I’ll open with an important quote about this week’s focus – luxury spirits.
“It appears macroeconomic headwinds slowed the astonishing growth rate of luxury spirits sales of 2021 but were not strong enough to reverse the positive premiumization trend. Distilled spirits are affordable luxuries that bring spirits consumers great joy. Consumers are willing to spend extra for that special spirit and choosing to drink better, not more.”- DISCUS’ Christine LoCascio
Many consumers are now open to higher price point, but it comes with a catch! Consumers expect that the quality of booth the liquid and the packaging reflect that price point. I get it, distributors aren’t super jazzed to take on a new whiskey that is priced to retail at $59.99, but if you can create a brand that looks (aka packaging) and tastes (the fun part) AND has the organic demand for that product (marketing and brand awareness), then craft brands totally have a shot at riding this wave…
(although, not every analyst is in on the hype so read on for both sides of the aisle)
And now, the news…