US Insights with Southern Glazer’s Wine & Spirits
SGWS Fine Wine Director, Mike Aitken and Trade Development Director Artisanal, Eric Larkee from Southern Glazer’s Wine & Spirits (SGWS) hosted an exclusive one-hour webinar sharing insights into the US wine industry and outline potential opportunities for Victorian wines using SGWS’s advanced technology.
Mike and Eric were attendees on the recent Inbound Trade Visit and have offered to host the session as a sign of appreciation to all the wineries involved.
SGWS’s state-of-the-art technology provides its trading partners with superior visibility into sales activity, deal information and pricing, providing unique and industry-leading insights..
Key Insights:
- Consumer Confidence, Present Situation and Expectation indices all increased in June from May . Consumer sentiment turned positive in June (highest level since Sep’21)
- Inflation cooled to 3% in June and reached the lowest it has been over the last 2 year
- Numerator survey responses indicate Restaurants are the #1 planned cutback across all consumer segments, with 42% planning to cut on Alcoholic beverages
- Occupancy rates for hotels are down 1.9 points vs. 2022 and 3.8 pts below 2019 levels
- The Food Index from May to June increased slightly as Food at Home remains flat and Food away from Home increased 0.4% but is slowing vs May. Alcoholic beverages increased +4% vs June LY
- Federal student loan borrowers’ repayment could commence in October, discretionary spending is expected to decrease with the largest proportion of Student debt is held by the top 20% of income earners
- Nielsen reports RTD category reached $10.4 billion in off premise sales for the L52 weeks, mainly driven by Spirits based RTDs
- Recruiting and retaining the Gen X generation holds a large opportunity for suppliers and SGWS
- Wine 5.0L share increased by 5.7pts vs LY in the week leading up to 4th of July
Learn more:
Download the presentation here
