Beverage Dynamics Summer 2024 | Page 14

GROWTH BRANDS
RISING STAR
FLAVORS APPEAL
A large part behind the success of a winning brand like Ole Smoky is their impressive collection of flavors that connect with consumers .
“ In 2023 , Ole Smoky introduced innovative , unique and quality products showcased in its four distilleries like Tennessee Straight Bourbon Whiskey , Pink Lemonade Moonshine , Chocolate Peanut Butter Cream Moonshine and Moonshine Mandarins , as well as a national release of the Banana Whiskey and Orange Shinesicle Cream Moonshine ,” says Ensign . BuzzBallz captured sales last year through similar , flavor-driven strategies . “ Our top SKUs this year were our wine-based Choco Chiller and spirits-based Tequila ‘ Rita ,” says Bouldin . “ This has been consistent for the past few years , in part because of our increased distribution and sales in the chain space . We created anticipation this year with limited holiday runs of pumpkin , eggnog , and cookie flavors that incentivized our consumers to go out and get their hands on the exclusive holiday options .”
It ’ s a similar sentiment across the industry : flavors pique consumer interest , which generates sales .
“ Our hero Mozart Chocolate Cream drove the majority of sales , but all three of our core SKUs — Chocolate Cream , White Chocolate Cream and Dark Chocolate — saw triple-digit growth in depletions ,” says Manger of Marussia Beverages . “ We ’ re excited to launch Mozart Coconut Cream Liqueur this summer . We will be launching it at Tales of the Cocktail this year .”
The vodka-infused whip cream brand Whipshots also captured sales through new and popular flavors .
“ Whipshots core flavors — Vanilla , Caramel and Mocha — consistently drive strong sales , maintaining their appeal with returning customers ,” says Dreyer . “ However , Whipshots ’ release of new limited-edition Lime , Pumpkin Spice , and Peppermint flavors were able to capitalize on seasonal trends and provide consistent news for the brand .” The range of new flavors in the portfolio offered a diverse array of options , “ which allowed buyers to purchase a can based on their preferences and specific occasions throughout the year ,” he says .
“ By tapping into the appeal of seasonal flavors , Whipshots attracted both new and returning customers , driving sales through their limited-edition offerings ,” Dreyer adds .
Many brands see new flavors as an innovative way to expand product lines .
“ Ancho Reyes recently released Ancho Reyes Barrica , a refined expression of the beloved Ancho Reyes original liqueur , with the introduction of ex-bourbon barrel aging for added richness , depth and complexity ,” says Sengara of Campari America , of the Rising Star winner .
“ This release marks the first-ever barrel-aged chile liqueur , and the first new offering from the Ancho Reyes portfolio since the successful release of Ancho Reyes Verde in 2017 .”
LOOKING AHEAD
While many folks are quick to point out how U . S . spirits sales have slowed here in recent time , it ’ s important that we remember this is not the case globally . Much the opposite , actually .
“ The U . S . is still the largest market for Woodford Reserve , but our sales are growing rapidly globally ,” says McCall . “ Woodford Reserve had a successful past year — still growing as brand even though total distilled spirits slowed overall . We are also continuing to increase our distribution points both in the United States and globally .”
Even if overseas sales do not qualify for Growth Brands Awards , they serve as an important source of revenue for many products . With sales slowing somewhat in America , spirits products can still flourish thanks to extra revenue generated by global purchases . Though if the White House changes hands to a president more inclined towards tariffs , that ’ s a potentially different story .
Otherwise , look for more of the same in 2024 . Premiumization should lead , followed by the trendiest innovations . Especially if the U . S . economy continues to perform better than analysts had predicted .
The post-Covid recession that so many had predicted , fueled by inflation , has so far not reared its ugly , ruinous head . Instead , inflation has cooled to moderate levels while consumers , though cautious , remain willing to spend . •
14 Beverage Dynamics • Summer 2024 www . beveragedynamics . com