“Raising $1 million today is more difficult than raising $5 million in 2021.” - Maria Pearman, CPA at this year’s Bar Convent Brooklyn.
The challenge inherent in this shift means that the bar is higher for drink brand differentiation, product innovation, RTM planning, and the necessity of a real edge.
This is not an ideal reality for beverage entrepreneurs, but not necessarily a bad thing for those overburdened by the crowded market: portfolio managers, salespeople, retailers, and consumers.