Looking at the numbers of new product introductions entered into our DrinkTell™ database for 2016 plus the first four months of 2017, one could surmise that the opportunities for marketers to introduce new spirits products are pretty stable in the top four categories: Cordials & Liqueurs, Tequila/Mezcal, Straight American Whiskey, and Vodka. In the middle of the pack are Rum/Cachaca, Gin, Brandy/Cognac, and Single Malt Scotch.

New product introductions drive the entire beverage alcohol industry, exciting consumer interest and often sparking long lasting trends. They also invite investment. Significant entrepreneurial opportunities abound because major marketers are like a canopy of trees under which many healthy smaller trees can grow. The lure of building long lasting brand equity is strong.

A few days ago a former top level spirits company executive said to us, "This business is like the measles-if somebody gets it, everybody else catches it, too." He was responding to a comment about the number of senior people who are now investing in and managing the wave of smaller, more local (and higher price tiered) craft spirits start-ups. Allowing that there are challenges, he lauded this "new" economic opportunity. "People are going to make money."

Looking at median prices for the major categories of our 2016-2017 new products offers another, related perspective. Certainly the top product opportunities tie tightly to consumer trends-an ongoing cocktail culture (both on- and off-premise), the resurgent popularity of Bourbon and American Straight Whiskey in general, interest in Mezcal, in American brandy, and so on.

Moreover, the median prices in those categories look enticing. At the top end, bringing a Single Malt Scotch or a Japanese Whiskey to market suggests resources that are probably available to few. Many more, however, can navigate the route necessary to launch a Tequila or a Straight American Whiskey.

Want or need to know more? DrinkTell™ can provide you many additional details for a more focused look at these new product trends. The database includes country of origin, package size(s), proof, individual price points and notes with helpful information on many of the listed brands. For questions on anything we've discussed or to schedule a personal demonstration of DrinkTell™ just give us a call.