Amanda Victoria fell in love with educating people on the nuances of authentic, family centric products during her time and travels as a brand ambassador. When she came to a point in her career where compromising her own values was no longer possible, Victoria merged her passions as a bartender and spirits educator to create her own RTD cocktail. After launching her product into a booming RTD category, Victoria is sitting down to discuss her experience.
On the latest episode of the Park Street Insider Podcast, Amanda Victora, CEO of Siponey, tells us about her entrepreneurial spirit and winding career path in the beverage-alcohol industry. Victoria shares how personal experience informed the creation of her brand and the attention to detail required to make a premium product. She opens up about maintaining a family business during the pandemic, including the ways Siponey has had to adapt to ever-changing producer and distributor dynamics.
“As a brand ambassador you embody the brand so much so that, at the end of the day, you can oftentimes be left feeling a little empty that you don’t truly own the product. I got sick of doing that over and over and that’s what led to Siponey.”
The growth of the ready-to-drink (RTD) category and hard seltzers has paved the way for a resilient US beverage alcohol market throughout the pandemic, according to IWSR Drinks Market Analysis. US alcohol beverage volumes are expected to rise over 2% in 2020. Out of the 19 key markets that IWSR assessed, only the US and Canada are expected to expand their consumption for the year, while total volumes across all markets are expected to fall 8%.
The US alcohol beverage market also benefited from strong volume increases in the e-commerce and retail sector. However, those gains could not offset the 44.5% drop in dollar value lost from on-premise closures. Overall, total beverage alcohol value is likely to fall -11.8% by year-end.
September is always a transition month as summer closes out and US consumers turn their attention to preparing for the holidays. While some trends, including RTD and Tequila sales, held steady on the Drizly marketplace in September, the e-commerce spirits company reported increases in mid-week orders and an uptick in gin.
Liz Paquette, Head of Consumer Insights at Drizly, said “the increase of mid-week purchases could be a result of consumers spending more time indoors, leading to more casual mid-week drinking occasions.”
Thus far, the US spirits category has fared relatively well during the uncertain times of COVID-19, with IWSR suggesting it will deliver marginal growth rates and maintain its share of the beverage alcohol category. But will the trends that have skyrocketed during 2020—RTDs, canned cocktails, and e-commerce— change the US landscape for the long term? In this article, The Spirits Business talks to leaders from Bacardi, Campari Group, and Pernod Ricard about their plans for the future.
Continuing the interview series with retail buyers around the country. This week’s interview features Jonathan Blue, Chairman and Managing Director of Blue Equity, LLC, the parent company of Liquor Barn and Party Mart in Kentucky.
Tell us about your store(s):
We operate 21 stores throughout the state of Kentucky ranging from 5,000-square-foot express stores to 40,000-square-foot destination stores that draw from the entire region. We are the largest independent retailer in the region and in addition to receiving #3 ranked BARC award as a top 3 retailer in the nation, we just received the prestigious Market Watch award from Shanken as a leading retailer for 2020 in North America.
What are some of the hot trends in your area right now?
As expected, we are the nation’s leaders in retail bourbon and there is no end in sight to the insatiable demand. Tequila and RTDs demand has increased significantly in the past 9 months.
How has COVID-19 changed your operations?
We had to shut down tastings and our in-store upscale bar experiences. We are about to resume in-store tastings shortly under strict protocol. We were the first in the state to implement delivery though our app which gave us a head start on the competition and drove significant business during the height of Covid.
How do you make decisions on new products?
I consult with the buying team for new innovations. The most important areas we consider are: a) initial exclusivity b) initial reduced pricing that coincides with the introductory period c) significant POS support d) in-store tasting support when permitted and applicable e) a strong product with superior packaging
What impresses you most in a new product pitch?
The management and ownership team is evaluated as a part of the process. Additionally, the distributor does matter to us. Lastly, delivery time promises must be met.
What is one piece of advice for brand owners in 2020?
A strong, value-oriented initial presentation with exclusivity for us as a part of the introduction is critical. Most importantly is the believable story behind the brand. Everyone loves a story. It needs to stick with the staff and our customers and make the sale of the product that much easier.
