The liquor industry is experiencing 3 seismic changes

The liquor industry is experiencing 3 seismic changes

Our friends at Business Insider recently posted this article and we thought we’d share it.

Whether you prefer whiskey, vodka, gin, or rum, you may have noticed some recent shifts in the liquor business.

In an international, incredibly broad industry, it’s hard to know which trends are causing seismic shifts, and which are just blips on the radar.

So, Business Insider turned to Gilles Bogaert, CFO of Pernod Ricard, the parent company of brands including Absolut and Jameson.

Here are three trends you need to know about that Bogaert believes are truly changing the liquor industry:

1. ‘Home-tainment’ is a new way to drink.

While restaurants and bars have historically dominated the spirits market, Bogaert says that in 2016, the focus is on discovering new moments in which consumers are drinking.

At the end of the day, we [aim to] accompany the good moments of life with consumers,” says Bogaert. “People, more and more, want to have good moments with their friends at home.”

In the US and Europe, the shift is part of a growing movement to blur the line between entertaining at home and going out. In some emerging markets, concerns regarding safety are additionally helping drive at-home drinking culture.

For Pernod Ricard, the challenge goes beyond providing the correct beverages for the opportunity.

Succeeding in “home-tainment” means “not only bringing our bottles there,” says Bogaert. The company is looking into helping organize parties and using social media as a medium to share photos from moments spent entertaining at home.

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