KEY TAKEAWAYS:

• Santa vs. The Grinch: Who's Version of the Holidays Will We Experience?

  • Santa (aka Danny Brager) believes it will be a strong holiday season for wine and spirits. Consumer's have not spent like they normally would the past few years but are ready to spend money on wine and spirits now. Santa also believes beverage alcohol is a reasonable and affordable gift to give during the holidays.

  • The Grinch (aka Dale Stratton) believes the wine and spirits industry will have a harder holiday season. He believes people are feeling the pains of inflation (food, gas, etc.) and rising interest rates, making them less likely to spend money on beverage alcohol.

• In 2022, we saw much broader consumer spending options – including entertainment, sports, travel and out of country. But, business related travel/spending not fully back yet.

• While overall inflation remains high, employment in the beverage alcohol industry remains solid.

• RTDs continue to drive spirits growth and are expected to continue to grow in 2023.

• Tequila has experienced a strong year to date growth for the segments over $25.00, followed by whiskey.

• In 2022, vodka has seen as loss in share for the segments below $10.00 and between $10.00 and $16.00.

• For wine, Prosecco has achieved sustained growth and the wine segments over $15.00 are showing strong growth.

• The options available on the shelf will continue to reflect consumer trends (think health and wellness, sustainability, etc.).