SOURCE: Luxury Institute, LLC
NEW YORK, NY--(Marketwired - Jan 9, 2014) - After ringing in another new year, the premium spirits industry is looking forward to a robust 2014. To determine which brands carry the most prestige, the New York-based Luxury Institute conducted its 2014 Luxury Brands Status Index (LBSI) survey to gather opinions of eight high-end champagne brands and 29 liquor brands from four categories. Respondents age 21 and older have an average income of $282,000 and net worth of $3 million. Brands rated include:
Champagne: Cristal, Dom Pérignon, Domaine Chandon, G.H. Mumm, Moët & Chandon, Perrier-Jouët, Champagne Taittinger, Veuve Clicquot
Gin: Bombay Sapphire, No. 209, Hendrick's, Plymouth, Tanqueray
Scotch: Balvenie, Chivas Regal, Dewar's, Glenfiddich, Glenlivet, Glenmorangie, Johnnie Walker Blue, Macallan
Tequila: 1800 Reposado, Cabo Wabo, Corazón, Don Julio, Herradura, Jose Cuervo Reserva, Patrón, Sauza Tres Generaciones
Vodka: Absolut, Belvedere, Chopin, Cîroc, Grey Goose, Ketel One, SKYY, Stolichnaya Elit
The LBSI is calculated by averaging each brand's scores on five separate components of status that relate to premium spirits: quality, taste, packaging, worthiness of a premium price, and appropriateness as a gift. Respondents also reveal total spending on high-end spirits, as well as personal history with particular brands and the brand that they will most likely buy next.
"Brand status is the key to achieving sustainable growth, especially in saturated categories," says Luxury Institute CEO Milton Pedraza. "Listening directly to the voice of the wealthy consumer will help champagne and liquor brands stand out on the shelves."
Patron outranked its competitors in tequila and Balvenie took the lead in premium scotch. To find out more about the rankings within each category, contact us with any questions or for additional information.