Why the company built five complementary businesses and how each arm — from tech to retail to auctions — supports the others
  

• How First Growth Technologies’ data fuels pricing strategy, inventory decisions, and trade relationships in real time
  

• Why Benchmark’s customer base is rapidly diversifying, with 30% of sales now coming from millennial collectors (!!)
  

• How the company sources inventory from well-documented private cellars, and what goes into its renowned “provenance guarantee”
  

• What’s behind the rise in interest for rare spirits, and why Benchmark’s D.C. location has become a critical growth engine
  

• How automation, APIs, and AI-driven personalization are shaping the next phase of digital growth — and giving customers better tools to discover and collect
  

• Why David says the company is constantly optimizing for efficiency, trust, and staying power in a complex regulatory and logistical environment

Last Call:

This week, we’re talking AI, automation, and a radically smarter sales funnel. Alexis Beechen, founder of agave wine brand Ola Sol, is reimagining drinks industry sales using tech tactics that feel more Silicon Valley than traditional beverage. She shares: How AI is helping qualify leads before her sales team walks in the door — with off-the-shelf tools that built a 51% email open rate and 10% meeting conversion. 

Don’t miss our next episode, dropping on May 28.

For the latest updates, follow us:

Business of Drinks:

LinkedIn

Instagram @bizofdrinks

Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies.

LinkedIn

Instagram @ericaduecy

Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. He currently serves as Head of Search at Distill Ventures. He was formerly the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor.

LinkedIn

Caroline Lamb, contributor: Caroline is a producer and on-air contributor at Business of Drinks and a key account sales and marketing specialist at AHD Vintners, a Michigan-based importer and distributor.

LinkedIn

Instagram @borkaline

SPONSOR: SWIG Partners is exclusively offering $100 off their supplier-distributor matchmaking fee when you mention the Business of Drinks podcast, or inquire via this link: ⁠https://www.swigpartners.com/businessofdrinks

If you enjoyed today’s conversation, follow Business of Drinks wherever you’re listening, and don’t forget to rate and review us. Your support helps us reach new listeners passionate about the drinks industry.

Thank you!