The release of Australia’s latest GDP numbers has revealed alcohol consumption is on the rise.
In 1986, Australians spent $2billion a year on alcohol. In 2016, that figure more than doubled to $4.037billion, despite the population increasing by only 50% during that time.
On the other hand, tobacco has tumbled, with Australians consuming just a third of the cigarettes & tobacco we did 30 years ago.
B&T notes: “The increase in alcohol consumption contradicts a 2016 report into the nation’s health that found drinking rates were actually in decline. The report by the Australian Institute of Health and Welfare found Australians were abandoning fags and booze, however, we were all getting fatter and more anxious. That report found two-thirds of Aussies were overweight and half had a chronic disease.”
So, what gives?
Business Insider notes: “The ABS has said we’re at 50-year lows in terms of overall consumption, so a push to quality over quantity may explain that spend as wine (and champagne addiction) and boutique beers replaced VB and XXXX.”
According to Forbes, 2016’s most prominent retail trend was “Premiumisation”.
“The term premiumisation was coined sometime in the nineties to open a new door in the alcohol and beverage market, redefine top shelf offering, and provide a taste of the higher life for consumers.
“Nowadays, the trend has become a real game changer. It has introduced new production processes for wine and spirit making. It has even changed how we consume alcohol. According to Roy Morgan, we are opting for a single glass or two of a good drop, over a procession of the subpar.”
