Blog: The economy - how bad is it? Ask the Russians
Olly Wehring | 25 November 2008
Just how murky is the economic gloom enveloping us all? You only have to ask the Russians.
I read an interesting piece from Reuters yesterday, which claimed that Russian drinkers are veering away from vodka in an attempt to save money, resulting in a glut of the drink in the country's supply chain. "People are having to save money, including on drinks, and this is connected to the impact of the financial crisis on people's disposable incomes," Pavel Shapkin, president of the National Alcohol Association, told Reuters.
So, they're drinking less, right? Wrong. The number of deaths from alcohol poisonings in September in the country rose to 1,458, Shapkin added, as consumers look to get their fix from all manner of illicit sources.
Speaking to a senior executive at a vodka company today, I found that the situation in Russia really is as bad as Reuters suggested. “Retailers in Russia are demanding longer credit terms,” he told me. “It's sliding up the chain.”
You know it's bad when the Russians aren't drinking vodka.
Philadelphia’s soda tax came into force on Sunday, and is reportedly causing a stir in the city's check-out aisles....
Earlier this month, I was most-kindly invited by Accolade Wines to visit the Royal Albert Hall in London. The reason? They wanted to see a tennis great in action, and then give them a guided tour thro...
Do you like whisk(e)y? And, I mean, really like whisk(e)y? Are you at a loose end in the first half of 2017? If so, then I've found just the job for you....
Most of the time, changes at the top of a company present themselves in press releases, stock exchange filings or responses from a spokesperson....
- What's coming up in spirits in 2017? - Comment
- When BRIC markets go horribly wrong
- What's coming up in beer in 2017? - Comment
- Interview, Philip Gregan, New Zealand Winegrowers
- Remy Cointreau's bellwether Q3 - analysis
- Diageo closes spirits e-commerce portal in UK
- A-B InBev acquires Spain's Cervezas La Virgen
- Home entertaining offers drinks opp's - Diageo
- Diageo mulls United Spirits stake buy - report
- Remy Cointreau sets up whisky division
- Global vodka insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends
- Opportunities in Craft Spirits