Demand for alcohol more resilient than several consumer goods segments, says Diageo India MD
United Spirits managing director Hina Nagarajan said demand for liquor in India improved in the December quarter and emerged more resilient than several consumer goods segments.
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«While food inflation remains sticky, consumer social occasions have risen, and there is a sequential improvement in overall sentiment of celebration in the festive October — December quarter. This has helped improve demand for alcohol, which is emerging to be little more resilient than other consumer packaged goods categories,» Nagarajan told investors on Friday." It is also encouraging to see continuity of the long term premiumization trends, even though the top end might take a few more quarters to regain its historical momentum. There are no major signs of downtrading observed in the portfolio. And with this we hope for some more consumption revival going forward."
Demand for spirits had fallen 1% during the quarter ended September, the first decline since the pandemic, with companies attributing flooding in a few states and increase in taxes muting demand amid the broader economic stress that has seen consumption across categories taking a hit.
The maker of Johnnie Walker and Smirnoff posted a 15% sales growth while pricier prestige and above categories saw a 16% growth during the
