South Africa has a well-established wine culture among its locals. The country hosts many wine festivals, which attract local and international attention.
The growing affluent black consumer group is also demanding more discretionary products such as fine wines/champagne and spirits. Fine wines and champagne are, additionally, a status symbol for nouveau riche black consumers, who can often be seen ordering expensive drinks in upmarket clubs and posting pictures on their social media pages.
To drive sales, a more targeted marketing approach is being used to promote new luxury brands to aspirational and wealthy consumers. In terms of channels, upmarket hotels, clubs, restaurants and specialised retailers tend to be the main distributors of luxury drinks.
The competitive environment in fine wines/champagne remains highly fragmented. Only a small number of mainly international players hold more than negligible value shares.
Wealthy consumers seek unique, rare and vintage-quality fine wines/champagne and spirits which are not only difficult to source, but come with a high price tag. Frequently, these unique products become collector’s items, rather than opened and consumed immediately.
The wide range of prices in fine wines/champagne and spirits ensures there is a wide variety of products available. These range from affordable, aspirational and absolute luxury products.
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Discover the latest market trends and uncover sources of future market growth for the Fine Wines/Champagne and Spirits industry in South Africa with research from Euromonitor's team of in-country analysts.
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