Bacardi eyes premium brands as Brits ease up on drinks

DRINKS giant Bacardi is banking on high-end spirits to bolster sales as the industry grapples with a drop in drinking rates among younger Britons.

Amanda Almond, Bacardi’s managing director for the UK and Ireland, said the “premiumisation” of the company’s portfolio “has been absolutely critical” to its strategy, having seen consumer trends shift to quality over quantity. She added: “What we have seen in the younger generation is that they are drinking less but better, and sometimes that could mean teetotal but often it means just less and better, and therefore their choice of alcohol has changed.

“So something like the St Germain spritz or a beautiful martini is actually seen and believed to be a better way to consume alcohol in a longer choice of drink, rather than high density drinking behaviours which you used to see.”

She said Bacardi is now focusing on higher quality spirits, with a portfolio that features the likes of Grey Goose vodka and Bombay Sapphire gin.

Premiumisation may be key to avoiding a drop-off in sales for the wider sector, in light of recent studies that suggest the alcohol industry has been propped up by excessive drinking in the UK.

A study by the Institute of Alcohol Studies and the University of Sheffield’s alcohol research group found that booze sales would plunge by £13billion if drinkers in England cut back to abide by low-risk government guidelines.