Findings: • Erewhon, a high-end grocery store in Los Angeles, has become a cultural phenomenon, especially among Gen Z and influencers. It offers luxury snacks, such as $19 smoothies, catering to a growing trend of indulging in small, high-end treats. • This aligns with the trend Whole Foods dubs “Little Treat Culture,” where consumers reward themselves…
Category: Premiumization
Insight of the Day: New Starbucks Boss Reportedly Pulling Back on Discounted Drinks
Findings: • Starbucks is shifting away from discounts under new CEO Brian Niccol to focus on its premium, handcrafted coffee offerings. • Discounts were previously introduced to address declining customer traffic and high wait times due to higher prices. • Rising beverage prices and economic strain have led many consumers to reduce dining out.Key Takeaway:…
Insight of the Day: The State of American Whiskey in 2024
Findings: • The American whiskey industry is facing challenges similar to those encountered by craft beer, including market saturation, over-innovation, and slowing consumer spending. • Post-COVID, many whiskey enthusiasts have stopped experimenting as much, choosing instead to stick with favorite brands, leading to slower growth and excess inventory in retail. • However, the whiskey industry…
Insight of the Day: A new dawn for tequila: how the UK is waking up to the opportunity
Findings: • Tequila’s Popularity is Booming: Once seen as a spirit for shots, tequila is now a complex, premium drink enjoyed in cocktails, especially Margaritas. It is the second-largest spirit in the US and is gaining popularity in the UK, particularly in cocktail bars like Hacha, with increasing presence in the grocery market. • Sales…
Insight of the Day: Beyond the ‘premium’ label: What consumers expect from premium brands in New Zealand’s On Premise
• Findings: New Zealand consumers are increasingly seeking quality and taste when choosing premium drinks in On Premise settings, such as bars and restaurants. While they are willing to switch to premium brands, they prefer familiar options and need a clear justification for higher prices.Key Takeaway • Premium brands must emphasize their unique qualities, craftsmanship, and…
Insight of the Day: The Luxury Deodorant Boom Is Here, and It’s Just the Beginning
Summary of Findings:Luxury deodorants are gaining traction as consumers demand more from everyday personal care products. The market is seeing a shift toward high-end deodorants that not only focus on odor control but also integrate fine fragrances, premium ingredients, and a luxurious experience. Brands like PHLUR, evolvetogether, and Corpus are at the forefront of this trend,…
Insight of the Day: Alcohol industry embraces inclusivity and premiumisation to appeal to Gen Z
Findings: • Alcoholic beverage (alcobev) brands are increasingly focusing on inclusivity and premiumization to appeal to younger demographics, especially Gen Z and women. • The launch of McDowell’s X Series by Diageo India targets young consumers, offering premium vodka, rum, and gin at competitive prices, aimed at those willing to experiment with their drinking experiences.Key…
Insight of the Day: Premiumisation is slowing – but there’s a counter-trend
Findings: • After two decades of rising consumer spending on premium alcohol, the trend is reversing due to economic pressures and a general shift toward more moderate consumption. • The premiumization strategy, where consumers “drink less but better,” has been beneficial for alcohol producers by increasing margins. However, growth has slowed, especially at the Premium…
Insight of the Day: Consumption of Coffee Outside Home Returns to Pre-Pandemic Levels
Summary of Findings: • Return to Pre-Pandemic Levels: Coffee consumption outside the home has rebounded, reaching its highest level since January 2020. • At-Home vs. Out-of-Home: While 81% of coffee drinkers enjoy their coffee at home, 36% also consume coffee outside the home, showing the importance of both settings. • Perceived Health Benefits: A majority…
Insight of the Day: On Trend in the On Premise: The Current State of Gin
Findings: • The gin category is performing well within a declining spirits market, with increased market share, second only to tequila and cordials. • Super-premium gin brands are driving growth, outperforming other price tiers in the market. • Cocktails, particularly classic gin-based ones like martinis and negronis, are key drivers behind gin’s success in on-premise venues.Key…
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