The October Data: A Glimpse Into The Beer Purchasers’ Index
There’s something brewing in the beer industry, and it’s not just the latest craft batch. The Beer Purchasers’ Index (BPI), the industry’s only forward-looking indicator for distributors to measure expected beer demand, draws a picture of a steady industry state. According to the latest data from the National Beer Wholesalers Association (NBWA), the October results show promising trends with six out of seven segments showing increased ordering activity. The leading force behind this surge? A whopping 17 point jump for premium regular.
Understanding the Beer Purchasers’ Index (BPI)
Before we delve deeper into the data, let’s take a moment to understand how the BPI works. The index surveys beer distributors’ purchases across different segments and makes detailed comparisons to the data of previous years. When the reading is greater than 50, expect an expanding segment. On the contrary, a reading below 50 signals a contracting segment.
The October BPI Details
For October, the BPI came in at 48, which, albeit sitting just slightly below the benchmark, remains consistent for the third month in a row. Simultaneously, the At-Risk Inventory (ARI) measure clocked in at an even 50. According to the NBWA, this data reflects industry consistency, a promising sign as we head into the final months of 2023.
Analysing Segments: Rising Imports, Struggling Crafts
Looking across the segments for October, several patterns emerge. Starting with imports, the index points to expanding volumes, with October 2023 reading a considerable 67, significantly higher than October 2022’s reading of 59.
However, the story is quite different for the craft industry. Standing at 31 for October 2023, the craft index continues to signal contraction in this segment. Yet, there’s a silver lining—it’s higher relative to the October 2022 reading of 23.
Transitioning Light to Regular
Interestingly, the premium light index made some headway, rising to 53 for October 2023, a reasonable upswing from the October 2022 reading of 45. Furthermore, the premium regular index wasn’t far behind, jumping up to 49 for October 2023, a significant improvement from the October 2022 reading at 32.
Dipping below Premium
However, not all segments shared the same fate. The below premium segment for October 2023 dipped, skimming in at 45, slightly below the October 2022 reading at 47.
The Rise of FMBs/Seltzers and Ciders
Meanwhile, the FMB/seltzer reading for October 2023 stood at 28, marking an evident increase from the October 2022 reading at 18. Also, the cider segment posted interesting figures, with an October reading at 35, considerably higher than October 2022’s 30.
The October Wrap Up: 2023 Appears Promising
Pooling all the data together, it’s clear that the beer industry possesses resilience, marked by steady consistency heading into the final months of 2023. With imports and some premium segments on a surge, and others segments like craft, below premium, and FMB/seltzers showing signs of improvement, the October results provide a robust picture of the beer industry’s state. As the year marches forward, industry watchers remain hopeful and will continue to closely keep an eye on these evolving trends.
F the year. With increased ordering activity and a strong performance from premium regular, the beer industry seems to be in a stable and positive state, setting the stage for future growth.
The October data for the Beer Purchasers’ Index shows a promising state for the beer industry. The consistent BPI reading and increased ordering activity in six out of seven segments indicate stability and potential future growth. The index serves as an important tool for measuring the industry’s demand and provides valuable insights for distributors. With premium regular leading the way, it’s clear that there’s something brewing in the beer industry, and it’s a positive outlook for the future.
F the year.
The October BPI provides valuable insight into the state of the beer industry, showing positive trends for potential future sales. It’s reassuring to see increased ordering activity and consistent readings, indicating a steady market. The BPI serves as an important tool for industry players to gauge demand and make informed business decisions.
F the year. With increased ordering activity in six out of the seven segments, the October BPI provides a hopeful glimpse into the state of the beer industry.
The October BPI data confirms what most beer enthusiasts have observed – the beer industry is showing positive growth and stability. With an increased ordering activity in six out of seven segments, and a significant surge in the premium regular segment, it’s clear that consumers are continuing to show strong demand for beer. This is an encouraging sign for both distributors and consumers alike. Cheers to a thriving beer industry!