Anchor Brewing Company: A cautionary tale.

Anchor Brewing Company, the oldest craft beer in the nation, is shutting down after 127 years of operation.  The company cited challenging economic factors combined with declining sales since 2016.  The closure is sad, and it is instructive in the importance of differentiating your product in a highly competitive market.  Americans love craft beer, and the industry has been growing at meteoric pace for years.  In 2021 the industry reported a 21% increase in sales, and there were more than 9,500 breweries in the U.S.  The combination of the industry's popularity and the rapid increase in competition demanded a strong crafted marketing strategy.  Sadly for Anchor Brewing Company, it does not appear to have been readily on hand.  Small businesses across the US are in the same position.  To differentiate themselves from their peers, they must satisfy a significant market need to an extent that none of its significant competitors can.  You cannot rely upon a marketing position of strength because you were the first company in the game.