Park Street Insider Podcast Podcast Special— 2024 Industry Trends
Brand building in the spirits industry is always context dependent. What might drive sales in one market may have little relevance in another. The result is a necessity for brand's to understand the performance drivers, consumption habits and key trends in their target markets and channels.
On this special crossover episode, Chris Maffeo, host of the Maffeo Drinks Podcast, joins the Park Street Insider Podcast's Emmett Strack for a wide ranging chat on the key consumer trends propping up the U.S. and EU markets in 2024. The two explore the categories in demand in both sectors, the consumer behaviors driving purchasing in 2024 and considerations with brands to align with them.
In many ways, the compatibility between the U.S. and EU beverage-alcohol markets has never been stronger. With the U.S. on-premise at the frontier of the global cocktail scene, bars in major European cities are taking their cues from leading programs in New York, LA, and Miami. At the same time U.S. consumer's hunt for authenticity and new flavor profiles have made European spirits an object of desire. Emmett and Chris explore how key industry trends resonate with both the U.S. and EU markets.
Key topics mentioned:
The Intersection of Category and Flavor
- Emmett and Chris explore the key drivers of consumption for the average consumer in 2024. They dive into why SKU innovations along the lines of flavor are making it more likely than ever for consumers to drink across categories.
U.S. vs EU On-Premise Trends
- Four years on from the start of the pandemic, what's the pulse of the on-premise? The two explore the visitation levels and cocktail trends the industry can expect in the coming year from both U.S. and EU perspectives. They chat about the influence of the U.S. when informing the direction taken by the EU bar scene.
Categories on the Rise
- Emmett and Chris compare the different phases of adoption agave spirits have reached in the U.S. and EU. They'll explore the spirits categories set to gain the most traction between the two regions in the coming year.
In this episode you'll hear from:
Chris Maffeo, Founder, Maffeo Drinks
Mentioned in this episode:
The MAFFEO DRINKS Podcast
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