Turns out Beam was right about Booker's

[Kepler]

Many of us on this site were peeved back when Beam radically overhauled the retail strategy of Booker's bourbon in the span of 2015-2017.  First in 2015 Beam remade the release strategy and marketed them under easy-to-remember batch names and made Booker's a standard recurring quarterly release that everyone could look forward to. 

 

Then in 2017 they followed that up with a massive price increase that nearly doubled the MSRP.  We all screamed (me included).  Some of us even laughed at Beam for such a bold and risky move.  What a ridiculously greedy move by a big corporation motivated solely by the bottom line.  

 

But looking back now years later, it appears to be a stroke of genius. They transformed the brand from a sleepy, dust-collecting 6-7 year old whiskey that really wasn't selling at $45-50 into a tater/bourbon-hunter 6 year old whiskey that sells as fast as it appears on shelves at $80!  Taters are actually hunting and collecting *every single* batch of Booker's now .

 

I used to see all the Booker's I ever wanted at $50 in ANY store, multiple batches to choose from, at my whim.  Now I NEVER see Booker's just sitting on the shelf, even at the high price of $79.

 

Yes it's a shame for us, but who's laughing now?

Edited April 10, 2021 by Kepler

[LGC]

At $100 (by me), there are four Bookers (Granny's Batch & Pig Skin) that continue to just sit there.

[Kyjd75]

At one of my local stores they had recently implemented the new pricing of Booker's at $99.95 and had several on their shelves.  A week later they were all gone.  I asked about them and was told one customer came in and bought them all without blinking an eye.   I like Booker's a lot, but have to admit their new pricing will definitely slow down my purchases of it.

[Bourbon_Jeeper]

The price of $100 (for me in Georgia) doesn't mean anything. The price is high for any good name, so it gets bought at $100. Guess Beam knew what it wanted. 

 

Lin. 

[Patrick_OKC]

To me, it's still a $38 to $43 Bourbon. That's what I initially paid for it, and I still remember the burst of goodness on my very first sip. I still buy every now and then, albeit at today's pricing. 

[fishnbowljoe]

Another sad part of this saga is that in most stores in my area, the price of Baker’s has followed suit. I’ve seen it as high as $75.00-$89.99.

 

Biba! Joe

[GeeTen]

8 minutes ago, fishnbowljoe said:

Another sad part of this saga is that in most stores in my area, the price of Baker’s has followed suit. I’ve seen it as high as $75.00-$89.99.

 

Biba! Joe

Baker's 7 (pass) or 13 (buy)?  Hey, but that's just me (heh, heh).   

  

[fishnbowljoe]

1 minute ago, GeeTen said:

Baker's 7 (pass) or 13 (buy)?  Hey, but that's just me (heh, heh).   

  

It’s really kinda pathetic Frank. A couple of stores here seemingly don’t know the difference. They have one or both priced in the above mentioned price range. At one store I actually did a double take. I grabbed a bottle off the shelf to examine it just to make sure it was the regular old Baker’s that was priced so high.

 

Biba! Joe

[JCwhammie]

I agree with you, Kepler. I see people on local fb groups looking to pay up to $110-$130 per bottle depending on the batch. I haven't bought one since it went north of $65. I've enjoyed it in the past, but there are others I prefer in that price range. If it were still around $55 I'd always have an open bottle on my shelf. 

[Harry in WashDC]

I will admit to buying one Booker's @ $70, but my bunker still has several from the $45-50 days.  Baker's 7 still shows up at $65 here in a few stores, but it disappears within days.  Baker's 13? Have not seen one in quite awhile.

[PhantomLamb]

It's a darn shame and still a cash grab to me.  As much as I love JB, $100 is ridiculous for a 6 yr. bourbon, barrel proof or not.  I bought my first and last bottle back in 2016 for $60, phenomenal and worth the money to me.  Now, can't find it anywhere and asking $90 here in PA.  Insanity.

[TwoFingers]

I don't buy Booker's often but at $100, I'm out.  I just don't see it to be worth that much.  IMHO, there is alot of bourbon out there that isn't worth nearly the price I see in the stores.

[Wedelstaedt]

Great post Kepler.

 

Just another example of how distilleries just don't care about their customers, no matter how much lip service or brand ambassadors they Trot out with a cute story.  

 

Furthermore, they could give less than two s*%ts about whiskey enthusiasts such as us. 

 

I understand fully, the bottom line is at the top of the list for all businesses. However, a little appreciation for  the customers that purchase their products with a smile and a handful of hard earned cash would be nice. 

 

I for one, have a very long memory on how I am treated by people or companies. 

 

Cheers

Edited April 10, 2021 by Wedelstaedt
Added content

[smokinjoe]

I respect anyone’s opinion on their determination of worth, as that is subjective and inherently personal.  But, to take it as a personal affront if a company decides to reposition a product at a more premium price is unreasonable, IMO.  Particularly, as in Beam’s case, when they leave a full stable of highly available whiskies of tremendous quality and value to choose from.  
Entirely reasonable to question it from an effective business move, as a good friend argues when we enter our 7th hour of drinking and debating the subject..., but it’s simply a strategy of how they want to position products within their portfolio, and I am fairly certain it was done with great consideration of their customer fan base.   But certainly, consumer perceptions to the brand can be quite powerful when they are negative!  

[flahute]

I wrote a lot about this when it first happened because I had come across reporting on a Beam Suntory board meeting where they announce the 'premiumisation' initiative they were undertaking.

The Booker's price increase came shortly after. While I hated it at the time (and still do) I always figured it would work for them. Even though they lost most of us, it was very easy to see at the time that all of the new blood entering bourbon would have no knowledge of what it used to cost and would happily buy it up at the new price. This has proven to be even more true than I predicted.

