SipSource Uncorks the Future of Wine & Spirits with Mid-Year Report
Updated: Sep 11
The Wine & Spirits Wholesalers of America (WSWA)'s SipSource has just released its 2023 Q2 Mid-Year Report, and for those of us in the industry, it's a must-read.
The first half of the year saw a dip, with spirits down by -4.2% and wine by -7.0%. But don't put away your glasses just yet; the report hints at a more spirited second half of 2023, buoyed by moderating inflation rates and easier comparables.
With the continued trend of consumers enjoying their beverages at home, it's evident that the living room is becoming the new local bar. This shift underscores the importance of a robust off-premise strategy. Strengthening retail relationships and ensuring a smooth pull-through can make all the difference in this evolving landscape.
As we navigate these trends, it's essential to keep an eye on the horizon. The report reminds us that the impact of COVID-19 on our performance is now in the past.
The upcoming months are set to be pivotal, shaping the trajectory of wines and spirits. So, as we raise our glasses to the future, let's embrace the changes, adapt our strategies, and ensure that every pour, whether at a bustling bar or the comfort of home, is perfect.