William Grant reveals UK consumer trends in 2020 report
Glenfiddich owner William Grant & Sons has unveiled a number of trends in its Trending 2020 report for the UK market, with consumers demanding more authenticity and immersive experiences.
The report contains analysis and data to highlight what trends are impacting the UK spirits market, which is now worth £11.4 billion (US$14.6bn). Gin is worth over £2bn (US$2.5bn) and if growth continues, it could overtake vodka as the biggest category next year.
Premium spirits (priced above £23) are now worth £1.66bn (US$21.bn), up 16.3% and now account for 34.3% of all spirits value growth over the last year.
William Grant & Sons’ Trending 2020 report has identified a number of trends including: my identity, my health, my experiences, my expectations and my values.
The report builds on the 2018 Market Report and identifies the rise of the ‘active-ist’ consumer, which is “presenting new challenges for brands”.
William Grant defines this consumer as having a “desire for curated social experiences, greater control of personal data and purpose-driven brand engagement”.
Neil Barker, managing director, William Grant & Sons UK and Ireland, said; “The 2019 active-ist consumers’ demands for control and a stronger voice is rooted in their desire to drive positive social change.
“Significantly, Trending 2020 also reveals that consumers continue to expect the brands they engage with to go the extra mile for them, meaning brands must work harder to establish real connections with customers in the year ahead.
“The challenge for us is to ensure we positively engage with consumers by investing in sustainable, appropriate storytelling and immersive experiences.”
The Scottish group says there is “an upward shift in spending on more meaningful experiences, driving premiumisation in the spirits industry”.
According to the report, nearly nine out of 10 (86%) consumers are likely to treat themselves to small indulgences in the next 12 months. This shows the continued upward trend of premium and luxury brands in key spirits category performance across the on- and off-trade.
Click through the following pages to find out more about the trends in William Grant & Sons’ Trending 2020 report.