Young adults of legal drinking age having more free time on their hands because of the COVID-19 crisis helped to support sales of RTDs in 2020. Spirit-based RTDs, the only RTDs category to have established a significant presence in the Bolivian market, has seen consumption expand amongst younger adults in recent years.
Value-for-money is a key factor in purchasing decision in the RTDs category, with the core consumer base comprised of young adults of legal drinking age who tend to have low purchasing power and are, therefore, relatively price-sensitive. As a result, most major RTDs brands are supported by constant promotional activities.
The local brand, Cuba Libre, distributed by Opal Ltda, continued to dominate RTDs in total volume terms in 2020. It has a strong distribution strategy which covers not only Cuba Libre, but also whiskies, Johnny Walker and Old Parr, as well as the rum, Zacapa, amongst several others.
With young adults of legal drinking age remaining the key target group for RTDs brands, product innovation will continue to be a central focus of the development strategies of players in the category during the forecast period. This consumer group is highly fashion- and brand-conscious and is more open to experimentation with novel products and flavours than its older counterparts.
Given the relatively low purchasing power of its core consumer base and the particularly marked impact of the COVID-19 crisis on the spending power of this consumer group, RTDs is set to continue to be strongly focused on low-priced products and aggressive promotional activity during the forecast period. Therefore, even as players invest in innovation, they will need to ensure that their new products are competitively priced, especially as the challenging economic environment may encourage more consumers to see spirits and mixers as a cheaper option than RTDs.
Before the COVID-19 crisis curtailed consumers’ hectic, away-from-home lifestyles, RTDs was seeing a notable trend towards on-the-go consumption. Moreover, players were looking to adapt their product offers to the trend by launching products in metal cans, making it easier and more convenient to consume RTDs while out and about.
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This report originates from Passport, our RTDs research and analysis database.
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