Spirits Stand Up To Recession
Peter Cressy has released supplier data at an annual briefing for media and analysts showing 2009 volume growth of 1.4% but revenue holding steady at $18.7 billion for the year. He said market share versus beer and wine grew one-half a point by volume but declined slightly by two tenths of a point by revenue. Cressy attributed the slower growth compared to 2008 to some trading down among consumers. However, he cited a long-term analysis of prior recessions which showed a strong trend back to premiumisation as the economy improves. "Our data shows that there is light at the end of the tunnel," Cressy said. "The question remains, how long is the tunnel? Following the historic pattern, once consumer confidence returns, premiumsation will also return. Consumers will again gravitate to affordable luxuries." [...more]
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