Expert Insights from The Latest Thoroughbred Roundtable

Drawing on expertise from across the Thoroughbred team, our recent roundtable explored the issues and opportunities defining the spirits industry today. Here, we present a brief overview of each speaker’s input, distilling the key insights and viewpoints shared during the conversation.

Matt Strickland – DISTILLER

The Case for Consumer-Led Innovation in Spirits

In an industry where newness is often mistaken for innovation, I would argue that true progress begins with understanding what people are actually drinking. Too often, we rush to create something technically novel or barrel-finished in a way that sounds impressive on paper, but doesn’t reflect what consumers genuinely want. What I’ve seen is that people today are more curious, more open-minded, and more willing to explore the category than ever before—but only when products meet them where they already are.

To me, innovation should solve a problem or unlock an opportunity. Flavored spirits are a perfect example. Many in the industry have written off the category as simplistic or unserious, but the data tells a very different story. These products remove barriers, invite new consumers into the category, and make cocktail culture more accessible. Instead of dismissing them, I see flavored spirits as a wide-open creative frontier where thoughtful formulation and real ingredients can raise the bar for the entire segment.

Authenticity doesn’t mean clinging to tradition for its own sake. It means being honest about why we’re making something, who it’s for, and how it fits into the way people drink today. Sometimes that means going deeper into technical craft, and sometimes it means simplifying in a way that creates a better experience. Both are valid when they’re rooted in intention.

The most exciting shift I’m seeing is in consumer behavior. People are drinking less overall, but they’re drinking better. They’re choosing products with purpose and stories that feel genuine. That puts pressure on producers to be sharper in our decision-making—but it also opens the door for more thoughtful, more creative work.

Ultimately, innovation shouldn’t be driven by the distillery, but by the consumer. If we listen closely, they’ll tell us what they’re ready for, what inspires them, and where we should go next. And the brands that follow that compass, rather than chasing novelty for novelty’s sake, will be the ones leading the next decade’s growth.

BENJAMIN CARR – HEAD OF CREATIVE

Why Branding Matters More Than Ever in a Crowded Market

I’ve always believed that we’re living in a golden age of spirits design, but with that comes an unprecedented level of competition. Brands no longer have the luxury of assuming a beautiful label will speak for itself. Today, packaging and brand identity aren’t just aesthetic choices—they’re business decisions that can make or break a product long before a consumer ever tastes what’s inside.

Consumers gravitate toward brands that feel like they belong in their lives. That means design needs to be intentional, emotional, and tied directly to how and where the product will be used. A label must do more than look good; it has to perform. Can a bartender identify it across the bar? Does it stand out on a crowded shelf? Does it convey the right tone for the right occasion? These aren’t small details—they’re the foundation of how consumers connect with a brand.

One of the biggest mistakes I see is inconsistency. A brand can have a beautiful bottle, but if the voice, photography, website, and social presence don’t align, it creates confusion. Cohesion builds trust and makes a brand feel bigger, more established, and more credible. When every touchpoint reinforces the same idea, it becomes dramatically easier for distributors, retailers, and consumers to understand and champion the brand.

The market is also shifting in how people discover spirits. Social media, creator content, retail moments, and even at-home cocktail culture all influence design decisions. Packaging now has to be “camera ready” and able to live just as well on a shelf as it does in a video, a TikTok recipe, or a home bar photo. That’s a new kind of design challenge, but also a huge opportunity for brands that lean into it.

At the end of the day, great branding is about clarity. In a world full of noise, the brands that communicate their purpose quickly and confidently have a tremendous advantage. And in my experience, that clarity—expressed visually and verbally—is what separates the brands that just exist from the ones that truly resonate.

DAN DEMARCO – DISTILLERY ENGINEER

Rethinking Operations: The Hidden Power of Engineering in Spirits

From my perspective, engineering is one of the most underrated levers a spirits brand has at its disposal. While attention often goes to the creative side—the story, the packaging, the marketing—none of it matters if the operational foundation isn’t built to support it. Good engineering creates freedom: freedom to scale, to innovate, to pivot, and to grow.

I’ve seen many facilities designed around a single product or process, only to be stretched well beyond their original intent as demand increases or new SKUs are added. This creates bottlenecks, inefficiencies, and in some cases, real limitations on creative development. But when systems are engineered with flexibility and foresight, brands can expand without needing to reinvent their infrastructure every time they grow.

Cost pressures across the industry make this even more important. Smart engineering—better heat recovery, optimized yield, strategic material choices—can unlock significant savings while preserving quality. This isn’t about cutting corners; it’s about eliminating waste and building smarter systems that support the long-term health of the business. A well-engineered facility pays for itself many times over.

Another overlooked benefit of strong operations is its effect on morale and culture. Teams work more confidently when equipment behaves predictably, when processes flow cleanly, and when systems support rather than hinder the work. Engineering isn’t just technical—it’s human. It shapes how teams feel about the work they do.

In the end, engineering is a strategic advantage, not a background function. When brands invest in the operational backbone early and intentionally, they set themselves up for sustainable, scalable success. And in a marketplace where efficiency and agility matter more every year, that foundation makes all the difference.

SIMONE BIANCONCINI – DIRECTOR, RTM & GROWTH

THE NEW ROUTE-TO-MARKET REALITY

The route-to-market landscape has changed in ways that many brands still haven’t acknowledged. For years, the assumption was simple: create a product, sign a distributor, and let the system work. Today, that model doesn’t exist. Distributors have fuller portfolios, fewer resources, and far less bandwidth than they did a decade ago. If you want traction, you have to show up prepared.

