GREECE: Greek consumers still chasing premium drinks - research

By | 24 July 2008

Drinks consumers in Greece are continuing to demand premium products, according to recent research.

In a report looking into the Greek wine & spirits market in 2008, released this week, drinks industry analyst the IWSR has said that latest data shows a marked trading-up across the board in the country. Last year, premium products, classed as those retailing at over EUR20 (US$31), increased by 6.1% year-on-year to reach close to 500,000 cases - an all-time high. This is in stark contrast to the total market for wines & spirits, which recorded growth of just 0.2%.

Of particular interest at present are the super-premium Scotches, Scotch malts, premium vodkas (on a limited scale), gins and sparkling wine, as consumers treat themselves and want to display their ability to buy expensive brands. This trend is also reflected in a renewed interest in premium domestic spirits with continued strong growth in locally-made premium ouzo and tsipouro.

This is certainly not the full picture however. Last year also saw a marked slowdown in the total Greek drinks market, with standard Scotch recording its fourth year of decline, but at a faster rate than in previous years.

The IWSR report also shows that further overall losses are predicted for most categories in 2008.

On a positive note, the new report reveals a renewed interest in rum: it may well be that the Greek market is another Spain in the making.

Expert analysis

Greece: Wines and Spirits Market 2008

The report gives you volume data on all categories and subcategories, the leading brands in each as well as retail pricing data, forecasts for 2008, market commentary (inc. on/off premise splits, background trends, and market specific information), distributors and key country background information.

Sectors: Beer & cider, Spirits, Wine

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