The Vanishing Middle Price War

In this episode, we unpack the September 2025 state of the U.S. beverage market, where mixed signals are the new normal.

We'll explore the paradox of craft beer, which is struggling in its traditional grocery channel but finding surprising growth in convenience stores. Discover which brands like New Belgium's Voodoo Ranger and Sierra Nevada's Hazy Little Thing are thriving and how strategic price cuts are reversing trends for others. Meanwhile, we look at why large suppliers like Constellation Brands are facing a tougher outlook, with revised guidance pointing to softer sales and margin pressures from factors like aluminum tariffs.

Next, we uncork the challenges in the wine industry. While direct-to-consumer bottle prices are hitting record highs, shipment volumes are plummeting. We'll discuss California's bulk wine surplus and why, despite this, creating affordable new brands to attract value-conscious consumers remains a major hurdle.

Finally, we'll cover the big strategic moves in spirits. Hear about Tito’s first-ever acquisition of the fast-growing LALO Tequila and what it signals for the industry. We also touch on major distribution shifts and key executive appointments shaping the commercial landscape for the holiday season and beyond