The spirits distributor and branded whisky supplier released the findings of its largest ever category research project this week, whereby it said it has identified a £942m sales growth opportunity, which it said is achievable by 2020. This is an increase of 10% to the overall category, which is currently worth £9.3bn.
Maxxium has used the findings from the report to develop its category vision, called A Winning Mixx, with which aims to “unlock the full potential of spirits”.
It has also broken down this figure into categories, whereby it has identified a £282m opportunity in grocery multiples, £75m in symbols and independent retail and a £585m opportunity in the on-trade.
The research which underpins A Winning Mixx has also helped Maxxium to identify six growth drivers, which are designed to generate the extra value. These are: Discovery; which aims to recruit non-spirits drinkers to the category, Adventure; which will encourage confident drinkers to trade up and all spirits drinkers to broaden their repertoire, Sharing; where socialising is the motivation, Perfect experience; ensuring every serve in-home (or at a bar) is perfect and Positive spirits; educating and building the understanding of spirits.
Maxxium invested more than £1m in consumer and shopper research and analysis, looking at purchasing behaviour for spirits.
Research also shows that currently only 61% of UK households purchase spirits, of which 35% buy only once a year.
Maxxium UK’s managing director, Mark Riley, said: “As a major UK spirits distributor, we have the responsibility to invest in and evolve this exciting category. A Winning Mixx presents a sustainable sales growth opportunity across the spirits industry, born out of a compilation of unrivalled insight, collaboration and passion. Interest in premium spirits is at an all-time high and we look forward to turning our category vision into reality as we embark on a journey with customers to unlock future spirits growth.”