This article was published on lifehealth.com.
It can be difficult to predict trends. Unfortunately, many brands across industries too often find themselves in a situation where they have to react rather than set the trend.
And for some, that can result in being too far behind the trends to catch up.
Take the bourbon industry, for example, which has experienced a recent spike in consumption. While this may seem great for distillers, it takes years to make bourbon. And, because no one could have predicted the sudden popularity, distillers couldn’t get ahead in production, resulting in an industry-wide shortage.