Sure, the U.S. drinks market is significantly different to Australia, but so often, the trends in the States filter through to us eventually. And lately, it seems that the premiumisation mega-trend that has hit spirits in recent years is finally slowing.
Or at least that's what the latest data from the WSWA (Wine & Spirits Wholesalers of America) shows, with the Q1 2023 report showing that the $US25+ price segment is down a combined -3.5%, with the only premium tequila/agave spirits (at +5.1%), U.S. whiskey (at +3.8%) and gin (at +0.6%) achieving growth.
You can read the full report here, but what it does show is that one of 2023's predictions might be way off the mark (as we profiled here). Again, this is the US and just spirits, but it will be fascinating to see whether the cost of living crisis might be biting into how much drinkers are willing to part with for an upmarket product.
What do you think the rest of 2023 will hold for premium spirits in Australia?