Filed under: Spirits
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.