May 12th, 2023, Clifton Mark
When it comes to splurging on luxury, what products are global consumers looking forward to buying in the coming year? And how many of them will go for luxury alcohol?
A recent YouGov survey shows that the category of luxury that consumers are most likely to buy by far are clothes and shoes (31%), followed by meat, fruit, or vegetables (30%). Other categories, like cars and watches, are less likely to be purchased in the next year with only 11% and 12% of global consumers saying they’ll buy them respectively.
When it comes to liquors and alcoholic drinks, about one in six consumers (16%) globally plan on choosing the luxury option. There is also a significant gender gap here, with 59% of luxury liquor buyers being male and 41% female.
The taste for upscale alcoholic drinks also varies greatly across markets. North America is split. Of all the markets polled, Mexico and Canada are the most likely to buy luxury liquors in the next twelve months at 24% and 23%, respectively. The US, by contrast, is below the global average with only 14% of Americans saying they’ll do the same.
European markets also show great variation. Poland (22%), Sweden (22%) and Great Britain (20%) are some of the most likely markets to indulge in luxury liquors. Denmark is near the global average at 17%. Germany, despite its strong tradition in brewing is near the bottom of the list, with only 9% of Germans foreseeing any alcoholic luxury purchases in the coming year. France and Italy, both markets with renowned wine industries are also below average at 13%.
Of the APAC markets, China (17%) has the highest proportion of consumers interested in buying luxury liquors, followed by India (16%) and Hong Kong (14%). It should be noted that panels in these markets are drawn from urban populations which may affect the overall results.
Singapore (7%) and Indonesia (6%) have the lowest proportion of consumers considering luxury liquor purchases of the all markets surveyed.
In the UAE, 12% of consumers say they’ll buy luxury alcohol in the coming year.
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Methodology: YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 18 markets with sample sizes varying between 512 and 2034 for each market. All surveys were conducted online in February 2023. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.