Following a steep contraction in 2020, spirits posted double-digit growth in on-trade volume sales in 2021. This impressive turnaround was underpinned by the rollout of COVID-19 vaccines and the easing of pandemic-related restrictions in Bosnia and Herzegovina, which encouraged local consumers to start regularly socialising outside the home again and facilitated the return of inbound tourists.
Brandy, one of the largest spirits categories in Bosnia and Herzegovina, posted negative results in off-trade volume and current value sales terms over most of the review period. This was mainly due to increasing maturity and growing competition from other product types, though the disruptive impact of COVID-19 also contributed to the declining trend in 2020.
Off-trade sales of spirits via e-commerce increased in Bosnia and Herzegovina in 2020 after non-essential retailers were forced to temporarily close due to lockdown measures and fear of contracting COVID-19 made people more reluctant to visit brick-and-mortar stores. Despite improvements in the local epidemiological situation and the relaxation of public health restrictions, the channel continued to gain importance in terms of off-trade spirits distribution in 2021, as many people have recently developed a greater appreciation for the convenience, extensive range of choices and potential for more competitive price deals online shopping affords.
While off-trade volume sales of spirits are set to increase over the forecast period as a whole, growth is likely to be modest and slightly weaker than that recorded during the review period. This is mainly because brandy – by far the single biggest category in this regard – is expected to see retail demand contract from 2022 onwards due to a combination of maturity, more intense competition from other product types and population decline in Bosnia and Herzegovina.
In contrast to the projected scenario at the off-trade level, over the forecast period spirits is expected to show an improved performance in on-trade volume sales terms as compared to 2016-2021. This is primarily because the relevant review period CAGR was negatively skewed by COVID-19 lockdowns and the collapse in inbound tourism in 2020.
With the fallout of COVID-19 having made consumers in Bosnia and Herzegovina more comfortable with online shopping and compelled store-based retailers and producers to invest in improving their capabilities in this area, e-commerce is expected to gain ground in terms of off-trade spirits distribution over the forecast period. Increasing appreciation for the convenience of this channel will also support its advance as the pace of consumer lifestyles accelerates in the wake of the pandemic.
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This is the aggregation of whisk(e)y, brandy and Cognac, white spirits, rum, tequila, liqueurs and other spirits.See All of Our Definitions
This report originates from Passport, our Spirits research and analysis database.
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