Jensen’s Liquors Expands Its Presence In Miami’s Retail Scene

A 40-year veteran of beverage alcohol retailing, Eddie Cruz credits his success to staying focused on the needs of his customers and the diverse Miami neighborhoods his stores serve. The owner of the six-unit Jensen’s Liquors, Cruz says the stores have developed a reputation for “offering a unique shopping experience for our customers,” while satisfying their brand and budget preferences.

Cruz is a second-generation Miami-based beverage alcohol retailer. His father, Eduardo Cruz Sr., purchased the original Jensen’s, located on SW 27th Avenue in the city’s Little Havana neighborhood, in the late 1970s. As a teenager, Eddie helped out at the store. In 1988, with a little help from his father, Eddie purchased his own store on NW 27th and expanded the Jensen’s banner. By 2016, Cruz had added three more stores to the franchise—on NW 17th Avenue, NW 7th Street, and North Miami Avenue—while also acquiring the flagship store from his father.

Today, Jensen’s Liquors—whose stores range 2,200-3,300 square feet in size—employs 45 workers and has revenues of $15.8 million. As with other Florida liquor stores, spirits are the chain’s driver, accounting for 55% of annual sales, followed by wine at 30%, beer at 10%, and miscellaneous items at 5%. And expansion continues; earlier this year, Cruz brought the total number Jensen’s stores to six, opening a second location on NW 17th Avenue in the city’s historic Miami River district, where a massive neighborhood redevelopment is underway. Cruz was recently named a 2019 Market Watch Leader.

Miami’s cultural diversity has been a catalyst for Jensen’s growth. Cruz has been a keen observer of demographic trends, seeking out emerging neighborhoods for new sites. “I look for a place that has a good neighborhood behind it with good traffic, where people live and work,” he says. “And I look for up-and-coming neighborhoods. There’s a lot of investment in the Miami River district, with new shopping centers and apartment buildings going up regularly.”

Jensen’s offers some 4,000 spirits SKUs. “While vodka has slowed down, Tito’s remains on fire,” Cruz says. “Bourbon and single malt Scotch are also huge, and Tequila is moving toward the high end,” with such brands as Don Julio 1942 ($140) driving growth. Mezcals like Ilegal ($40) are also performing well, and Jensen’s roster of single-barrel spirits offerings have been well received. The chain has partnered with the likes of Herradura Tequila, Jack Daniel’s Tennessee whiskey, and 1792 Bourbon on exclusive barrels in recent years.

Cruz sees particular opportunity with craft and other small-volume spirits. He points to growing demand for labels like High West Yippee Ki-Yay rye whiskey ($80 a 750-ml.), WhistlePig 10-year-old rye whiskey ($85), and Four Roses Small Batch Bourbon ($30). “We’d like to continue to explore small-batch and craft spirits as a way to differentiate ourselves from other stores,” Cruz says.

Wine is a growing category at Jensen’s as customers increasingly trade up. The stores stock about 2,500 wine SKUs. “When it comes to wine, our stores are known for pricing and selection,” Cruz says. “We try to offer the best quality and price for every wine so our customers get more bang for their buck.” While the stores are not yet offering private-label wines, Cruz notes he’d like to do so in the future. Market Watch has more on Jensen’s and the Miami retail scene. —Terri Allan

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