How Whiskey Can Help Boost Your Bottom Line
Have you noticed that your customers are drinking more whiskey than ever? This is especially true when it comes to that ever popular demographic, Millennials. In fact, one report says that while Millennials are drinking less, they’re drinking more high quality alcohol. Irish whiskey is the fastest-growing adult beverage on the market!
So what’s behind the rise in whiskey sales? For starters, the huge variety of flavored whiskey is massively appealing to drinkers. Chances are, you’re familiar with Fireball—in 2013, sales nearly tripled! But the popularity of flavored whiskey goes way beyond Fireball. There’s also the American Honey (Wild Turkey) and Red Stag (Jim Beam), not to mention whiskeys flavored with apple and maple syrup. Even customers who don’t necessarily like drinking traditional whiskey will enjoy cocktails or shots of these flavored whiskeys.
It’s not just flavored whiskey that appeals to customers. Just as customers enjoy the novelty and uniqueness of craft beer, many customers appreciate small-batch whiskey and smaller distilleries. Just take a look at the story of Pappy Van Winkle, some of the most coveted booze in the world. Pappy is so scarce that some bottles sell for as much as $5,000—that is, if customers can even find a bottle. And now that Irish whiskey is growing more popular than ever (think a 20% increase in sales in the last year alone), more distilleries will be eager to get in on the action.
So how can this help your bar? First, pay attention to what your customers are drinking. Do their preferences follow this trend? Are they drinking more whiskey than ever? Be sure you’re stocking what customers want, whether it’s Fireball or something else. And don’t forget about your staff. Curious customers who want to explore whiskey might not know where to start, and they’ll need an expert bartender to help them figure it out. Don’t be afraid to mix it up by creating new cocktails or by offering shots. Flavored whiskey can be just as versatile as flavored vodka when it comes to cocktails, so try some experimenting!
Whatever you do, keep in mind that whiskey isn’t going anywhere anytime soon. Offering a wide variety to your customers (along with knowledgeable staff members) is the best way to boost your bottom line.