The Advisor - Issue #30 : simplebooklet.com

Summer seems to be disappearing right in front of our eyes.As Summer starts to wind down, retailers find some luck as onlinelottery was left out of the state budget plans - a huge win for thosewho rely on that foot traffic to come into the store.Boston restaurants and nightlife appear to be getting a makeover witha new focus from the city which will help boost the bottom line.Lots to look forward to as we go into the second half of the year. If wecan be a resource to help you finish your year strong, just let us know.Sincerely, Page 3: Online Lottery OutOf LuckPage 4: What's Trending NowPage 7: Reviving Boston'sNightlifeCEO's NoteRetailers find some luck & Boston revival takes shape...www.LiquorLicenseAdvisor.comTHE ADVISOR MAGAZINE  | 2Founder, CEOLiquor License Advisor®D A N N E W C O M BLiquor License Advisor® hasbeen a trusted resource in theliquor store and licenseindustry since 2002.

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Online Lottery Out of Luck FY2024 Budget Will Not Include the Legalization of Online Lottery by Dan Newcomb The Massachusetts Package Store Association MassPack released a news brief on July 31 2023 announcing that online lottery is no longer a contender in the Massachusetts FY2024 budget This decision is good news for local package stores many of which rely on lottery commission as part of their sales Lottery officials began advocating for an online lottery system due to the legalization of sports betting as they argue that sports betting revenues could siphon off revenues from lottery sales to which MassPack retorts that This has never happened MassPack claims that the state has presented misleading information and data based on New Hampshire Virginia Pennsylvania and Michigan where the state controls alcohol and lottery sales and therefore does not accurately represent the situation here in Massachusetts where 100 of lottery retailers are private stores and an online lottery system would directly compete with these stores As an advocate for locally owned retail alcohol beverage stores MassPack has worked to bring this information to the public s attention highlighting that during the fiscal year which just ended June 30th the Massachusetts Lottery brought in more revenue than ever before Sean Barry the President of MassPack and owner of Four Seasons Wine Liquor in Hadley MA commented that Removal of an online lottery threat is a big win for locally owned alcohol retail stores The state competing against privately owned stores would have resulted in a reduction of in store traffic The same outcome has been occurring throughout the state due to the ban of flavored tobacco products This is because residents now buy the banned products in Rhode Island New York and New Hampshire Once again it is clear that MassPack is the only trade organization advocating for our interests THE ADVISOR MAGAZINE 3 www LiquorLicenseAdvisor com

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What s Trending Now Liquor Industry Marketing Based on 2023 Trends by Michelle Hansford A global marketing solutions company Snipp released a valuable report 2023 Trends in the Alcoholic Beverages Industry US and Europe that highlights significant trends in the liquor industry and how the various sectors can utilize this information to effectively market and ultimately sell what consumers want According to Snipp s recent report The 5 Key Alcohol Consumption Trends for 2023 and Beyond are 2 Low No Alcohol Categories Will be Buoyed by Gen Z Y It has been well documented that younger generations are more health conscious than their predecessors This inclination with concerns about over indulging in a social media laden world has resulted in more moderate drinking behaviors amongst Gen Z Y leading to more and more low and no alcoholic beverage options across categories within the industry 1 Premiumization Will Keep Luxury Spirits 3 Conscious Cocktailing Will Have Cross Category Afloat Impact During the pandemic consumers attempting to treat themselves at home seemingly became more willing to spend more money on alcohol products as nights in became the new norm for celebratory events with a casual happy hour Fast forward three plus years this trend does not appear to be slowing down especially when it comes to the spirits and sparkling wine categories Environmental concerns especially prevalent among the younger generations have led to consumers paying closer attention to a product s sustainability as they are seeking out brands that are working to reduce their overall carbon footprint Recycling and reducing the impact of production processes are all being taken into consideration by brands in an effort to supply what s in demand THE ADVISOR MAGAZINE 4

