Fine Wines/Champagne and Spirits

The luxury goods industry posted another year of positive growth in 2018, after a challenging 2017. The concept of luxury continues to shift in line with changing consumer values. Technology has been especially disruptive as it continues to ...

The United Arab Emirates is a popular holiday destination and commerce centre, with the number of international visitors continuing to rise, thus contributing to growth within fine wines/champagne and spirits. However, the fact that consumers tend to...

The shifting business environment is set to be a key influence on the development of fine wines/champagne and spirits during the forecast period. A reduction in the number of business dinners and face-to-face meetings, particularly with foreign ...

Fine wines/champagne and spirits in Romania evolved over the review period, offering in 2018 almost any product or brand that a consumer could demand. Romania has the same consumer habits as any European market. In 2017 and 2018, vodka was the “star”...

In 2017, the government devised a new tax structure for alcoholic drinks and tobacco, officially called the Excise Tax Act BE 2560 (2017). The revision of tax hikes aims to provide efficiency in tax collection by basing calculations on retail price, ...

Fine wines/champagne and spirits recorded a better performance in 2018 than in the previous year, and consolidated the satisfactory pace of growth seen over the last years of the review period. Current value sales increased despite the continuous ...

South Africa has a well-established wine culture among its locals. The country hosts many wine festivals, which attract local and international attention. Local consumers, being wine connoisseurs, have developed more sophisticated tastes and ...

Fine wines posted the strongest current value growth within fine wines/champagne and spirits in 2018. Such significant growth was due to availability in almost every distribution channel, such as off-licences, luxury hotel chains and high-end ...

Value sales of fine wines/champagne and spirits are benefiting from consumers opting for better-quality alcoholic drinks in Italy overall. Domestic buyers, who have higher importance in fine wines/champagne and spirits compared with many other luxury...

Premiumisation continued to be a key driver of growth in fine wines/champagne and spirits in 2018. It has increasingly been recognised that consumers are likely to try a more premium, high-priced alcoholic drink over a cheap one for a variety of ...

Over the last couple of years, consumers have started to purchase and consume less expensive products. As a result of the economic crisis, many Brazilians opted to not spend significant amounts on a single fine wine or champagne bottle. However, ...

Argentinians have the habit of buying luxury spirits and fine champagne mainly from duty free when they travel abroad, since prices are significantly more convenient and there is a greater variety of products. When they buy within the country, they ...

Traditionally, luxury wines/champagne and spirits have been reserved for special occasions, such as Chinese New Year holidays, banquets or business dealings; however, today’s consumers tend to take a more casual approach to drinking alcoholic ...

The depreciation of the pound sterling had a disproportionate effect on the wine industry, which tends to be reliant on imports. Wines from France, Spain and Italy are increasingly expensive for British retailers to buy, and they reflect these higher...

Affluent consumers are getting used to the idea of consuming luxury wine or champagne during fine dining or at occasions or parties. Although this change in mindset could be attributed to the fact that more people are travelling abroad for work or ...

Since the removal of custom duties on wine in 2008 Hong Kong has developed into a trading and distribution centre for wine in the region. This position received a further boost after Hong Kong reached an agreement with government in Mainland China to...

Domestic consumption has helped all luxury alcoholic drinks record value sales growth. Sales were assisted by the domestic economy, which started to recover in 2016 and fared even better in 2017. While growth was fairly moderate for fine champagnes ...

Premiumisation continues to be a key driver of robust growth in fine wines/champagne and spirits. Consumers are increasingly showing interest in drinking less but drinking better; showing a preference for more complex and expensive liquors across all...

In 2018, fine wines/champagne and spirits continued to record solid current value growth, even registering a slightly stronger performance compared to the previous year. That was particularly noteworthy due to the fact that alcohol consumption in ...

Sweden’s economy continued to perform relatively well in 2018, benefiting from falling unemployment, continued real GDP growth and increasing disposable incomes. These factors helped boost spending on premium and luxury food and alcoholic drinks, ...