Beer and Value

Today, I'd like to raise a quick point about the value we assign to craft brands. I've been thinking a lot about this while reading all the commentary on the 10 Barrel/Budweiser deal.

So I'm wondering - why do we value certain beers and brands over others?

The immediate reaction is, of course, quality. We, as beer drinkers, appreciate beer that is higher quality - coming from superior ingredients, made using traditional or time consuming processes, and resulting in an excellent product.

But clearly this isn't the sole reason for a brewery's perceived status. There's also the marketing - pricing, locality, and PR (especially via social media), among others.

The most important driver of perceived quality, by my estimation, is scarcity. Tell a beer fan there's a barrel aged stout on offer, and he may or may not bite. But add the fact that it's super limited and one-time only, and more often than not, that'll make the sale.

Relative monetary value is also worthy of consideration - it's why I think Pyramid's Outburst DIPA is a quality beer, and why I tend to avoid Rogue's.

Of course, people have many reasons for drinking craft beer - love for a superior product, desire to support local business, and many others. And I'm not one to judge one reason as more valid than another.

All this is to say that when we value a beer or a brewery, it's worth thinking about why. Some beers are obvious - Pliny is valuable because it's great for the money, and it's relatively scarce. But others defy easy categorization. So, consider these thoughts next time you're super excited about the prospect of trying a specific beer.