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Renowned coffee chains from China and Kenangan Coffee in Indonesia have entered Singapore as a stepping stone for their international expansion. The strategy to enter Singapore is attributed to its status as a financial hub, as well as its visibility for international investors leading to future expansion. At the same time, local consumers are sophisticated, open to trying new flavours, and are willing to spend for their daily caffeine fix.
Craft gin continues to gain prominence among younger consumers in India. Historically, a perceived lack of high-quality domestically-produced gin has hindered its consumption, as imported alternatives tend to be expensive. Recognising a gap in the market, several local entrepreneurs launched their own, home-grown craft gin brands, which were made primarily from indigenous botanicals.
Concentrates are becoming increasingly popular due to their affordability and specific functional benefits. While they are generally still a cheaper alternative to ready-to-drink beverages, consumers are now seeking more premium powder mix options with health, flavour, sugar reduction, convenience, and functionality as the main drivers.
After sharp retail price increases over the last two years, global soft drinks volume dipped significantly in 2023. Value-focused consumers are shifting into large format warehouse clubs, hard discounters and trading back to private label or B-brands in some categories. Yet a new value equation means more than simply seeking lower prices, with opportunities created by alternative formats, new functional need-states and category blurring premium innovation.
It’s generally argued that the Olympics Games have a positive influence on various sectors in the country where they take place, and Paris 2024 is no exception to this. The same positivity is prevalent for beverages. The Olympic Games can be a useful way for sponsors to showcase smaller brands within their portfolio and may also offer sponsors the chance to expand their consumer base.
Persistent inflationary pressures in Western Europe are forcing consumers to re-evaluate their spending priorities. While higher price sensitivity has led to a general reduction in non-discretionary spending, demand for affordable luxuries resists as consumers increasingly seek in-home luxuries and customised experiences. This article explores the primary audience for affordable luxuries and the specific product attributes consumers are willing to pay for.
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