Dark spirits are premiumized with smaller and more experimental varietals
Implications - As darker spirits make a revival among Millennial consumers, varietals of whiskey, bourbon and rum are being further premiumized through the release of small-batch collections. Enticing younger consumers who want to participate in the exclusivity of higher end alcohol, the industry is getting more creative with the launches of new flavor combinations and celebratory batches, knowing that the Millennial demographic of connoisseurs has an appreciation for craftsmanship and experimentation.
Workshop Question - If you were to launch a small-batch of a product, how would you communicate its exclusivity to consumers?
Trend Themes
1. Craftsmanship and Experimentation - Craftsmanship and experimentation are driving the trend of small-batch exclusive spirits that include unique fusions of flavors that defy just one genre.
2. Aged Spirits - The trend of aged spirits is growing to include 40-year-old Scotch whiskeys and other rare aged spirits that are targeting discerning drinkers.
3. Premiumization and Prestige - Spirits makers are reviving the prestige of blended spirits, offering unique blends like Johnnie Walker Gold Reserve and engaging in premiumization through high price points, rare and limited editions, and celebratory packaging.
Industry Implications
1. Distillery and Spirits Manufacturing - Distillery and spirits manufacturing stands to benefit from the trend of small-batch exclusive spirits and aged spirits, by producing exclusive and unique products that appeal to discerning drinkers.
2. Food and Beverage - The food and beverage industry can learn from the trend of unique fusions of flavors in spirits manufacturing, capitalizing on the increased demand for hybrid and crossover flavors in food and drink products.
3. Luxury Goods - The trend towards celebratory packaging, premiumization, and high price points creates opportunities for luxury goods industries to attract and engage with a growing market of discerning drinkers.
