Executive Summary

Feb 2019
PROSPECTS
Young professionals seek goods that show off their wealth and social status

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’ strategies target millennials

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.

Bars and clubs in key cities secure exposure for luxury brands

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.

COMPETITIVE LANDSCAPE
Moët Hennessy Philippines drives the category

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 set to continue their focus on young professionals

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.

Social media is increasingly utilised as a marketing and promotional tool

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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Overview

Discover the latest market trends and uncover sources of future market growth for the Fine Wines/Champagne and Spirits industry in Philippines with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Fine Wines/Champagne and Spirits industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.

The Fine Wines/Champagne and Spirits in Philippines market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Fine Wines/Champagne and Spirits in Philippines?
  • What are the major brands in Philippines?
  • How dynamic is the growth of Fine Wines/Champagne and Spirits internet sales?
  • What is driving growth?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply function

Fine Wines/Champagne and Spirits in the Philippines - Category analysis

HEADLINES

PROSPECTS

Young professionals seek goods that show off their wealth and social status
Companies’ strategies target millennials
Bars and clubs in key cities secure exposure for luxury brands

COMPETITIVE LANDSCAPE

Moët Hennessy Philippines drives the category
Players set to continue their focus on young professionals
Social media is increasingly utilised as a marketing and promotional tool

CATEGORY DATA

Table 1 Sales of Fine Wines/Champagne and Spirits by Category: Value 2013-2018
Table 2 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2013-2018
Table 3 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2013-2017
Table 4 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2014-2017
Table 5 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2013-2018
Table 6 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023
Table 7 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2018-2023

Luxury Goods in the Philippines - Industry Overview

EXECUTIVE SUMMARY

Luxury goods remains resilient in the face of unfriendly economic conditions
Positive 2018 growth for luxury goods
Highly fragmented, fast-developing industry
Internet retailing shoots for fastest growth
Positive, if slower growth forecast due to economic fears

MARKET INDICATORS

Table 8 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 9 Sales of Luxury Goods by Category: Value 2013-2018
Table 10 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 11 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 12 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 13 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 14 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 15 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 16 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources