With the increasing penetration of and dependence on social media, defining one’s social status has never been as important, especially for young consumer groups. Aside from investing in more practical goods like property, businesses and automobiles, young professionals are also using fine wines/champagne and spirits to showcase their wealth and social status.
Companies sought to engage young professionals through strategic marketing campaigns in 2018. In the first quarter of 2018, Diageo’s Johnnie Walker utilised its global ambassador, the US actor James Marsden known for his role in the highly-popular “X-Men” films, in the Philippines.
There is a growing preference among young consumers for bars and clubs to spend their Friday nights, weekends and holidays. Young adults socialise with friends and meet new acquaintances at night events in the growing number of bars and clubs in cities.
The global prominence of the leading player supports its leadership, supported by strategic marketing aimed at building fine wines/champagne and spirits in the Philippines. The company banks on attracting millennials, while enjoying strong custom from affluent middle-aged and older consumers.
Players are investing more in engaging with young consumers, especially millennials and young professionals, in order to build brand loyalty and gain a competitive edge. Promotional strategies intended to appeal to millennials are likely to increase over the forecast period, as more mature age groups are more set in their consumption habits.
Non-luxury brands of alcoholic drinks have enjoyed success through promotional strategies to attract millennials, especially via social media. It is much easier for non-luxury brands, since their products are much more affordable.
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