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WHAT S TRENDING NOW CONTINUED 4 Ready To Drink Cocktails RTD Growth Will Blur the Boundaries of Beverage Companies Like premiumization RTD s became extremely popular during the pandemic and their popularity has not slowed down It appears that the success in this category will continue especially as the growing trend towards non alcoholic drinks is attracting investment from traditional soda brands as well Brands will need to be wary of a market that may soon be oversaturated and ensure that they innovate and stay relevant 5 E Commerce Sales May Moderate But OnDemand is Expected to Surge Again the pandemic set trends into motion that apparently have staying power and online alcohol sales are no different It is more important now than ever that brands pay attention to what consumers are buying not just in their stores and on premise establishments but online as well as many consumers are still choosing e commerce options So what are industry players to do with this information Snipp accurately points out that A key outcome of pandemic influenced consumption is that drinker profiles are blurring and changing and that Brands have unique opportunities to appeal to far broader audiences than ever before and attract new fans Here s how Snipp suggests they do it Appeal To Gen Z s Appetite for Authenticity Responsibility Brands must make their values known and appreciate younger consumers attention to sustainability and overall concern for the community Create a Halo Effect From On Premise Activations Snipp reports that research indicates consumers are more experimental onpremise than off so it is vital that brands capture consumer loyalty on premise so that they become repeat buyers off premise Surprise Delight to Encourage Social Media Shareability Again with a focus on the younger generations posting drinks and food on social media has become a way of life and brands are working with on premise partners to design drinks that can be served in memorable Instagrammable ways For example integrating drink personalization to a digital menu can provide a customized experience that stands out and encourages social media shares Enable Virtual Experimentation As people spend more and more time on digital spaces to learn play work and just about everything in between Alcohol brands are now exploring web3 strategies including gamified content virtual concerts and non fungible tokens NFTs to engage THE ADVISOR MAGAZINE 5

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WHAT S TRENDING NOW CONTINUED with this cohort of digitally savvy younger consumers that are typically difficult to reach via traditional advertising channels Promote Digital Initiatives via Packaging Innovations Drink labels play a big role in the way consumers buy products and QR codes have become a way that consumers can learn more about a product and ensure that the brand supports what s important to them like sustainability health conscious ingredients and minority owners Offer Cost Conscious Consumers a Reason to Indulge Financial concerns continue to loom over most consumers in 2023 which means that people are consistently looking for ways to save money Contests promotions digital sweepstakes and rewards initiatives are all ways in which brands can give these consumers a reason to keep buying their drinks of choice all while providing highly targeted and actionable information to marketers for future engagement THE ADVISOR MAGAZINE 6 A CNBC article published this summer titled Here are 5 key trends shaping the liquor industry as spirits overtake beer for the first time proclaims 5 buying trends that very closely echo those stated in the Snipp article They are 1 Celebrity brands steal the spotlight 2 Premiumization propels luxury spirits RTDs 3 No and low alcohol drinks are buzzy alternatives 4 Conscious consumers want a story and 5 Supply chain and inflationary issues persist The industry chatter currently revolves around what brands stand for while spending a little more and drinking a little less If you are looking for assistance navigating this industry chatter and your next steps give us a call Our expertise in the industry is here as a resource for you

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THE ADVISOR MAGAZINE  | 7It’s not surprising for many that Boston is one ofthe major cities in the United States that isn’t well-known to have a variety of options for what to dowhen the sun goes down. Some argue that thereason is due to the City curfew, which is in placeto reduce crime, support safety, and maintaincleanliness. Others say that transportation hasalso always been a main factor in Boston’s dullnightlife, since the T stops running at around 1:00AM, and rideshare prices have skyrocketed due togas prices and the issue of supply and demand. In June 2023, the City of Boston announced thatthey are going to act on the concerns surroundingBoston’s nightlife and launch the NightlifeInitiative for a Thriving Economy Committee, alsoknown as the NITE committee. Applications for thecommittee were posted in June, in search of adiverse group of Boston residents that haveexpertise associated with the food and beverageindustry as well as compliance and public safety. The applications were posted on the City of Boston’swebsite with the overall goal of attracting residentsready to “support the City’s work to evaluate existingregulations and policies impacting Boston's nightlifeeconomy and culture. The Committee will alsopresent informed findings and providerecommendations to the Office of EconomicOpportunity and Inclusion on potential opportunitiesand challenges affecting the growth and vibrancy ofBoston's nightlife economy.” Here at Liquor License Advisor, we are optimistic thatthis committee will help on-premise holders such asrestaurants, bars, and nightclubs expand theircustomer base for not only Boston residents butvisitors as well. A vibrant opportunity is in store forBoston’s nightlife, and we can’t wait to see what’s instore for business owners and the community. R E V I V I N G B O S T O N ' S N I G H T L I F E :R E V I V I N G B O S T O N ' S N I G H T L I F E :BY KATE NEWCOMBPrepare To Thrive