Good business move for them. I have not bought one since the price increase and have no future plans to do so. Beam doesn't need me because they have plenty of people out there who will buy up every bottle they make. Meanwhile I'm content to buy what I like at prices that I consider reasonable. Beam has such products that I like more than Booker's so this works out well for me. 

[berto]

It was a brilliant marketing move.  The enthusiast market was never the intended target market.  We're but a blip on the radar good for recognizing new targets for the corporate bean counters to repackage and sell at a premium to the broader market.  I said never again with the price hike and have stuck to it.  

[Jazz June]

Considering they put out Knob Creek 15 year at 100 proof and $100, the $90 current MSRP for Booker's does look like more of a re-positioning than just a price hike. Knob Creek SiB is 9 years old and sitting pretty close to barrel proof at $50. Nonetheless, I too don't buy Booker's any more and the last two bottles I have on hand are batches 2016-05 and 2015-02 (which I think is the last 7+ year release).

 

They dropped the number of releases per year, but I wonder if they dropped the overall volume of Booker's they release. And judging from VA ABC inventory, it still sells out, so yes, their price increase doesn't seem to have hurt them in the short term. If it were on par with Elijah Craig BP enjoyment wise for me, I might buy some at $90 or at least when there was a sale or other deal. I know some who still love Booker's, so they retained some of their longer term fans. I'd be interested if they raised the age some, assuming they left it around a $90-100 price point. Booker's 30th was quite good and the KSBW Little Book was spectacular, so they have some good stuff in their barrels. But Booker's LE releases are likely to be more like $200+.

 

All of the distillers had under-priced products in the transition from the bad times to the boom. I agree with smokinjoe that for them to adjust prices in light of the crazy increase in demand is hardly unreasonable. But I also agree that we don't have to like it. And frankly, just on a spec comparison, $90 is too high. Look at Rare Breed, Elijah Craig BP, Maker's Mark CS which all run in the $50-60 range. Although there are certainly counter-points, such as Woodford Reserve BP at $130. I'd say Beam has shown some love for the consumer while obviously also trying to cash in. Basically everyone has been "right" in raising prices in this run away boom. We will see how smart they are when things level out some.

[0895]

Nice follow up, @Kepler.

Excellent points that are very accurate.

 

I personally am not a Booker's fan and generally always ignore it.

 

However I am a Baker's fan, and to piggyback off of your comments, I have noticed since the switch to single barrel and the subsequent price increase, it is not sitting around collecting dust like it used to either.

I for one enjoy it more now in single barrel form, and I think the new packaging is an upgrade from the old wine bottle.

It does worry me a little bit that it isn't always available, but so far I have resisted the urge to stockpile any of it.

[kaiserhog]

For $20 you can have the lovely Old Tub from Beam/Suntory.

[PaulO]

The father of modern economics Adam Smith would probably say something along the line of - if they raise the price and demand doesn't go down, it was the right call.  As Smokingjoe pointed out, it's a business.  Also, it's the times we live in, with more people chasing certain brands and all that behavior: hoarding, fear of missing out, showing off, ...

I'm not a Booker's customer.  You could say I missed that party.  I was busy with other things, and regarded Beam products as a value brands, not a $50 bottle brand.  With the new prices, I'll probably continue to pass.  On the other hand, I'm not down on Beam.  They have some other items I like.

 

When I was a child, Beam had so much aged product.  They were putting it in all sorts of silly collector decanters to get people to buy it.  Demands can change.  The whiskey business is funny. 

 

[flahute]

3 hours ago, 0895 said:

 

However I am a Baker's fan, and to piggyback off of your comments, I have noticed since the switch to single barrel and the subsequent price increase, it is not sitting around collecting dust like it used to either.

I for one enjoy it more now in single barrel form, and I think the new packaging is an upgrade from the old wine bottle.

It does worry me a little bit that it isn't always available, but so far I have resisted the urge to stockpile any of it.

Good point here about Baker's. It was a hidden favorite of mine in the old form. When they switched to single barrel and the price went up a bit I resisted for a while but eventually caved in. That first bottle I bought was fantastic so I was back in.

The second bottle though was decidedly out of my wheelhouse. Variety is to be expected with single barrels of course but now it has me 'out' again. Turns out there are some advantages to blending for consistency! At the new price it's not worth the risk for me. I'll stick with the KC family.

[BigSkyDrams]

I have not seen a Bookers on the shelf period in my area for a couple years now, which would suggest people are buying on-sight at the premium pricing. But I also recall the first few batches after the price hike sat rows deep at my local because folks weren’t willing to shell out the new price. It’d be interesting to try and find the point in the last 3ish years it went from overpriced-shelf-clutter to can’t keep any in stock status.

[GeeTen]

3 hours ago, kaiserhog said:

For $20 you can have the lovely Old Tub from Beam/Suntory.

 

No, no and no thank you.  I'm not THAT drunk, yet.  

 

[flahute]

2 hours ago, BigSkyDrams said:

I have not seen a Bookers on the shelf period in my area for a couple years now, which would suggest people are buying on-sight at the premium pricing. But I also recall the first few batches after the price hike sat rows deep at my local because folks weren’t willing to shell out the new price. It’d be interesting to try and find the point in the last 3ish years it went from overpriced-shelf-clutter to can’t keep any in stock status.

It took a while for the new blood to accumulate and realize that this was their best shot at something "limited" when they couldn't get the actual limiteds.

[BigSkyDrams]

28 minutes ago, flahute said:

It took a while for the new blood to accumulate and realize that this was their best shot at something "limited" when they couldn't get the actual limiteds.

I think that nails it on the head.