Rebound in spirits sales in global Travel Retail sector
According to data from IWSR Drinks Market Analysis and M1nd-set, the volume sales of spirits in the Travel Retail sector (GTR) decreased by over 70% in 2020, and a full recovery is expected in 2022. At the same time, experts predict that spirit sales in GTR in the Asia-Pacific region will return to volumes from 2019 by 2025.
Thorsen Hartmann, IWSR's chief analyst and M1nd-Set CEO Clara Susset, presented GTR market data at the TFWA conference in Cannes. Earlier, IWSR analysts predicted a full rebound as early as 2021, but this deadline was delayed by new virus variants and subsequent epidemic waves that impacted travel restrictions.
The largest spirits segment in the global Travel Retail sector, whisky, was hit harder than the other categories. In addition, there were significant declines in Scotch whisky sales in the Asia-Pacific region. At the same time, premium categories are doing better in 2021 than before the pandemic.
The data shows an increase in consumer spending in 2021 - for spirits, the average spending this year ($ 81) is similar to 2019 ($ 82).
Sales in the GTR sector also vary by region. The Asia Pacific region had the greatest impact from the 2020 pandemic. These markets are expected to return to 2019 levels by 2025.
The data indicate that the GTR sector is likely to change forever and regional travel will become more important, which will benefit border shops and ferry travel.
Source: www.thespiritsbusiness.com
