Each year, hundreds of new brands join the wine and spirit industries – fighting for market share and consumers’ attention. What propels some brands on a path to growth, while others are destined to be forgotten? Quality product, brand awareness, consumer perception, advertising, promotions, merchandising, event marketing and countless other factors come into play (not to mention luck). Only the most successful brands strike the right balance at the right time, rising above the competition.
Since growth comes in many forms, the awards for both wines and spirits are split into four categories: Rising Star, Fast Track, Established Growth and Comeback Brand. Rising Stars are new brands that show great potential. Fast Track brands have grown steadily and are on the way to becoming category leaders. Established Growth winners are top-selling brands with a proven track record. And lastly, comeback brands are past winners that saw a temporary decrease in sales, but have since rebounded to at least their prior level.
The winners of this year’s Growth Brand Awards include 90 wine brands and 73 spirit brands, representing more than 60 different suppliers. “Although the growth brands accounted for roughly one-third of wine and spirit industry sales last year, they accounted for more than three-quarters of the industries’ growth,” says Adam Rogers, Manager of Information Services for the Beverage Information & Insights Group. “The Growth Brands are what propels these industries forward. Recognizing them as winners is essential and they deserve to be honored.”
The Growth Brands story will be available in our March/April issues of Beverage Dynamics, Cheers & StateWays magazines. It can also be purchased online at www.bevinfostore.com.