Special Edition Round Table Discussion 2024 Review! Part 1

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📢I talk🎙️with Julie Milroy, Erica Duecy, Caitlyn LuBell and Katharine Jerkens about the Beverage Industry Recap of 2024 in Part 1! Next week we will discuss 2024 Surprises and Outlook for 2025 in Part 2. 👏🍷 🎇 🎉 ✨ 👏 🥂 😁
📽️ Watch on YouTube! 🎞️ https://youtu.be/nIHS6gXmr_A
I love this conversation. There is so much valuable content in this podcast! I was super stoked to gather these C-Suite Ladies from all around the industry to discuss 2024 and how 2024 was a reset year and evolving consumer culture around alcohol.
We end this episode with a tribute to Icon and Entrepreneur Fawn Weaver. She and her team have charted a road untaken with Uncle Nearest and she received nods of respect from our panelists. Congratulations Fawn on all your success with Uncle Nearest!
Some Major Talking Points:
2024 "A Reset Year"
1) A Start to a Major Correction (much like the post-financial crisis)
2) Cultural Shift, Younger Consumers "Year of Flavors"
3) Price drop and margin but not seeing a volume increase
4) Too many Brands and not enough Distributors
5) In Younger generations alcohol is culturally less important
And So many more topics uncovered!
Summary
Industry experts reflected on the challenges and opportunities presented in 2024. They explore cultural shifts in alcohol consumption, the impact of celebrity brands, and the complexities of distribution in a competitive market.
The panelists share insights on consumer behavior, market trends, and the necessity for brands to adapt to changing dynamics. The conversation delves into the complexities of distribution in the spirits industry, highlighting the challenges faced by new brands and the evolving landscape post-pandemic.
We discuss the rise of entrepreneurship, the importance of adequate funding, and the shift towards alternative distribution models, particularly the growing influence of ready-to-drink (RTD) products. They emphasize the need for realistic expectations and strategic planning in order to succeed in a competitive market.
NOW ON YOUTUBE!!! Thank you for Listening! Join us on Facebook, Instagram or Twitter!
Host Jessie Ott's Profile on LinkedIn

Chapter

1. Special Edition Round Table Discussion 2024 Review! Part 1 (00:00:00)

2. Be Sure to Subscribe to be Notified of all new Episodes! (00:00:23)

3. Intro to Panelists (00:01:06)

4. 2024 Review (00:04:06)

5. Celebrity Brand Success vs Failure (00:18:43)

6. Celebrity Brand Success (00:22:27)

7. Brand Entrepreneurship Flourished in the Pandemic (00:25:33)

8. Kate's take in the Industry after Celebrating Her 8th Anniversary! (00:32:38)

9. Result: Opportunity to Start a Distributor (00:40:39)

10. Result: Opportunity in B & C Cities (00:42:30)

11. Stay Away from Cali Market! (00:44:00)

12. Costs $3-$5M to Building Brands today (00:46:44)

13. Fawn's Fund Raising & Other Talents. Amazing Success Story: Panelists Discuss Mad Respect for Her (00:51:38)

14. Produced by Fedora J Productions (00:54:53)