This article was published on iamagazine.com.
No matter the industry, trends are always evolving. But what happens when businesses refuse to adapt, or wait until it’s too late?
The liquor industry is a prime example. According to the Distilled Spirits Council of the United States, beer now makes up less than half of the U.S. alcohol market—marking a 56% decline over the past 17 years. Liquor sales, on the other hand, increased from 28% to 35% within the same timeframe. Bourbon in particular has enjoyed a recent surge in popularity.