If you were looking for some positive outlooks for the current economic climate we hope you attended the Emerging Beverage Alcohol Trends, Implications and Future Outlook educational session, where industry experts asked International Wine, Spirits & Beer Event attendees to look up from the bottom of their glasses to notice we may be at the bottom of this downturn.
"We used to say that the beverage-alcohol industry was recession-proof," said Mike Ginley, partner, Next Level Marketing. "I don't think they say that any more. The new word is 'recession-resilient.'" Together with Stephen Beaumont, World of Beer, and David Pennachetti, Wine Guru Services LLC, Ginley led a discussion of what to look forward to in an area where the rebound is already being observed.
- Look for wines from Southern Italy, Greece and South Africa as previous hot regions such as South America become more mainstream.
- Some diners might be "trading down" in beverage choices, but they insist on choice. The seemingly indestructible craft and specialty beer segment is going strong, panelists said. Offering a variety of these options is key in an age where brand loyalty is out and the appreciation of wide selection is very in.
- It will continue to pay to offer "good, better and best" choices and price points on your wine list. Frugality is fashionable, off-premise has been growing, and takeout/BYO is trending upwards, but even 2008 saw net profibility in the beverage alcohol sector. The right mix of offerings still helps the bottom line.
- Cocktail innovation and premium brand selection is still driving growth in spirits, and we should expect to see growth in rum and tequila.
You can meet plenty of exhibitors to help you take advantage of these trends, as well as attend more educational sessions, at IWSB .
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