What I see now is that brands must enter markets with real proof of concept—a clear consumer proposition, a compelling retail strategy, and a plan for activation that doesn’t rely on the distributor to do the heavy lifting. Distributors can amplify momentum, but they can’t create it from scratch. Suppliers who understand this dynamic are the ones gaining real traction.

A critical piece of the puzzle is honest self-assessment. Not every brand is meant for every state or region. Understanding where you have a competitive edge is essential—whether that’s cultural fit, pricing power, local relevance, or category whitespace. Expansion should be strategic and sequenced, not opportunistic. Depth always outperforms breadth.

Today’s environment also requires sustained supplier engagement. That means riding with reps, supporting key accounts, executing programming, and showing that you’re committed long after the launch. Distributors notice which suppliers show up consistently, and those are the brands that rise to the top of their priority lists.

The brands succeeding today are the ones approaching route-to-market with discipline and realism. When you combine a clear story, a tailored market plan, and active supplier support, you create a blueprint that distributors want to rally behind. And in this environment, that alignment is more valuable than ever

JEN WATTS – MARKETING EXECUTION

What's actually working in Spirits Marketing Right now

Marketing in the spirits industry has become incredibly noisy with a lot of “sidequests” (for my fellow gamers out there). The brands performing well today are the ones disciplined enough to focus. It’s tempting to chase every channel, every trend, every new opportunity, but that approach dilutes impact. Relevance is what drives results.

Influencer marketing is a great example of where discipline matters. The most successful partnerships aren’t built on follower counts, but on authenticity and messaging that resonates. When a creator genuinely aligns with the brand and integrates it naturally into their content, the impact is real, measurable, and lasting. A well-chosen micro-creator often outperforms and undercuts costs of an expensive macro influencer who lacks genuine product affinity.

Another area where brands win is in building cohesive digital ecosystems. E-commerce, social content, web content, search advertising, and trade programming don’t work in isolation. When the message a bartender hears matches the content a consumer sees online and the promotion they find in retail, everything compounds. Consistency isn’t limiting; it accelerates momentum, and we will all be bored with our content well before a consumer even recognizes it. Stay the course and make changes slowly and strategically.

Ultimately, the most effective marketing today is strategic, not scattershot. With tighter budgets and fiercer competition, clarity becomes a brand’s strongest asset. When you know who you’re for, what you stand for, and how you want to show up, every dollar works harder- and consumers feel the difference.

BRAD WRIGHT – CHIEF FINANCIAL OFFICER

Why Financial Discipline Is the Fastest Path to Growth

One of the biggest shifts I’ve seen in the spirits industry is the increasing value investors and operators place on financial discipline. Ten years ago, it was common to chase scale at any cost—enter as many states as possible, launch new SKUs quickly, and rely on volume to solve margin challenges. Today, that mindset no longer works.

I believe sustainable growth starts with understanding exactly where and how your brand makes money. Too many companies expand into markets before proving velocity, or build portfolios without considering margin structure and operational complexity. When you grow without a strong financial foundation, you burn resources and miss opportunities for long-term success.

A disciplined approach allows brands to double down on what works. When you identify your highest-performing markets, strongest price points, and most profitable SKUs, you can allocate resources strategically rather than reactively. This not only preserves capital but accelerates growth by focusing on signals instead of noise.

Financial rigor is also reshaping how investors evaluate opportunities. Clean P&Ls, realistic forecasts, and intentional strategies build trust and unlock better partnerships. A brand with strong fundamentals is far more attractive than one chasing scale without profitability. In many cases, discipline becomes a competitive differentiator.

In the end, financial clarity isn’t restrictive—it’s empowering. When your operational decisions, pricing strategy, and geography all align with your economic reality, you create a roadmap for sustainable success. The most resilient brands in today’s market are the ones that treat discipline as a growth engine, not a constraint.

SAM SEILLER – MARKETING & BRAND DEVELOPMENT

Building Brands That Win on the Shelf and in the Market

When I think about what separates successful spirits brands from the rest, it starts with a simple idea: build from the shelf backward. It doesn’t matter how compelling your internal story is if it doesn’t translate immediately to a consumer standing in front of your product. In a world of overwhelming choice, clarity wins.

For me, the foundation of a strong brand strategy is meaningful differentiation. Not more complexity, but more focus. Consumers need to understand quickly why your product is different and why it matters. If you can articulate your identity in a sentence, you make it easier for distributors to sell, bartenders to recommend, and consumers to choose.

Route-to-market is where that clarity becomes real. Distributor portfolios are stretched thinner than ever, which means suppliers have to show up prepared. A polished story, a defined market plan, and the resources to activate accounts are no longer “nice to haves”—they’re essential. Distributors support brands that make their jobs easier, not harder.

I also believe in the power of sequencing. You don’t have to be everywhere to succeed. In fact, strategic concentration—building deep success in the markets where your brand has natural advantages—often leads to the strongest long-term results. Momentum built in the right places becomes the fuel for expansion in the next ones.

At the end of the day, the brands that thrive are the ones that combine strategic clarity with route-to-market discipline. When your identity is sharp, your plan is focused, and your execution is consistent, you create a brand that resonates at every level of the industry—and wins where it matters most: on the shelf and in the market.