Classically known as the time for resolutions, the new year beginning each January typically brings forth pledges to make changes for the better, to set goals, and to make the upcoming year better than the one just past. Here at Liquor License Advisor, we urge you to take a close look at your business, whether it be a lottery-liquor store, boutique wine shop, restaurant, or any variation of these, and to get creative to make 2023 the best year for your business yet. We’d like to share a few ideas with you to get innovative, creative – and successful this year, despite the ongoing challenges presented by inflation and the troubled supply chain.

We had a question and answer session with Dan Newcomb of Liquor License Advisor about the year that’s past and what’s to come for the liquor license industry in 2023.

What was the most common question you got from liquor store owners in 2022? What about restaurant owners?

Over the course of 2022, the most common question that has been a theme amongst liquor store owners is how to maximize the sale price of their store, having sales trending downward since the pandemic. Potential buyers have been requesting 2022 sales because they feel like they reflect earnings before COVID. Since the pandemic, owners have been trying to rejuvenate their business model to stay competitive, and now, with the challenging economy, owners are once again feeling the sense of unsettlement that they had hoped was over. Our team has the knowledge and understanding of the industry, especially during these times, to ensure our clients receive the maximum return on their investment. From start to finish, we help our clients with financial positioning, identifying key team members (attorneys, accountants, etc.), marketing, finding the right buyer, and closing out the sale.

The holiday season is upon us, and it is time to think about what beverages to stock up on and showcase at your store to make gift-giving seamless for your customers. Whether the gift is for a party host, co-worker, friend, or family, we’ve been paying attention to the most popular trends, and here’s what you need to know in order to stay competitive this season.

BevAlcInsights by Drizly forecasted this season’s top alcohol gifts based on 2022 sales and gifting trends in their recent article, “2022 Holiday Gift Guide for Retailers”. The report encourages retailers to stock up on luxury beverages such as champagne, premium red wine, and high-end spirits.

Based on Drizly’s 16% increase in the average unit price of gift orders from 2021 to 2022, Drizly’s head of consumer insights, Liz Paquette, anticipates that consumers will spend even more this year. Forbes reported on the increase of luxury beverage sales in their recent article, “Drinkers Continue To Spend As Sales Of Luxury Booze Grows 23%. But Is It The Category Recession Proof?”. The answer, for the foreseeable future, is yes, as luxury spirits continue to thrive, the most noteworthy being tequila and American whiskey.

This data comes as no surprise since the holiday spirit boosts consumers’ tendency to splurge when purchasing special gifts, but it is also important to recognize diverse budgets in order to maximize consumer sales.

In our latest Advisor Magazine, we included a campaign ad produced by the 21st Century Alcohol Retail Reform Committee outlining why you should vote yes on question #3. The video explains that locally owned package stores, independent markets and convenience stores initiated the ballot question. Not only will voting yes help save Massachusetts small retailers and package stores, but it will support consumer convenience, public safety, and tourism. 

Visit https://www.yeson3mass.com/ for more information on how you can support this campaign!

According to the 21st Century Alcohol Retail Reform Committee, voting YES on Question #3 will allow for the safe and convenient expansion of alcohol sales. Question #3 will:

1. Promote Consumer Convenience 

Progressively increase the number of allowed beer and wine licenses from 9 to 18, minus any full liquor licenses owned. The number of full liquor licenses will be set at 7.

2. Promote Public Safety

Prohibit self-checkout of alcohol and change the fine for selling to a minor applicable to gross sales rather than just for alcohol.

3. Promote Tourism

Allowing valid out-of-state IDs to be relied upon by a retailer will increase access to alcohol in a reasonable and responsible way.

There are many ways you can help promote the Vote YES campaign, including making a donation to the “21st Century Alcohol Retail Reform Committee”; adding the “Vote Yes on 3” logo to the end of your email signature, your store newsletters, and/or website (by copying & pasting the logo); placing “Vote Yes on 3” signs in your store’s window, etc.

To learn more about what you can do to support this campaign, please visit:

https://www.masspack.org/Ballot-Initiative

A highly anticipated debate in Massachusetts is preparing to finalize a decision on November 8, 2022, after votes are made on ballot question #3.

Ballot question #3 concerns off-premise alcoholic beverage retailers and the number of licenses that an entity is allowed to hold. Voting YES will allow entities to ultimately hold eighteen beer and wine licenses, an increase from the nine currently allowed. (This increase will be gradual.) Voting YES will also decrease the number of full liquor licenses from nine to seven. Ultimately, a YES vote will help restore balance in the off-premise retail industry.

Voting YES on ballot question #3 will not only support consumer demand and promote equal opportunity for all retailers, but it will also help save local businesses by preventing big corporations from dominating the market. Voting YES will further assist local businesses and better public safety by prohibiting self-checkout of alcoholic beverages and establishing a fine for selling to a minor applicable to the total amount of purchases, rather than just for the alcohol purchased.

Voting YES will aid in expanding tourism and increasing the customer base in Massachusetts to allow retailers to accept out-of-state IDs, as we are currently the only state that does not force retailers to reasonably rely on valid out-of-state IDs.

Liquor License Advisor encourages you to vote YES to not only support local business but also to increase the demand for your license, as well as increase the return on your investment over time. We support our clients and business models that we’ve helped establish over the years, and it’s important to us that you are successful. Reach out to us any time with questions. We’re here for you.