TRIP REPORT
beverages onto retail shelves , so bringing that existing framework to the cannabis industry will help drive normalization and put this in places where consumers can experience cannabis .”
Both Epstein and Burkons explained that there ’ s so much opportunity here for the hemp beverages looking to work within the existing three-tier system , to grow their market share and create a path to the basics of some of the manufacturing and distribution processes .
WSWA Access Live 2024 Showcases Changing Alcohol Consumption Trends
by KRYSTINA SKIBO
Caesar ’ s Forum was brimming with excitement as wholesalers , suppliers , onand off-premise retailers and more gathered for Wine & Spirits Wholesalers of America ’ s ( WSWA ) Access LIVE 2024 in Las Vegas . The multi-day event brought together around 2,500 beverage alcohol attendees all under one roof to network and discuss areas of growth and challenges in the industry .
There was a lot that was on everyone ’ s minds , which could be seen by the variety of topics that were discussed throughout the event . From cannabis-infused beverages and low- and no-alcohol options gaining traction to retail theft and inflation concerns , no stone was left unturned .
TAKING LESSONS FROM THE BEVERAGE ALCOHOL INDUSTRY
Probably one of the biggest hot topics discussed was on cannabis-infused beverages . In the exhibit hall , cannabis beverage brands took up an entire corner — lining up the rows to showcase their drinks .
Pamela Epsetin , Chief Legal and Regulatory Officer , Terpene Belt Farms , was one of the few speakers trying to spread education and awareness about this upand-coming trend . “ There is a demand — people want cannabinoids in everything . As we do that , there needs to be a desire to infuse standards of consumer safety and health in the marketplace ,” she said .
Instead of trying to push these brands away , Epstein and Rachel Burkons , Founder of Smoke Sip Savor , both advised that there are countless ways the cannabis industry can learn from the beverage alcohol industry to bring consumers what they want in the safest way possible .
“ Beverage is the tip of the spear in bringing cannabis and hemp to the masses because everyone understands beverages ,” explained Burkons . “ There ’ s water , coffee and moments attached to beverages . So it ’ s a great way to bring an entirely new category to a consumer who maybe won ’ t pick up a joint or an edible , but already understands beverage as a broad category .”
Burkons continued , “ There ’ s a solid infrastructure in distributing and getting
SIPSOURCE FORECASTING AND TRENDS
A news release sent to Beverage Wholesaler mentioned key trends for wine and spirits sales from year-end 2023 and moving into 2024 that SipSource Analysts Danny Brager and Dale Stratton discussed at a panel during the event .
Analyst Dale Stratton noted wholesaler inventories for wine , spirits and beer are at historic highs . Consumers and retailers alike are pulling back , resulting in decreased demand . " In a constrained market ," Stratton said , " more items aren ' t likely the answer — it ' s about the right items ."
In spirits , ready-to-drink ( RTD ) premixed cocktails continue to drive the category forward , with tequila prospering . Higher-end price tiers will continue to slow , with the best rates of growth in the mid-priced groups .
Wine continued to decline , Brager said , but with white varietals doing better than reds . Prosecco growth remains healthy , and the growth in port ( driven by a TikTok trend ) is moderating . Table wines in the $ 11 to $ 25 tier are performing the best . Luxury wines continue their premiumization slide , though SipSource projects that will moderate later in 2024 . www . beveragewholesaler . com Summer 2024 • Bevearge Wholesaler 5