Fine Wines/Champagne and Spirits

Fine wines/champagne and spirits saw a strong double-digit current value decline in 2020, and an even stronger retail volume decline, after seeing solid increases during the previous years of the forecast period. A national ban on the trading of…

Luxury goods was among the industries hardest hit by the Coronavirus (COVID-19) pandemic with sales damaged by temporary store closures, travel bans and weakened consumer spending. In addition, the pandemic also accelerated a channel shift to…

After many years of double-digit retail current value increases, fine wines/champagne and spirits has turned to significant double-digit decline in 2020. With India under nationwide lockdown due to COVID-19 from 25 March until the end of May, brands…

In 2020, the ongoing lockdown measures in Malaysia limited consumer ability to purchase fine wines/champagne and spirits. When the government enacted the Movement Control Order (MCO) in March, drinks specialist retailers (which represent the leading…

The fine wines/champagne and spirits category performed relatively well in 2020, demonstrating only marginal negative value growth. This was underpinned by the fact that there was no official lockdown for bars in South Korea, only guidelines on their…

The COVID-19 pandemic had a negative impact on retail value sales of fine wines/champagne and spirits during 2020, mainly because many Australians were more price sensitive as a result of economic uncertainty due to the pandemic. However, with the…

Fine wines/champagne and spirits experienced a less dramatic impact from COVID-19 than personal luxury categories, largely as a result of its strong local consumer base. While on-trade sales were seriously affected by the forced closure of catering…

The Canadian lockdown period, generally lasting from mid-March to May 2020 for most regions, resulted in a sales shift in favour of the retail channel due to stockpiling and increased at-home consumption. Retail liquor stores, operated as…

Fine wines/champagne and spirits are set to see a limited impact on sales in 2020 as a result of COVID-19. The major difference between this category and many other luxury goods is their comparatively low dependence on international travellers for…

A rising interest in gastronomy and a stronger desire to spend on experiences and occasions are the main sales drivers in fine wines/champagne and spirits in Sweden. During 2020, fine wines/champagne and spirits consumption declined as consumers…

The large-scale adoption of social distancing restrictions in response to the COVID-19 pandemic led to a deep slump being registered in sales of fine wines/champagne and spirits during 2020. This was mainly because the COVID-19 pandemic and the…

Although the Philippines introduced a ban on sales of alcohol during the pandemic, the move was anticipated by many consumers of fine wines/champagne and spirits, many of whom stocked up on their favourite products in the days leading up to ban.…

The shift from dining out to eating at home had a positive impact on retail sales of fine wines/Champagne and spirits in 2020. During the state of emergency in April and May, foodservice outlets were forced to close and consumers were unable to drink…

Overall, fine wines/champagne and spirits will be hardly impacted by the COVID-19 pandemic in 2020. As no lockdown has been implemented in Taiwan, restaurants and bars have remained open meaning consumers have had ongoing access to fine…

Occasional drinking declined abruptly in 2020, with special occasions such as weddings and baptisms celebrations postponed, leading to a limited need for fine wines/champagne and spirits. Weddings in particular, often involve fine wines and…

The panic buying and stockpiling effect that benefited many food and drink categories in 2020 did not benefit fine wines/champagne and spirits. In terms of alcoholic drinks, there was some stockpiling, but this tended to favour beers and non-fine…

Lockdown and social distancing measures introduced to curb the spread of COVID-19 saw the closure of bars and restaurants as well as the suspension of social events in Argentina in 2020. This had a strong impact on the overall performance of fine…

The COVID-19 pandemic and associated lockdowns and economic difficulties had a strong negative impact on the sale of fine wines and luxury spirits in 2020, notably in Q2. While a gradual recovery in sales was expected over subsequent quarters, all…

Fine wines/champagne and spirits was registering good growth until the emergence of the COVID-19 pandemic, which impacted spending on more expensive products. The decline, however, could have been more significant but sales benefited from more Dutch…

As with other categories within Thailand’s luxury goods market, foreign residents and tourists make a huge contribution to overall consumption of fine wines/champagne and spirits. This meant that the closure of Thailand’s borders to foreigners in…