Spirits are perceived as affordable luxury. People are more careful with their spending today. Maybe they can’t buy a $40,000 BMW but they’re willing to buy a good $60 to $70 bottle of Scotch. You...

A middle-class man making $40,000 might not be able to buy a new BMW. But he can buy the occasional bottle of vodka for $35 a bottle. People are drinking less than they once did,...

It’s the only way to be objective.

The big difference between beer and spirits is that spirits like vodka and Scotch offer consumers a wide range of flavors and mixable options and you can buy them in a range of price points.