As you might know, I work in the Craft Beer industry. As it is with any other industry, the economy is a big topic – specifically which segments of the adult beverage industry will benefit or suffer.
According to retailers, wine is struggling – especially expensive wine – and Craft Beer is hanging in there.
Why is that?
I can come up with two reasons:
- Price: A 6-pack of GREAT beer is still less expensive than an average bottle of wine.
- Branding: Expensive beer is Craft Beer and expensive wine is just expensive.
The beverage segment that was originally known as “micro brews” has done a great job of branding itself as something more than just “small” or “expensive.”
Consumers that drink craft beer know that the name is more than industry segmentation. They know that its a community of people dedicated to creating and brewing unique, quality beers. Community is uber important these days and it’s a huge point of differentiation when consumers have tougher choices to make.
Side note: A lot of the credit here goes to the Brewer’s Association for all of their hard work in representing the craft brewing industry and marketing all of the passion and hard work all the breweries contribute.