The festive season has given a new impetus to the alcohol-based beverage industry. At present, there is a growth of almost two points in sales, due to which companies are expecting an increase of up to 20 percent in the December quarter. According to the industry, there has been a significant improvement in sales of all categories in the ongoing one and a half month festive season.
During this period, there has been a significant increase in the demand for white spirits like whiskey, scotch, rum, vodka, gin and tequila. The special thing is that consumption has increased not only in metro cities but also in small second and third tier cities. This shows that the consumption of premium and luxury brands is continuously increasing across the country.
Amar Sinha, Chief Operating Officer, Radico Khaitan, said, there is tremendous demand in our premium and luxury portfolio during the festive months this year. This shows that consumer preferences are increasingly moving towards the premium category. Festivals have always been an important time for consumption in India and this year's performance has exceeded our expectations. Sinha said that their brands Rampur Indian Single Malt and Jaisalmer Indian Craft Gin have registered strong growth in many emerging markets. He further said, with the momentum created in this festive season, we are confident of maintaining the positive momentum in the December quarter also.
Ananth S., Director General, Confederation of Indian Alcoholic Beverage Companies (CIABC). Iyer said that this time the industry expects 10 to 20 percent increase in sales between October and December. Good monsoon and positive economic environment have boosted consumption, he said. Spending capacity has increased in rural areas too, which is having a direct impact on sales.
Industry experts believe that the consumption of premium and flavor segments may increase further in the coming months. Along with festive shopping, increase in social events and gifting culture is also being considered a major reason for this surge. Overall, this year's festive season is proving to be extremely beneficial for the liquor industry. Companies hope that this momentum will continue till the end of the December quarter and the beginning of the year 2025 will create a strong base for the industry.
