Gin’s growth in retail can help the on-trade too!
World Gin Day has just taken place on 12th June. So, this month Ryebeck is focusing again on gin with articles on two highly successful British brands. In May, we also reported on the latest gin trends and how the category is still showing positive signs of growth. In fact, the taste for gin is on the rise around the world. The IWSR predicts a gin growth rate of 4.5% per year over the next four years. Higher quality brands are likely to perform even better, with those priced premium-and-above projected to grow by 11.4%.
Good news for the UK
The Wine and Spirit Trade Association (WSTA) reports further good news for the UK’s gin industry. Sales of gin in our shops, supermarkets and online equated to a staggering 80 million bottles, worth £1.3 billion, up 30% in a year! Flavoured gin broke the £500 million barrier for the first time, up 37%, with around 30 million bottles sold. This equates to around 40% of the total gin market by both volume and value. The WSTA predicts that market share is likely to increase further.
Off-trade to drive on-trade gin sales
Enforced venue closures until 12th April across England meant that on-trade gin sales were down 60%. So, shops and supermarkets were the only places people could go to if they wanted to explore their love of gin.
The WSTA is confident that gin’s continuing popularity, as shown by record-breaking retail sales, could help boost our on-trade recovery.
Miles Beale, Chief Executive of the WSTA said: “Our latest gin numbers underline that reports of gin’s demise as the ‘go-to’ spirit are wrong. Hospitality’s closure hasn’t dampened our enthusiasm to enjoy the vast array of gins now on the market. Sales of gin have never been this high in our shops and supermarkets before. This is encouraging news for our reawakening hospitality industry too. Some of these sales are certain to shift over to pubs, bars and restaurants.”
Tax relief can help
Beale continues with a message to government. “We firmly believe that gin has a vital role to play in the recovery of our hospitality sector throughout 2021 and beyond. We continue to ask the Chancellor not to increase taxes on gin and other spirits enjoyed at home and in pubs, bars and restaurants.”
World Gin Day
… and what of World Gin Day itself? How successful is this initiative and can it help distilleries looking to grow their business? Chris Toller of Henstone Distillery, one of Ryebeck’s award-winning customers, has seen at first-hand how World Gin Day can help. “We had a 20% off offer on the 70cl bottles of our gins“, he says. “It was so successful, we’ve sold out of London Dry for the first time ever. I’m now bottling to catch up!“