The Roy Morgan Research Institute has conducted a national survey to identify the brands that attract the most premium consumers, with Vintage Cellars coming out on top.
Australia’s top 10 premium brands are:
- Vintage Cellars (Coles Group)
- American Express
- Qantas (international)
- Harris Farms Markets
- David Jones
Vintage Cellars is the standout premium brand both nationally and in the Coles Group retail stable.
Following the success of its First Choice Liquor Market transformation program, Coles has commenced a renewals program for Vintage Cellars chain.
Vintage Cellars was also awarded Brand of the Year at the Real Media Awards in September.
Economy slumps to weakest level in 1990s
Roy Morgan notes that overall, the economic news is gloomy for Australian retailers.
“The economy is slowing with consumer spending in decline,” it said. “ABS data released last week showed that consumer spending was outstripped by household saving for the first time in five years, while the retail sector has slumped to its weakest level since the 1990s.”
That there are three retail brands in the top 10 appears surprising given the ABS results. However, according to Roy Morgan CEO Michele Levine there is a simple explanation.
“In the media we hear one day that consumers are radically cutting back, and the next they are buying more local produce, personal services or cool technology,” she said. “So, what’s going on?
“The truth is we’re doing both – we’re in a two-speed economy.
“The word ‘premiumisation’ is on the lips of business leaders eyeing off the economic fast lane while, at the same time, the slow lane is becoming even more commoditised. In today’s slowing economy the premium market is thriving.
“This appears confusing until you put a premium lens on our deep data to reveal that while there are 10 million Australian consumers dawdling in the economy’s slow lane, there are 4.7 million premium consumers racing in the fast lane. These premium consumers are big spenders in any economic cycle – right now, 91% of them are in the top third of elective spenders in the economy.
“The difference between winners and losers has never been more stark.”
Australia’s top 10 premium brands are those that attract the highest proportion of premium consumers as a part of their customer base. Table-topping Vintage Cellars (54%), Audi (52%) and American Express (51%) all have customer bases of which over half are premium consumers.