Premiumization continues to drive US alcohol sales

While total volumes of wine (-2%), beer (-2%) and cider (-4%) all declined in 2022, the premium-and-above segments of each grew: wine (+6%), beer (+4%) and cider (+11%). Total spirits volumes were up +2%, with premium+ up +13%, while RTDs showed moderate gains at less than +1% with premium+ up +38%. Furthermore, long-term premiumization trends in spirits has boosted the category with crossover in RTDs as pre-mixed cocktails and spirit-based RTDs gaining ground. Premiumization has been a long-term trend. But as inflation and economic uncertainty continue to bite, why are consumers still willing to pay more? Firstly, premium consumers still have money to spend and many still feel secure in their own personal finances, notes IWSR. High-income drinkers (those earning over $150,000), for example, were especially secure, and across all demographics, Millennials show more confidence than older drinkers. IWSR consumer data shows consumer spending and purchasing volume are up in 2022 vs ...