Consumers worldwide are flocking to purchase niche premium drinks, according to the results of a new study. The Ideal Wine Company investigates.
Global Trends Report
London-based market research organisation IWSR has recently released its latest Global Trends Report. Compiled every year, this paper utilises drinks sectors research from over 118 nations, in order to provide key insights on both emerging and continuing industry trends across the planet.
IWSR found that across major markets, consumers are trading-up to higher value products. Here at the Ideal Wine Company we specialise in providing fine wines, so we understand that when you purchase high-end bottles, you’re in for an amazing drinking experience. Browse the Ideal Wine Company’s Champagne list today if you’re looking for the ultimate luxury drink!
Erosion between categories
Within the Global Trends Report, IWSR also discovered that consumers are gradually embracing other drinks categories. The firm noted that the growth of craft production is still going strong, while there have also been increases in niche categories such as premium mezcals and Japanese whiskey.
IWSR also witnessed “further erosion of the boundaries between categories,” in the past year, with consumers increasingly becoming more adept at swapping between them. Going on, the report explained: “Consumers are showing an increasing willingness to switch categories if another appears more dynamic or fashionable. This has led to migrations not only within spirits, but also in some cases between broader categories.”
Exploring key demographics
Industry publication The Drinks Business writes that the within the paper, IWSR explored the key demographics that are increasingly shaping the modern drinks industry. IWSR noted that millennial consumers, those aged 21 to 38, are gradually becoming more important in established drinks markets. For instance, earlier this year, a study from the Wine Market Council, an industry non-profit body, showed that millennials now drink more wine than any other age group in the US.
Meanwhile, the report also found that women are increasingly engaging in emerging drinks sectors, especially those of Asia, Africa and Latin America. Within the paper, IWSR further noted that convenience and online drinks sales continued to expand throughout the past year. Recently released figures indicate that increasingly, British consumers are buying wine online.
Buying premium drinks online
Due to the global economic recovery and rise of digital technology, more Britons are choosing to purchase fine wine on the internet via online retailers such as the Ideal Wine Company. Buying wine online with us is incredibly easy. Select your vintage on our official website, head to our ‘checkout’ and then submit your payment, in order to purchase a truly fantastic luxury bottle!