Retail Pricing Wars! Does MSRP really mean anything? How do stores price their products relative to their size, customer base, and geographic location? We’re joined by Ed Bley of Cork N Bottle and Angelo Ingrati of Peppino’s Liquors & Wine to discuss both sides of the story. Read Show Notes Below.
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- What’s your reason on why your stores can sell above MSRP?
- Why would any store NOT sell at secondary pricing?
- How does geography play a role into this with Kentucky vs NYC?
- Is Buffalo Trace or the distillery the real culprits of the problem?
- Don’t most liquor stores make their money on volume rather than limited releases? So how do you keep your customers happy after this bubble bursts?
- Small mom & pop shops are losing allocation and reps are favoring big box stores, do you see this as a problem on the distributer side?
- Do store owners get tired of hearing “Do you have any X?”
- What do you think is the effect of square footage of your retail space? What are their advantages?
- How do you buy enough fireball to get any limited release bourbon?
- Are everyday items priced higher in NYC like Maker’s Mark?
- By raising the retail price, then do you feel like you are cutting out the distributor and the distillery of their fair share?
Denny Potter, Master Distiller and VP of Operations at Heaven Hill, talks about his past handling dangerous chemicals, answers if bourbon production is green, touches on age statement removals and the market for higher age statements.
- Thanks to Linden Ferguson for being the guest co-host
- The man behind many of the famous brands we talk about on the show like Evan Williams, Elijah Craig, Henry McKenna, Larceny and much more. Former Master Distiller and now VP of Operations at Heaven Hill, Denny Potter
- Talk about your history and how you came to Heaven Hill
- Talk about your old jobs dealing with dangerous chemicals.
- Talk about the environmental impact of bourbon production.
- So you have a history of rum. What do you think about this newborn uptick in Rum interest?
- How many barrels is Heaven Hill producing per day?
- What once was impossible to get rid of and now HH has been known for their high aged premium products by whiskey geeks. From Martin Mills 24 to EC18 and 23 and WHH 14 and 15 years, do you anticipate the future whiskey drinkers 10 years from now to still be wanting higher aged products?
- There’s a little known gem here in KY and that’s the 6 year BIB white label. When you travel do people ask you about how they can get their hands on some?
- What are some of those labels people are always wanting to know more about or how they can get their hands on?
Joseph Magliocco, President of Michter’s Distillery and CEO of Chatham Imports, joins the podcast to talk about the rebirth of an American Whiskey brand and how he used to sell it growing up. He talks about why he rebooted Michter’s in Kentucky rather than Schaefferstown, Pennsylvania and we talk through each of their whiskeys and ryes including their extreme high end expressions and whether or not the barrel proof bourbon will be a line extension.
- Lets talk about the beginning because you’re an odd type of guest for us. We’re typically getting Andrea Wilson or Pam Heilmann on to talk about brands, but you my friend are the business end. Talk about how you carved your path in this wine and spirits world
- I’m glad to hear you call it Michter’s because i hear people call in “Mishters” and i cringe.
- Talk about the history of Michter’s and where you come in
- What legal hurdles did you have to overcome when taking the name?
- You could have created a new brand. You didn’t need the name. But why use the Michter’s name anyway?
- Why did you decide to revive the brand in Kentucky vs the history in Schaefferstown, Pennsylvania
- I mean, that distillery in PA had one of the greatest iconic runs of all time with AH. Hirsch. Can you comment on that?
- You are also reviving other brands like Bombergers and Shenks.
- All of these brands have origins in Schaefferstown, Pennsylvania
- You know I wish I was smart enough to get my hands on M25 Rye and even more bottles of M10. Those older vintages are out of this world
- I’m going to put you on the hot seat here for a minute. How do you justify the price tag of your Celebration bourbon?
- What’s future expansion looking like for Michter’s?
- Where are you planning to take the brand next?
- During the week of the KY Bourbon Affair you released a barrel strength Michter’s. Is this going to be a line extension?
- Listen to all the Michter’s Podcasts.
#BCR is back again with more questions than ever coming from our viewers. We talk about Sazerac’s devious marketing tactic with age statement removal, the regrets of past purchases, will we see a buying increase of pre-sourced NDP after their stills are running, and how our buying habits have changed
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- So Who’s shipped their samples from the last roundtable?
- The picture BCR made famous. Old Charter 8 vs 8yr. Was there a case to be made?
- Lucas asks: With the bourbon boom in full effect, many of the large NDPs have really focused over the last few years on getting their own stills set up. Many of these brands have loyal followings from people that know what an NDP is . As these brands start to bottle their own juice, will we see a shift along the same lines as the hunt for stitzel weller juice or old heaven hill stock. Brands like Bulleit, Michters, Angels envy, and Luxco have plenty of money to pay chemists and tasters to keep flavor as close as possible but bourbon nerds are notorious for wanting what they no longer can get. What are your thoughts on the possibility of a subculture being created for people that really want Four Roses Bulleit or Heaven Hill Ezra brooks instead of what these companies are actually producing on their own? Will brands suffer as they change sources? Will we not notice it at all because the blending process is so key to major bourbon labels? Will consumers notice at all?
- Eric, who has yet to make an appearance from Breaking Bourbon, posted an article about changing our buying habits. Have you all slowed down? Amped up? Do you have more bourbon than you can drink in your lifetime? http://breakingbourbon.com/a-different-persepective-changed-my-buying-habits.html
- Rick Noland asks: You guys talk about FOMO. I also occasionally have FOBR (Fear of Buyer’s Remorse). How about an open discussion for the next Roundtable for the bottle(s) everyone regrets buying?
105 – Behind a Russell’s Reserve Barrel Pick with Cork N Bottle, Reid & Emerald, and more at Wild Turkey
Wild Turkey Barrel Selection Exclusive with Ed Bley of Cork N Bottle, Reid and Emerald of 1789b, Nick Dikeos of The Bourbon Mafia, and Jimmy Russell of Wild Turkey. Get an inside look at how these connoisseurs of bourbon choose barrels while Jimmy is rattling off more information and history than we knew before. This is a Bourbon Pursuit first, bringing you inside on a private barrel selection.
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- Everyone introduce themselves
- Ed, what’s your mentality going into a barrel pick?
- Jimmy, what hasn’t been tried in this business?
- Jimmy, you said Wild Turkey doesn’t produce anything outside of their own brands but what about Old Ripy and Bond and Lilliard?
- Emerald, what’s bourbon like in Arizona?
- Jimmy, talk about Chill Filtering
- Ed, do you feel like we could be choosing barrels that have been passed on by others?
- Jimmy talks about MGP, Schenley, and more
- Nick, talk about off-profile picks and why they are desired
- Emerald, how has barrel picking changed since bourbon has become so popular because you can’t get things like private ETL?
- Reid, talk about the differences between choosing barrels at Four Roses
- Jimmy, talk about the oak that goes into making the barrels
- Jimmy, when it comes to local farmers, does farm to bottle really mean anything?
- Jimmy, how did you get in trouble with the Wild Turkey pewter tops?
- Ed, Reid, and Nick, what do you think collaborations of different stores and groups coming together to make something special?
- Jimmy, talk about Parker Beam from Heaven Hill
- These bottles will be in stores very soon!