Pricing a dram
Commercial Spirits Intelligence No.85
This newsletter is a collaboration between Duncan McFadzean of Noble & Co, and Martin Purvis. In this newsletter we leverage our experience, contacts and market intel to provide meaningful analysis that speaks to relevant issues for you.
What is the long-term rate of inflation in whisky?
This week we look at price trends of whisky in the UK, bringing the data up to date to January 2025. We look at the data going back to the beginning of the time series in the 1980s and look at headline UK price inflation for whisky but also real price inflation. Combining this with our analysis recently of long term volume trends in single malts, we can build up a picture for what the long term revenue trend for whisky has been. In a time when the narrative is that the industry has simply returned to the trend line from pre-Covid, we ask whether this is true and if so, what does that mean for future long term revenue growth?