DISCUS

Drinks Up! Sales of Luxury Booze Surging Again, and So Might Prices

Filed under: Spirits

Americans bought more high-end and super-premium drinks in 2010 than the year before, says the Distilled Spirits Council of the United States (DISCUS). And while it is a good sign for the economy, the trade group said the levels of purchase are not yet back to pre-recession levels.

Overall spirits consumption was up 2% last year, a slower rate of growth than the 2.9% average annual growth between 2000 and 2007. Sales of high-end brands and products by volume were up 3.3% and sales of super-premium products were up by 10.6%, said DISCUS. Sales of super-premium products rose an average annual rate of 14.7% 2000-2007. "We aren't back yet to where we were, but the signs are all there for a steady recovery," says DISCUS CEO Peter Cressy.

While the news that people are feeling comfortable about buying super-premium liquor is a good sign for the economy, it also means prices to could climb in 2011. Any uptick in consumer demand could embolden spirits makers to raise prices.

Tags: ardbeg, booze, DISCUS, effen vodka, Grey Goose, Johnnie walker blue, spirits sales 2010