Despite low purchasing power and consumer confidence, premiumisation is a key trend in spirits. Consumption of spirits has declined among Greeks since the outbreak of the recession, yet they are increasingly upgrading to premium and super-premium brands.
Home consumption of spirits remains low in Greece and was further affected by the recession, which forced consumers to re-evaluate spending patterns. When it comes to home consumption, domestic spirits (ouzo, raki, tsipouro) dominate.
Spirits in Greece is split between imported products, such as whiskies and vodka, and domestic ones, like ouzo, tsipouro and raki. While ouzo sales are decreasing due to maturity, tsipouro and raki are posting a strong increase in share within spirits, driven by their lower retail prices in both the off- and on-trade.
Diageo is the leading player in spirits, with the company holding the lion’s share of sales within whiskies. Diageo continues to invest in whiskies, despite the decline in sales of Scotch.
Jameson is the best-performing brand in Pernod Ricard’s portfolio. The brand is driving growth not only in Pernod Ricard’s sales, but also in Irish whiskey as a whole, contributing to an increase in consumer awareness that is benefiting other brands too, such as Bushmills and Tullamore, both of which posted increases in sales.
The premiumisation trend is benefiting domestic drinks importer Amvyx, which has a brand portfolio mostly comprised of premium and super-premium brands. Some of the company’s best performers are Tullamore Dew, Grey Goose, Bombay Sapphire and Hendrick’s.
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This industry report originates from Passport, our Alcoholic Drinks market research database.