Changing state laws around the country have fueled a rise in craft distilleries in the past decade or so, and their artisan experiments are fueling the latest whiskey trends. The number of craft distilleries in the state of New York alone has grown to 50 since the state began cutting licensing fees in 2002, and there are 12 in the borough of Brooklyn alone, said Colin Spoelman, co-founder and master distiller at King’s County Distillery.
Spoelman grew up in Kentucky, the state that produces 95% of the world’s bourbon supply. He learned early on to make moonshine, which is basically bourbon before it’s aged, he said. When he moved north to Brooklyn, Spoelman set up a still in his apartment and started making the kind of moonshine whiskey he grew up with.
“Then I started getting very popular,” he said with a laugh. “So I looked into getting a license. (read more…)
If you followed this summer’s public debate surrounding ride sharing, specifically the car service Uber, you might have heard the term “surge pricing.” The term incensed high-ranking government officials, but surge pricing illustrates the most basic of economic concepts: When demand is high, charge more.
Airlines and hotels have been surge pricing for years. But other than a “market price” for fresh fish or other rare commodities, the restaurant industry has largely stayed away. All this could soon change as mobile ordering gains momentum. Uber raises pricing on the fly based on real-time data gathered via mobile devices, the primary source for ride requests. Digital ordering for restaurants allows a similar opportunity by enabling fluid pricing. If, for example, a concert lets out at Madison Square Garden, Uber might charge higher rates to encourage drivers to come to the area. The local burger shop might also experience a flood of mobile orders. (read more…)
Millennial consumers are having a noticeable effect on food and beverage brands, and their influence is increasingly being reflected in the products’ packaging. As the 21 million-strong generation wields its $1.3 trillion in direct spending power, brands have begun to take note of their product preferences and the trends that are driving their purchasing decisions.
This generation cares more about the benefits of the products, including the emotional benefits, so the goodness should be spelled out on the packaging. Messaging should turn the box, bag or bottle into a brief billboard, according to a report from Kansas City, Mo.-based ad agency Barkley. For example, belVita’s new Breakfast Biscuits tout “Nutritious, sustained energy all morning,” said report author and Barkley Senior Vice President Brad Hanna.
“The claim really hits on the emotional benefit of the product,” he said. “It does say whole grains, but it’s not leading with that. (read more…)