“ People have a taste for affordable luxuries to treat themselves , and something like a nice whiskey fits right in that .”
8 American Whiskey Trends
“ People have a taste for affordable luxuries to treat themselves , and something like a nice whiskey fits right in that .”
– Nicole Austin , general manager and distiller at Cascade Hollow Distilling Co .
groups in droves . Across the country , groups for cities , regions or states have doubled , tripled or even quadrupled in membership . Reaching thousands of people in a single group has become common .
“ New Jersey is a great showcase ,” says Paladini . “ Before Covid , Jersey had maybe one bourbon group . By the middle of 2020 , I think there were 20 and 30 , each with 300-400 members . And the groups continue to explode in numbers .”
Naturally , this affects local whiskey markets . When a bottle becomes trendy in a group , posted by everybody , it disappears from retail shelves . Good luck finding Blanton ’ s , E . H . Taylor , JD 10 or A Midwinter Night ’ s Dram . Want a Weller ? Wish upon a star . At the same time , social media has allowed brands to grow faster , and connect personally with consumers unlike ever before .
“ We want to get to know and have real interactions with our consumers ,” says Montgomery of Blue Run Spirits . “ I personally answer people on social media . I ’ ll include a personal detail . If I see they recently took a trip , I ’ ll say , ‘ I hope you enjoyed your vacation ’. We ’ re trying to be part of the family .”
That family is increasingly comprised of hardcore fans on social media . Savvy brands tap into these collective consumers , as the social media groups grow in size and influence .
8 ) Whiskey Prices Climb Higher
Follow any of these groups and it ’ s among the hottest talking points : whiskey prices are going up , up , up , up , up .
Retailers increasingly stock trendier brands for prices that people pay on secondary . On social media , these shops have received the derogatory nickname , “ museum .” Enter to see the rare , dusty exhibits — behind glass , and at prices you couldn ’ t possibly afford — and then exit the museum . ( But someone must be buying , right ?)
These “ museums ” now skip the middleman , the lifeblood of the secondary market : the flipper .
In defense of flippers : It should come as no surprise that whiskey has developed a robust secondary market . Wine has had one for a long time . Same with countless other hobbies with high-end , limited products . such as cars , knives , watches , Pokémon cards .
Big demand with limited supply means that sought-after items naturally rise in price . And people look to profit .
Yes , it ’ s unfortunate that the secondary market prices more people out of obtaining trendy bottles . But this is not a sign of a broken system . Much the opposite , a big secondary market indicates that whiskey is flourishing .”
“ Some Scotch bottles can fetch $ 50,000 ,” says Paulus of Justins ’ House of Bourbon . “ With bourbon , only a few brands can fetch those prices right now .
Looking at MSRP alone , she says , “ bourbon is still so far behind the rest of the world . I ’ d like to see more bourbons valuing themselves at what I think bourbon is worth .”
A lot has changed , Paulus notes . “ Paying $ 3,000 for a whiskey was inconceivable 20 years ago , when there were only nine distilleries in Kentucky , struggling to stay afloat .” And yet , not all whiskey is highly priced . “ It ’ s real mixed depending on where you are ,” says Austin of Dickel . “ You ’ re seeing rising prices on some whiskeys . That ’ s us as consumers of high-end whiskeys looking at it narrowly . In the category in general , there ’ s still a lot of affordable whiskeys out there .”
“ That ’ s something I personally take pride in , trying to provide whiskey at a fair price ,” she adds . “ Of course , I don ’ t control what happens at retail . And I definitely don ’ t control what happens in the secondary market . So I think regardless of my thoughts on the subject , they ’ re all going to go on and continue to do what they do .”
Add in continued disruption of shipping and production , and whiskey prices will almost certainly head higher in 2022 . Some retailers may still stock trendy bottles at or near SRP , but these “ honey holes ” are drying up fast .
That ’ s because the product is amazing , everybody wants it and there isn ’ t enough . The quality of American whiskey has never been better — and consumer demand never greater — with no end in sight . Long live the modern golden age of American whiskey .
www . cheersonline . com Fall 2022 • 37