Two key takeaways we took from a recent note by Bernstein Research's Trevor Stirling: smaller, premium brands are driving growth in US spirits, and the industry is continuing to reduce promotions at the off-premise. In a way, these two items go hand in hand. Trevor notes that the spirits industry's price-mix continues to benefit from the decline of value vodkas, like Popov, in combination with the strength of Grey Goose, Jameson, Jim Beam, Hennessy VS, Ketel One, Woodford Reserve and Maker's Mark, to name a few.