Let’s talk about single malt whiskey runaway pricing and saturation, shall we?
By now it’s no secret or surprise to anyone that prices have increased on pretty much EVERYTHING in our daily lives. Those increases have certainly been felt in the whisk(e)y and spirits corridor. There are a number of reasons behind these spikes, but sadly, it doesn’t make the pill any easier to swallow. Unfortunately, it’s unlikely we’ll ever see the days of Lagavulin 16 for $70, Balvenie 12 Doublewood on special for $40, or even Laphroaig 10 for less than $50. Because, believe it or not, that was the norm (at least in my area of the US) only a short number of years ago.
What I would consider ‘entry level’ single malt bottles like Glenlivet and Glenfiddich 12, that I also easily recall on shelves for $35ish, now hover at nearly double that. Maybe I missed a cost-of-living adjustment raise somewhere along the way. But it’s hard for me to consider expressions like these entry-level anymore. Again, there are numerous reasons for these increases that are all well-deserving of their own article. But for the moment, there are bigger and more unique issues this new normal tier of pricing is bringing to our editorial tasting table.
There are many newer distilleries on the scene over the last few years from all corners of the world, producing and releasing single malt.This massive influx in new (and sometimes unknown) expressions all seem to sit at around the same $65 SRP.
The Good:
The single malt world is no longer automatically chained to the typical Scottish, Irish, and as of late, Japanese expressions. Many malt enthusiasts are ready and willing to try whiskies from other countries like India, Taiwan, Wales, New Zealand, Israel and also embrace what our own country has to offer. The world is now a delicious whisky-filled oyster and there are plenty of glasses to be filled up.
The Bad:
Remember that mention of the same $65 SRP? Retailers are being flooded with these newer offerings that all sell for almost the exact amount. And for anyone else out there who missed that cost of living adjustment, $65 for an unknown product is $65 that could easily be spent instead on the favorite go-to. Not to mention, there are additional expressions and releases from these new brands to fill out their portfolio. Just about everyone has a Sherry or wine-matured release, a peated offering, cask strength edition, single barrels; the list goes on. It’s great to see the experimentation, options, and variety. But this popular, and now almost cookie-cutter blue print, for producers doesn’t mean all products will sell equally, or even that quickly, right out of the gate. And with prices easily set to $90-$100+ for many of these special edition or allocated releases, choices become even larger and harder to decide on for the end-buyer.
The Ugly:
As much as I would love to think that these newer distilleries and brands will all find their tremendous success and carve their niche into whisky history, it may not be an easy journey. Importers and distributors can bring in all they want and flood the retailers with a slew of new bottles. But, with prices continually rising, and the many options becoming exponentially bigger, it’s easy to become overwhelmed and just go back to your tried-and-true. And if the micro brewery and beer worlds have taught us anything over the last couple of years, it is that an over-saturated bubble can easily pop at any time.
The Reality:
Tasting events, seminars, and education from brand ambassadors and passionate retailers certainly helps. But it still falls on the consumer to pull the final trigger as premium whisky becomes more expensive. Once budget-friendly bottles are not as budget-friendly any more. Discerning whisky drinkers have to decide between high prices from the new and unknown. Or maybe even swallow a bit of pride and admit that the cheaper blended whisky they thought they were better than, actually tastes pretty good and fits the budget they have to spend now.
Shop, choose, and pour wisely, friends.
