What Alcohol Is In Store For 2022?

The key to success in 2022 is going to be preparation and awareness. Support of small businesses was a hot topic during the pandemic where people wanted to help businesses stay afloat, but realistically sometimes it’s more convenient to make a purchase from the big guy.

CEO of LLA, Dan Newcomb, discussed in Advisor Issue #10, the trend in 2021 of consolidation is going to continue with the future ballot question, “the bigger stores are going to get bigger, and the small guys are going to be few and far between. There’ll be less smaller liquor stores in Massachusetts in 2023 than there was in 2021”.

Across alcohol retail sales in Massachusetts, a future ballot question proposes the number of liquor licenses to increase from 9 to 18, and it’s going to provoke commotion. With a forecast of consolidation in mind, it’s crucial that existing owners are attentive to what’s going on in the industry.

If you were presented with the opportunity to execute a quick sale today, would you be ready? You’re going to want to be prepared to maximize your return on investment and we can help you create this plan.

It’s no surprise to many that the supply chain issues have had a major impact on the alcoholic beverage industry. We advise liquor stores to formulate a plan to ensure consumer demand is met, by always having their best-selling products in stock. The key takeaway here is that your best-selling products are highly likely to stay favorable, so stock up now in order to meet consumer demand.

 

In the age of conscious consumption, sustainability and being environmentally cautious is not going to disappear anytime soon. Consumer demand for more transparent products has significantly increased in the past few years. Selling and marketing organic alcohol is a simple way to introduce sustainable products into your business plan.

Upcycler’s Lab reported, “Organic Alcohol is produced in a way that promotes the sustainability of our planet. Companies producing organic alcohol aim to minimize their impact on the environment by using alternative energy sources, reducing waste, and recycling”.

Preparation and awareness are the keys to success for operators in 2022.

 

For more articles on the liquor industry – check out The Advisor Magazine – Issue 11.