Off-Premise Spirits Update: Volumes Decline, But Key Categories Maintain MomentumJune 11, 2021
Spirits volumes in IRI channels decreased 11% during the 12-week period ending May 16, while IRI dollars fell 10% against the corresponding timeframe last year, which was marked by a surge in off-premise buying resulting from the closure of the on-premise. Total wine volumes declined even more, falling 18% the past 12 weeks.
It’s important to note that IRI sales for the past three months remained much higher than they were pre-pandemic. Retail spirits dollar values were still 29% higher relative to the same 12 weeks in 2019, while volumes were up 23% compared to two years ago. And in spite of the recent slowdown, two segments in particular continue to thrive—Cognac and spirits-based seltzers.
High Noon Sun Sips continues to drive growth in the seltzer category the past 12 weeks, while Cognac was led by Rémy Martin VSOP (+30%) and Hennessy VSOP (+17%). After crossing the 5-million-case mark last year, Hennessy became one of the ten largest-selling spirits overall in the U.S. market for the first time ever, according to Impact Databank. Meanwhile, triple-digit growth rates were achieved by two super-premium Tequila brands—Teremana (+410%), in only its second full year on the market, and by Don Julio 1942 (+183%).—Juan BanaagSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.