Good morning all
The William Grant Market Report was released this week, and two notable headlines include-
“Total premium spirits are now worth over £1.4bn, up +15.8% and accounting for 12% of all spirits value sales”
“Premiumisation remains a key driver for the spirits market with premium brands accounting for £239m of incremental value compared to last year”
It’s no secret that the current trend for consumers is drinking less but seeking quality when they do, and these headline stats contribute to this theory.
I asked the people of KAMunity, our online community of pub/bar shoppers whether, when drinking spirits in a pub/bar, they would rather have 3 drinks of a standard brand or 2 of a premium; 68% told me that they would rather have the premium offer- and when we cut that data by the younger generation, the figure is even higher.
But what encourages customers to trade up to a more premium brand? Seems that bar staff recommendation is incredibly important- 48% of those asked told us that they would be encouraged to choose a more premium brand just from a suggestion from staff- no promotion required.
Another weekend, another festival… the world famous Oxted Beer festival, that is, which is where I will be tonight, visiting old friends in my hometown, then heading up to Sheffield for Tramlines festival tomorrow.
Have a great weekend and please keep your pictures of exciting/innovative ‘things’ in the ontrade coming!