Weekly Beverage Alcohol Recap | December 19, 2025

Demand remains soft, especially in spirits; beer is pressured but more resilient, and shipment/depletion optics may still overstate true consumption.

Promotion strategies are diverging: spirits promo depth rising; beer promos more measured; non-alcohol promo behavior varies by segment.

American whiskey is retrenching output amid elevated inventories—raising the stakes on inventory agility and long-term capacity planning.

Wine is the week’s clearest stress point with debt-impaired outcomes and major impairments signaling a reset—while premium and sparkling show relative resilience.

RTDs stay hot with standout brand growth, drawing continued capital and leadership attention.

Craft beer faces structural pressure in grocery, pushing more “third space” and lower-ABV experimentation.

On-premise remains choppy, with traffic/value sensitivity and tourism headwinds affecting higher-margin occasions.

E-commerce opportunity is real but maturing: growth shifting to omnichannel and on-demand, while DTC looks flatter.

Cannabis policy volatility surged with a Schedule III push; longer-term risk is stronger cannabis competition via improved economics (potential 280E relief).

Industry rationalization continues: portfolio optimization, distribution digitization, and beer capacity rebalancing signal a market adjusting to a new baseline.