In some emerging markets, concerns regarding safety are additionally helping drive at-home drinking culture. Succeeding in "home-tainment" means "not only bringing our bottles there," says Gilles Bogeart, CFO of Parnod Ricard (parent company of brands like Jameson and Absolut). Companies are looking to utilize the power of social media to organize parties and to share moments spent entertaining at home.
Here comes the BOOM- the craft boom that is. It seems all of the big brands are riding the wave that consumers are causing in the alcohol industry. Brands have been segmenting their products with the latest bell-ringing keywords like "handcrafted", "handpicked", "hand-labeled", "super premium", etc. Brands that highlight their stories and crafting methods are building authenticity that is shaping the industry's marketing benchmarks.
The infamous Tennessee whiskey brand Jack Daniel's has been known to do this recently with their labels Gentleman Jack, Single Barrel, Sinatra Select and Single Barrel Barrel Proof. These labels strategically introduce or reintroduce the true craftsmanship of their selections. Having optimal production methods as well as being available in optimal locations is not just something that mixologists and vendors care about, it's what consumers care about as well.
The liquor industry is interacting with the consumer much differently than what is considered traditional. Not only is marketing utilizing the digital age, but sales will be manufactured to be done through digital channels as well. Revenue from beer, wine and liquor online sales in the United States was forecasted to grow by some 6.5% to reach about 614 million U.S. dollars by the end of the year according to a statistic by Statista.
In 2017, there are a growing number of ways that liquor will be able to be sold via online platforms like The Liquor Barn, Drizle, and even Amazon. Whether you're new in the market or you've been successfully navigating your way throughout the years, pivoting with the digital revolution rather than watching it breeze by you would offer beneficial opportunities for your business growth.
No matter the industry, keeping up with the latest trends in your market is vital to keeping your competitive edge. Branding your business to align with these trends will keep your innovative spirit thriving and keep your consumers interested in the short-attention-span world we live in today. Click here to hear more about your branding effort and see what others are doing to stay ahead of the curve.