Premiumisation, the future of brand loyalty and flavour trends - Master of Malt
The latest trends predictions from online retailer Master of Malt suggest consumers are still willing to discover new spirits, while the move towards “less but better” remains apparent.
In a quarterly trends bulletin, the retailer said today that the mindset created during the initial lockdowns has remained.
“Simply put, people are wanting to buy less, but better,” the retailer said. “While sales between the £30-50 range stayed relatively stable over the course of 2021, Master of Malt noticed that sales of products between £0-30 halved, at the same time that sales of products priced over £100 soared, more than doubling throughout last year.”
Master of Malt said this premiumisation means that brand loyalty “is on its way out, in turn leading to brands having to hone their craft and offer fewer products, but of a much higher quality”.
Elsewhere, the retailer highlighted flavoured whiskies with products such as Jameson Orange, Haig Club Mediterranean Orange, and Bourbon Bourbon leading the charge.
“Though possibly divisive, there’s no doubt that there’s a demand for flavoured whisky,” the retailer said. “New distilleries are opening, and new whiskies are being released left, right, and centre, and these new flavours add a point of difference, and tap into people’s newfound thirst for exploration.”
Flavour trends in pre-mixed cocktails are set to turn nostalgic, Master of Malt said, with the migration of nostalgic flavours going from spirits to pre-bottled cocktails. The company highlighted the Jaffa Cake Negroni, which launched in late January, following the success of Jaffa Cake Gin.