Like any good Millennial I love a good craft brew. Toss some habanero in my IPA. Cinnamon in my stout - why not? But as I happily sip my hops, the curiouser part of my brain (okay perhaps the side that's a bit too business minded) starts to wonder what it takes to get that lavish lager from the brewery to my glass.
Craft brews are bountiful. A Beverage Industry report indicated that in 2014 craft brewers:
Produced 22.2 million barrels of beer
Volume rose 18%, and
Retail dollar value increased 22%
The bottom line is while craft breweries might feel small, they're adding up to big business. For the first time, these small(er) organizations are starting to look around and think critically about business practices and environmental factors that can contribute to continuing success.
A few months ago, World at Work published an article highlighting 4 layers that breweries must consider in order to grow their profits:
Insight - understanding the market, competitors and how business performs
Sales Strategy - sales organization's action plan to reach goals
Customer Coverage - how the organization leverages resources to go to market
Enablement - "upstream disciplines" (compensation, training & development, etc.) to support achieving business goals
While these are wonderful considerations, the FutureSense team dug into the marketplace and discovered that in the beer industry (as well as wine and spirits) - this data doesn't appear to exist. Leveraging over 25 years of collecting data in other industries, our team has produced and is actively collecting data to help the beer, wine and spirits industries understand all of the moving parts to build a successful business plan.
Data nerds and business strategist with an affinity for craft brews and wine - we'll drink to that!