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The Future of Spirits: Capitalizing on New Opportunities and Preferences
Datamonitor, Feb 2010, Pages: 144
The spirits market has benefited from consumers' shifts away from beer and their trading up tendencies. However, this does not mean that the category has been immune from the economic downturn. Success is increasingly dependent on balancing traditional values that characterize quality with positioning that takes advantage of the category's renewed social currency among newer consumers.
Scope
- Detailed insights and analysis documenting the drivers and inhibitors of the spirits market
- Exclusive occasions, market and consumer survey data and analysis covering each category
- Strategic conclusions combined with actionable recommendations for all industry players looking to fully capitalize on this market
- Countries covered: France, Germany, Italy, the Netherlands, Spain, Sweden, UK, US, Australia, Japan, South Korea, China, India, Brazil, and Russia
Highlights of this title
Alcohol sales growth is suffering from the affects of the global downturn, but longer term trends such as moderation for health or expenditure reasons are well established threats. The shift towards premiumization and a higher value/lower volume consumption pattern is set to continue but has lost momentum and is not forestalling the sales decline
Price and value-for-money are growing as influencing factors in what drinkers consume, where they consume and in what volume. The negative economic backdrop has clearly been a major motivator in this, and has further favored the off-trade over the on-trade.
The spirits category is in relatively good health in the context of the overall alcohol market. Spirits could also have an advantage in some emerging markets where the category is well established compared to beer and wine based on the strength of domestic/traditional spirits products and also an interest in global products such as whiskey.
Key reasons to purchase this title
- Consumer understanding: obtain a detailed understanding of consumer attitudes and behaviors towards spirits
- Market understanding: identify the key spirits markets and product innovation trends in 15 countries across four territories
- Ideation: find inspiration for innovative formulations and positioning that takes advantage of consumers' desires for premium and health attributes
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