Alcoholic drinks are popular with South Africans to celebrate special occasions, self-care or indulgence purposes, and for gifting. However, due to the challenging economic environment, local aspirational consumers across the more price-sensitive income brackets are likely to continue downtrading to more affordable options rather than splurging on fine wines/champagne and spirits.
The review period has seen the rise of influencer marketing in South Africa, with brands in different industries associating themselves with leading key opinion leaders via social media platforms to promote and create awareness among their target audience. Alcoholic drinks has been no exception.
The South African government’s ban on the distribution and trade of alcohol at different times during the pandemic led to losses by the government and industry stakeholders due to a lack of sales of local alcohol, as well as tax duties from alcoholic drinks imports, including luxury alcoholic drinks. However, significant gains were made by counterfeit alcohol during this period, with the threat of even more profits going to counterfeit alcohol due to poor law enforcement.
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Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.
See All of Our DefinitionsThis report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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