Craft beverage summit explores future of industry

By cbadmin on October 6, 2016

Craft beverage summit explores future of industry

Hutch Kugemen, head brewer at the Culinary Institute of America in Hyde Park, discusses the need for craft beverage producers to build an identity.

HYDE PARK – While the craft beverage industry is still young, it isn’t the same business as a decade ago. Those looking to break into the industry still have time. However Charles Merinoff, principal founder of Breakthru Beverage Group, said opening a craft brewery or winery is no longer enough to guarantee success.

“During the explosion of the craft beverage industry, you’d win just by being local,” Merinoff said. Merinoff added “you need a better story than just being local.”

Merinoff was the keynote speaker for the Hudson Valley Beer, Wine, Spirits and Cider Summit on Tuesday. The Summit is an event that offers guidance for established and aspiring producers as they navigate an evolving industry.

Though the local craft beverage industry has been around for a few years, the market is still expanding, according to Merinoff.

“You are just seeing the infancy of it,” Merinoff said.

Though young, the craft beverage industry has seen major growth.

New York State is home to more than 900 beer, wine, spirit and cider establishments. These places have an impact of $28 billion annually, according to the Hudson Valley Economic Development Corporation. This includes a major increase in farm distilleries, with an 800 percent increase from 2011 to 2016, and 124 farm brewery licenses issued since 2013.

Craft beverage producers should rely on their brand and story if they want continued success, Merinoff said.

The key to establishing the brand is building a community surrounding the product, Merinoff said. Including hosting social events, motivating “evangelist” fans, creating a membership opportunity for customers and creating a platform to communicate with customers.

“Every brand should have a society,” Merinoff said.

The summit also highlighted the need to balance old and young customers.

Younger drinkers will be receptive to promotion through social media, it may not have the same impact with Baby Boomers. “Technology is king right now,” said Brian Schmid, lecturing instructor at The Culinary Institute of America.

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