Tequila Keeps On Coming
Last year we saw a slight slowdown in Tequila’s red-hot run of more than a decade, but believe me, the category is just catching its breath. On a percentage rate basis, Tequila’s growth was “only” 5% to 31 million cases. The performance was better than the overall spirits market, and consider that Tequila’s volume has roughly doubled since 2015. In years past, Tequila’s sweet spot has been at the luxury tier ($40 a 750-ml. and above), but now the main action is at the super-premium tier ($25-$40), where volumes were up 13% last year. This is a good thing, as we’re seeing Tequila broaden its presence to include a wider array of options across the entire premium space. Also, new items like flavored and cask-finished Tequilas are adding even more…