Market research
The Olympic Games in China, which took place earlier this summer, is expected to have a "profound effect" on spirits companies in the country, according to recent research.
A report entitled Spirits in China by research company Euromonitor, released earlier this year, has forecast that all Chinese spirits companies can expect to benefit from a halo effect from the games.
"The whole world will have its eye on China's domestic alcohol brands," the report says. "There might be greater chances ahead after 2008, and domestic players will use the chance to sell their products to the world."
At the same time, the Olympics would "bring the world more closely to traditional Chinese consumers", the report continues, resulting in international drinks companies becoming more attracted to China "as local consumers will demand more exotic high quality and premium products".
The Olympics would serve not only to boost spirits brand images at home and abroad, Euromonitor said, but also "the post-Olympic period will be a milestone for China's overall economy as well as for alcoholic drinks".
Only two drinks companies in the country secured official Olympic sponsorship prior to the games - Tsingtao Brewery Co. and COFCO Wine & Spirits Co.
Sectors: Beer & cider, Soft drinks, Spirits, Water, Wine
Companies: Tsingtao Brewery Company
