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William Grant & Sons UK Launches Market Report

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William Grant & Sons UK Launches Market Report

William Grant & Sons UK Launches Market Report
July 29
10:33 2015

William Grant & Sons UK has launched its annual Market Report, an in-depth look into consumer behaviour and trends in the drinks industry. The report highlights the evolution of shoppers’ habits particularly when it comes to seeking value when they spend.

In 2015, value is much more than just value for money; it is now measured as the value that the brand, product or service can provide the consumer, whether on an emotional or functional level. Consumers will pay more if the entire proposition matches their values and beliefs. This is where premium products, can continue to thrive in a changing market.

Gary Keogh, Marketing Director of William Grant & Sons UK, comments: “The market is more polarised than ever and it’s premium brands that can really take advantage of this trend. It is notable how the trends we’re seeing in this post-recession, digitally transparent age are pointing towards consumers demanding more genuine relationships with brands, and how companies and brands who take that longer, more sustainable view are thriving. Growing confidence is being led by London and the South East in particular. But while the recession begins to fade it has left a lasting legacy in the form of consumer habits. Conscious choice-making about where to, and where not to spend disposable income is here to stay – thriftiness has become not only habitual but celebrated. This is conscious spending, not cost-cutting across the board. Consumers will spend money on those brands that offer something more to them, including the opportunity to associate themselves visibly and proudly with brands that project their values.”

WilliamGrantProductsHe continues: “As a family owned and run business, we’re in the privileged position of being able to take the long term view, to create brands that endure and build relationships that last, with consumers, our business customers and partners. Premium spirits is our business and we are proud of our strong cross-category portfolio, through which we will continue to deliver quality brands that are loved, and experiences that engage. We are in a good position to drive long-term value for our outstanding portfolio of premium spirits by continued investment and strong working relationships. This approach will enable us to deliver successful business solutions to our customers, to the benefit of their consumers.”

Key 2015 Findings

Spirits has had a strong performance this year growing almost twice as fast as the alcohol market, up 2.5%, with all channels of trade contributing to this. Premium spirits is growing at 14.1% (value), which is 5 times more than the total spirits market – the growth in premium spirits accounted for over 60% of total spirit value growth in 2014.

  • The number of food-led outlets has grown +4.9% in 2014 in total GB, compared to drink-led outlets which decline at -3.8%. 70% of all outlet opening in London in 2014 were food-led as city centres, in particular, take advantage of the growth in eating out occasions
  • Off-trade, the largest categories within the spirits sector are blended whisky and vodka, accounting for almost half of value sales. The fastest growing categories within spirits are flavoured/spiced rum (+23.9%) and American whiskey (+15.9%)
  • Changing market dynamics have seen fluctuations in the performance of different bottle sizes over the past year in the off-trade.1 in 5 spirit sales in convenience is a 35cl half bottle, bringing an additional £11m to the category. Similarly, 20cl bottles are also performing well in convenience with new entrants and distribution gains driving growth of +11.7%.

Miniature 5cl bottles have enjoyed good growth within convenience over recent years and more recently have entered the grocery multiples, leading to value sales of almost £23m and growth of +15.1%. 5cl is now the fastest growing bottle size in the market. The 5cl bottle is incremental to the category as it encourages trial and is ideal for gifting.

  • Total GB online retailing is now worth over £100bn, growing at 14% with 1 in 4 people in GB now shopping online at least once a week. Online plays a key role in how consumers are researching, with 50% researching online then purchasing offline in the off-trade, and 54% of consumers researching an on-trade venue before they visit.

The William Grant & Sons UK Market Report is compiled using the wealth of available expertise and insight within William Grant & Sons UK, together with market data, it highlights key trends to watch, and performance in key spirits categories and Champagne – while identifying the growth opportunities and how to capitalise on them so as to drive mutual growth for customers and partners so all parties can thrive in an increasingly competitive marketplace.

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