Ted X- Better business with consumers at the heart

Focusing on the craft beer industry and its place within the market, what can the economy learn from the craft beer industry? 

"beer means a lot of different things to a lot of people"

Notes

Scott discusses how beer is different to all people in all places and countries. Variety is important to consumers, which it wasn't always there in the beer industry. 

American lager has not changed a huge amount since after prohibition, packaged products such as cans and bottles helped shift a change the scale of their businesses. rather than keeping to barrels, selling smaller amounts on a larger scale economy grows because costs go down.

Because of money and businessmen wanting better profiuts , one type of beer has become prominently available because one company gets so big and profitable on brewing one type of beer so other big companies followed. 

Consumers have begun to be let down because some people got bored of the same old stuff.

1980 sees craft brewers start to try and differentiate, economy of authenticity help people feel comfortable in spending more on a craft brew because its different.

Past 5 years craft beers are up 40% on production.

Budweiser is 30% in size in past 5 years.

the coolest bud, bud black is down 80% because of craft beer, they are now trying to get into the craft beer industry without telling people because people don't want to drink into the bigger company. 

Industries need passionate entrepreneurs because we don't need more chains, we need independence.