Blog: Drinks makers toast thirst for luxury
Chris Mercer | 19 October 2011
Like retired colonels sipping Champagne on the deck of the sinking Titanic, there are plenty of consumers around the world who still very much have a taste for luxury.
If you're going down then you may as well go down in style. Sales results from Moet Hennessy and, to a lesser extent, Diageo have shown this week that plenty of consumers around the world still have a taste for premium spirits and Champagne.
A large proportion of those consumers may be in the so-called emerging markets, be it expensive Cognac lovers in China or Russians with a refreshed economy and a wallet bulging for bling. However, the US spirits market also appears to have continued its upward momentum in 2011.
Diageo said today (19 October) that spirits drove its net sales in North America up by 5% for the first quarter of its fiscal year, to the end of September, even though its volume sales slipped by 2%.
Will it last? Diageo's CEO, Paul Walsh, was careful to highlight that the company is "alert to any impact which the fragile global economy may have on trading patterns". Moet Hennessy, meanwhile, saw its momentum slow slightly from the first half of 2011 to the third quarter.
Some markets are clearly in trouble, particularly those in southern Europe. There does, though, seem to be a hardcore of consumers who are intent on carrying on regardless of the gathering global economic storm clouds.
This weekend sees yet another “International Day” for a drinks category. Lucky us. Anyway, ahead of Sunday’s International Cachaça Day, here’s a wealth of information on Brazil’s national spirit, cour...
In yet one more sign that The Coca-Cola Co is losing its lustre, the soft drinks maker has, for the first time, fallen out of the top ten of a 'world's biggest brands' ranking....
What a week for stats! Yesterday, the Beverage Marketing Corporation released figures to show the bottled water market had more than doubled over the past 15 years in the US....
The Euro 2016 football tournament is almost upon us....
- The post-Brexit winners and losers - Analysis
- What Brexit means for drinks industry? - Analysis
- What does Brexit mean for AB InBev's SAB deal?
- Customisable drinks - The next consumer trend
- Interview - Seedlip founder, Ben Branson
- Carlsberg to close UK distribution arm
- Pernod Ricard exec shuffle - Denis O'Flynn leaves
- C&C Group will be a Brexit victim - analyst
- Pernod Ricard gives Beefeater packaging revamp
- The UK Referendum - just-drinks Live Blog
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Spirits and Wine: Corporate Overview
- Global RTD insights - market forecasts, product innovation and consumer trends