For many it's a question of accessibility rather than pure economics, with opportunities arising for brands that can offer new and exciting ways of selling whiskey.
Often considered an elitist spirit, Scotch whisky’s popularity appears to be waning as gin’s star rises. Affordability is a massive factor, as the price of premium whisky can often reach astronomic heights. ‘Gin may be priced from £13 to £60 a bottle and it ends there, but with whisky the range can be from £18 a bottle to £18,000 a bottle,’ says Tom Aske co-founder of Black Rock whisky bar in Shoreditch.
Many have blamed the decline in Scotch whisky sales on the rise in spirits duty, with around 80% of the retail price of a bottle of whisky now made up of tax. Figures from HM Revenue and Customs show that sales of Scotch whisky in the UK have taken a hit over the past year, having fallen by a million bottles during the first half of 2017 compared to the same period last year.
Yet despite this, consumers are still investing in premium spirits. A recent survey by tonic and mixer brand Franklin & Sons shows that the average UK drinker routinely spends around £1,500 annually on alcohol, most of which is being spent on premium spirits. For many it therefore seems to be more a question of accessibility than pure economics, with opportunities arising for brands that can offer new and exciting ways of selling this spirit, which is so steeped in tradition.
