Customers Prefer Premium Spirits

Trading up to quality drinking occasions

Sales of premium spirit brands in the UK are growing at a much faster rate than in the total alcohol industry as consumers seek to ‘trade up’ to satisfy their need for less but better drinking experiences.   This trend has been fuelled by continued austerity in Britain along with the government’s drive to curb the nation’s alcohol consumption.  According to the First Drinks Market Report 2013, premium spirit sales have grown in value by 25% in the on-trade and 4% in the off-trade sectors.  An influx of foreign wealth, particularly in London, is driving sales for prestige spirits.  This increase in high net worth individuals has helped to drive growth at the ‘super’ and ‘ultra-premium’ end of the market, particularly with exquisite, aged cognacs.