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With vacancies increasing and the asking rate climbing, we have become a major resource for our clients innegotiating or renegotiating their lease terms across Massachusetts. According to Lee & AssociatesCommercial Real Estate Services, these stats will continue to widen as landlords look to make up for lostrevenue from retailers who continue to experience the after-effects of the pandemic followed by economicstruggles. If you have questions about your upcoming lease or renewal, we're here for you. 617.648.5558 Do You Have A Lease Renewal Approaching?We Can Help!

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CAPE CODWE'RE HERE FOR YOUSince the pandemic, a specificstore type and location have beenin high demand. Liquor storesdoing close to or over $1 million insales that are well-run and inprime locations include but are notlimited to:SOUTH SHOREMIDDLESEX COUNTYIN HI G HSTORE OWNERS:CONTACTUS NOWWe have a number of highlyqualified buyers looking for well-run stores in specific locations.Call/text:(617) 648 5558Email:team@llausa.comLIQUORSTORESWANTEDDEMAN DIf this sounds like your store &/oryou've been considering sellingand want to know what youroptions are, it's time for aconfidential conversation.

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YOUR TRUSTED INDUSTRY PARTNER Did you know that for over 2 decades our Founder Dan Newcomb has been in the liquor license industry as the go to for other industry professionals and leaders Every phone call that comes into our office is about a liquor license We don t work in any other industry besides liquor stores and licenses We provide owners with a firewall to protect them from all of the pitfalls we know are out there throughout a transaction because we know how to prepare the deal and navigate the waters We re here for you Meet Our Team Dan Newcomb CEO Founder Ben Jerrom Buyer Specialist Jennifer Medico Transaction Specialist Kate Newcomb Project Specialist Michelle Hansford Seller Concierge Glenn Lawler Seller Specialist Sherri Beauchamp Marketing Specialist Questions Call 617 648 5558 or visit LiquorLicenseAdvisor com

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References Online Lottery Out of Luck Page 3 1 Online Lottery is Out of the Massachusetts FY2024 Budget Massachusetts Package Store Association dated July 31 2023 https www martignetti com education industry news 2023 online lottery is out of the massachusetts fy2024 What s Trending Now Page 4 5 6 1 2023 Trends in the Alcoholic Beverage Industry US and Europe Snipp TSX V SPN OTCPK SNIPF https www snipp com 2023 alcohol industry trends 2 Here are 5 key trends shaping the liquor industry as spirits overtake beer for the first time Stefan Sykes dated June 16 2023 https www cnbc com 2023 06 16 liquor industry trends as spirits take market share from beer html Boston Nightlife Page 7 1 CITY OF BOSTON OPENS APPLICATIONS FOR NIGHTLIFE INITIATIVE FOR A THRIVING ECONOMY COMMITTEE dated June 8 2023 https www boston gov news city boston opens applications nightlife initiative thriving economycommittee Special Contributions Acknowledgements Features Editor Editorial Assistant Michelle Hansford Kate Newcomb Magazine Digital Editor Sherri Beauchamp Liquor License Advisor 2023 All Rights Reserved Unless Otherwise Noted THE ADVISOR MAGAZINE 12

The Advisor - Issue #30

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