Kyle Sherrer is the owner of Backpack Brands of Newburgh, NY, which puts out three craft brands:
We recently sat down and spoke with Kyle about a range of topics:
The biggest takehome on the last point: In the current alcohol market, producers will need to keep on innovating in order to stand out. That different-SKU-each-week treadmill needs to keep on turning, and maybe even accelerate.
This was a very interesting conversation with someone who's found success in a broad range of markets, so it's well worth a watch or listen. His experience won't apply directly to most readers here (who own/manage bars and restaurants), but learning how innovative, cutting-edge producers strategically map out their next steps is interesting in it's own right. And there are definitely some broader lessons that can be applied to any alcohol-related business.
Check out the full interview here:Watch interview
According to the Distilled Spirits Council of the United States (DISCUS), 2022 was the first time spirits outpaced beer for alcohol marketshare. Here are the numbers:
DISCUS and others cited a few reasons for spirits' marketshare growth:
The million—or I guess billion—dollar question is whether current trends will continue. Will spirits continue to outperform going forward? Is beer destined for a wintery period? Something else?
We'll have to look to the data this time next year to find out.