Exploit honey bourbon craze: Nielsen
By James Atkinson
Retailers should be moving fast to get as much value as possible out of the rapidly growing honey bourbon segment, according to Nielsen.
At the recent Australian Liquor Stores Association (ALSA) conference, Nielsen executive director Michael Walton said the first mover in honey bourbon, Wild Turkey American Honey, is already responsible for about a quarter of total Wild Turkey sales.
Walton, who also called for more emphasis on new product development by suppliers, said that while it's early days for Jack Daniel's Tennessee Honey and Jim Beam Honey, the category is clearly worthy of retailers' attention.
"If I was thinking about what might be moving, what the potential might be in my store, I'd be probably thinking about increasing my range of honey bourbons, and trying to move fast," Walton told delegates.
Lance Song, associate director of Nielsen Liquor Services Group, Pacific, told TheShout that in North America, flavoured bourbon has nearly tripled sales in a single year, albeit off a low base.
"The rise of the sweeter palate is also happening in Australia, as consumers start drinking more honey flavoured bourbons, which used to account for less than one per cent of sales just three years ago," he said.
"Fast forward a few years and the wildly successful American Honey coupled with likes of Jim Beam – and even private label – means the segment has nearly doubled in just one year."