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Beer Goggles: How can craft beer companies survive? Use ratings

At one point in the not-so-distant past, you could sell a drinker a craft beer simply because it existed.

Now, it requires a bit of a nudge.

While craft beer’s production has nearly tripled since 2008, almost half of sales came from the top 10 brands and over 60% come from the top 20, according to Chicago market-research firm IRI.

So how does a bar or restaurant move beer that’s outside the top 20? In this month’s Journal of Behavioral and Experimental Economics, Oklahoma State University doctoral candidate Trey Malone and OSU economist Jayson Lusk suggest that providing more information with that beer is essential to its success in a crowded marketplace.

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