Whiskey (or whisky depending on where it’s from) is a drink with a rich history, but it may be primed for a marketing shakeup. Despite its longevity, whiskey has recently been riding a wave of renewed interest. By 2025, the market for the aged liquor is expected to grow by more than 37%, reaching $109 billion.
Legacy brands have repeatedly found themselves needing to reestablish their place in the marketplace as younger competitors vie for a piece of the pie. And while the whiskey industry is largely dominated by a few multinational conglomerates that own distilleries older than some countries, new, Instagram-savvy brands are raking in millennial dollars. Advertising will be essential for these older brands to remain relevant.
“As the whiskey industry is on the rise and as millennials continue to seek out differentiated brands and offerings, we’re going to continue to build mass awareness for our brands through paid, earned and owned tactics,” said Harvey Purchese, senior vice president of marketing at William Grant Sons US, in an email exchange with Marketing Dive.
However, keeping brands relevant can be a challenge as millennials like novelty and newness. How do marketers repackage a drink that’s been commercialized for hundreds of years as something fresh? Especially one traditionally associated with mature white men?
Sumaiya Akashi 44 w
Very informative article!