Let’s be blunt: value is under the microscope. Shoppers are counting pennies, retailers are watching margins, and “premiumisation” has lost some of its gloss as a buzzword. But here’s the thing: consumers haven’t abandoned premium. They’ve just become more selective about where and when they’ll pay for it.
Budgets are tighter and people are going out less but that hasn’t killed premium, it’s moved it home. The rise of the Big Night In means shoppers remain willing to trade up when there’s a reward at the end of it. A £35 bottle of spiced rum or gin is easier to justify when it makes staying in feel like a real treat. The same customer who pays for premium cocktails in bars or picks up a gift-worthy bottle in the supermarket is the one walking into your store looking for something special.
In supermarkets, overall volumes may be soft, but premium and craft spirits continue to punch above their weight. Seasonal peaks and gifting occasions are when shoppers loosen the purse strings. A bottle of craft gin or a single malt whisky feels like a justifiable spend. It says “special,” whether that’s for Christmas, birthdays, or celebrations at home. That’s why retailers keep expanding premium ranges even as they manage tighter space and slower volumes.
A laddered range works best: PMP value lines to reassure price-sensitive shoppers, alongside one or two premium SKUs foe those looking for something better. Stocking simple cocktail staples – mixers, soda, even fresh garnish, can also elevate the Big Night In and drive basket spend. Premium does not replace value but complements it. Shoppers want both, depending on mood and moment.
And let’s not forget retailer benefit. A £35 spiced rum or gin delivers more margin than a £15 PMP vodka, without taking up any extra shelf space. In a channel where every square foot counts, premium is not just about shopper choice, it is about making the fixture work harder.
For suppliers and retailers alike, the job is to stop treating premiumisation as a buzzword and start treating it as a tool. Premium needs context: an occasion, an experience, a reason. Get that right and shoppers will still pay for it, even in a cost-of-living squeeze. So, whether you are running a convenience store, symbol group outlet, or forecourt, the opportunity is the same: balance value that reassures with premium that excites. Do that well, and you will win the everyday shopper on a budget and capture the ones looking to trade up for the weekend.
Nick Gillett