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Why has there been a decline in spirits sales?

Consumers worldwide are drinking less alcohol for the first time in around 15 years. Recent studies have suggested that global consumption of alcohol has decreased over the recent years. There are many factors to why there has been a decline in spirits which will be explained below.

Over the last few years, there has been a decline in spirits sales globally. The largest spirit sector to have been affected is Vodka and Rum. Vodka and Rum were noted to be the worst performers in sales. Vodka and Rum sales are thought to have declined the most over the recent years; this was not due to the taste but rather to the increase in price. Vodka companies have tried to be unique by making new flavour Vodkas however this innovation failed as consumers preferred the standard taste.

Due to the increase in spirits prices year on year, many consumers have stopped buying alcohol to save money. During 2008 when the recession hit the UK, consumer’s main priority was to save money to buy essentials they need. This consequently meant that UK spirits sales had declined.

Another factor why spirits sales have declined over the recent years is that consumers are looking to buy premium high-quality spirits.  Consumers are buying less alcohol but of a much higher quality.  Sales of Vodka fell to around 3 billion litres however Whisky products had grown to 335 million litres.

This year’s Spirits Strategies event helps overcome this challenge by discussing issues such as what strategies are required to increase brand growth within the spirit market. In addition to this, the event will also allow for like-minded peers to share ideas on how the industry will evolve in addition to introducing attendees to new strategies, concepts and ideas.

For more information about the event, please click here or email us at events@arena-international.com

Countdown to Spirits Strategies Congress 2017