⚠️ Bad Vibes, Big Spenders

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In 2022, writer Kyla Scanlon put forward the idea that America was experiencing a “Vibecession” – the sense that consumers’ feelings about the economy was contrary to its actual strength. There were, of course, some reasons for people to feel this way: rapid inflation hit pocketbooks hard, especially at the grocery store, and financial media was frequently touting the probability of a recession that never came to pass.

Two years later, the disconnect between market and mindset appears to be ongoing, even as inflation has fallen to just 3% as of June 2024 (compared to heights of 9.1% in June 2022). 

According to The New Consumer and Coefficient Capital’s new Consumer Trends 2024 Mid-Year Report, 40% of Americans said rising prices are one of the most important problems facing the country today, more than any other issue – including illegal immigration (28%) and reproductive rights (15%).

BevNET Insiders can access our full rundown of the report and learn how changing consumer habits are shifting the landscape for private label and alcoholic beverages.

The way in which consumers incorporate their favorite beverages into their day-to-day lives is ever-changing, especially in the coffee and tea space. Our capabilities in coffee and tea can offer you the flavors and ingredients that can shape your products into what consumers desire. Learn more

It's Friday, and that means it's time to round up all of this week’s new product creations and brand collaborations. Here’s a sample of what’s in-store:

🏁 Jones Soda is off to the races with Nitrocross, announcing the upcoming introduction of Jones Craft Cola and Jones Craft Zero Cola through a new partnership with the rallycross racing series. 

🍋 Pressed Juicery teams up with Grammy award-winning music legend (and workout fiend!) Lenny Kravitz to unveil its new limited edition Blue Electric Light Lemonade as a homage to the singer’s latest album. 

⭐ Functional beverage maker Illicit Elixirs joins forces with actress Bella Thorne to launch its Naughty Behavior Citrus Flavor, marking the brand’s first engagement with the entertainment industry. 

☕ Blue Bottle hopes to transport consumers to The Big Easy with its latest offering, the New Orleans-Style Coffee and Roasted Chicory Kit. The kit includes one 12 oz. whole bean bag and one 1 oz. roastery chicory bag, allowing consumers to make their own NOLA cold brew at home.

Check out the full new products gallery on BevNET.

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The latest installment of Elevator Talk features leaders from Pecana, KEY, Vigie Limoncello, (parentheses) and Water Plus Supplements.

Watch founders and CEOs introduce their brands and provide a recap of recent news and updates. This week’s special co-host is Adam Louras, a partner with Mercenary, who shared his thoughts, questions and feedback with the participants. He is joined by Ray Latif, the Editor and Producer of the Taste Radio podcast.

Check out the full episode on BevNET.

Sweet. Savory. Celeb. The hosts check all the boxes in an episode that looks at how consumers evaluate authenticity between brands and celebrity endorsers. We also feature an interview with Stephanie Reda, the director of brand development for fast growing snack and seltzer brand Hal's New York.

Listen to the episode now.

• Details on the tension playing out between brand loyalty and beverage prices
  
• News of the latest spirits conglomerate to slim down its selection

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