The supplier says shoppers are expected to move away from extravagant gifts, with 80% viewing food and drink as good affordable gifting options.
At the same time, Pernod Ricard UK has grown its value sales by 7.2% and increased market share by 2.7%, which it says makes it the fastest share-gaining wine and spirits supplier in the UK.
It recommends convenience retailers start providing gifting alcohol options as early as October, as shoppers look to spread the cost of Christmas across more months.
Additionally, shoppers are expected to continue to host at-home celebrations, so the supplier is leaning into this by providing tips about easy-to-make cocktail serves.
With searches for cocktail inspiration up by 555% on social media site Pinterest, Pernod Ricard has put together a ‘Top 5 festive serves’ list that can be recreated at home. Neck tags will be placed across its range that direct shoppers to a YouTube channel with cocktail inspiration and how-to videos.
There are also 500 cocktail jiggers up for grabs across its Absolut range as a gift with purchase.
Chris Shead, off-trade channel director at Pernod Ricard UK, said: “We’re hugely excited for Christmas 2023 as its time for premium spirits to reclaim the occasion after beer dominated during last year’s football World Cup. In the current economic climate, we are anticipating a significant shift to the off-trade as consumers choose to host at home and manage budgets.
“This presents a huge opportunity for our customers and winning in cocktails remains the key to success. For the convenience channel, ‘premium+’ spirits offer a point of difference, as the larger supermarkets are increasingly challenged by discounters.”
Read more about seasonal trends in retail