WSWA Flags Depletions Decline In First Quarter
June 1, 2023SipSource, the Wine & Spirits Wholesalers of America’s database of depletions data, has released a new report showing a decline in both wine and spirits depletions for Q1 2023, with spirits down -5.1% and wine down -7.4% compared to year-end 2022. For the 12-month period from April 2022 to March 2023, spirits declined by 0.3% and wine dropped by 6.7%.
SipSource attributes these declines to a combination of “soft comparables in 2022” and inflationary pressure on consumers. Notably, SipSource’s data shows premiumization slowing down overall, with only Tequila and agave spirits, American whiskies, and gins priced above $25 a bottle showing growth in Q1 2023.—Shane English
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