As we batten down the hatches for 'World Economic Meltdown II: The Revenge', it seems that quite a lot of people simply aren't scared enough. Last week, Diageo and Pernod Ricard produced organic sales rises of 9% and 11% respectively for their first fiscal quarters.
There are, it seems, enough consumers in emerging markets across Asia, Africa and Latin America to make up for the prevailing caution in western markets. However, even this analysis, while broadly correct, paints too much of a simplistic picture.
Premium spirits sales are doing relatively well in the US, for instance, against a backdrop of high unemployment. Moreover, the Champagne industry – often likened to the canary in the economic mineshaft – has continued to prosper. Last week, Vranken-Pommery-Monopole reported third-quarter sales up by almost 9%.
The party could yet turn ugly but, for now, the music is still loud enough to annoy the neighbours.
Speaking of emerging markets and speaking of Diageo, last week saw our two-part interview with the company's president for Asia Pacific, Gilbert Ghostine, hit the news-stands. Click here to read how Ghostine dealt with our questioning.
Also, on the features front, Chris Losh looked at an area that has often been a source of confusion and derision; the generic wine region marketing campaign.
Until next time...