In 2023, the impact of immigrants from Russia on alcoholic drink sales in Georgia was negligible, resulting in a more subdued sales growth compared to the previous year. Despite this, moderate inflation and a stable exchange rate contributed to the prevention of significant price growth in alcoholic drinks.
Price sensitivity among consumers drove the prevalence of deeper price discounts on alcoholic drinks, with discounts of up to 50% becoming increasingly common. Retailers adopted a strategy of maintaining constant discounts on select alcoholic drink brands to stimulate sales, reflecting consumers' strong preference for discounted products.
Leading players in alcoholic drinks maintained their market share through strong brand recognition and established retail positions. Local producers, particularly in the area of wine, shifted their focus towards export markets to diversify their export destinations.
The on-trade sector benefited from an increase in tourist arrivals and Georgians returning to pre-pandemic lifestyles. Modern retail outlets expanded their presence, leading to the closure of traditional stores due to intense competition.
In 2023, on-trade sales of alcoholic drinks experienced faster growth compared to off-trade sales, driven by the influx of tourists. However, the departure of some immigrants who had boosted on-trade sales in 2022 due to the Russian invasion of Ukraine slowed down the growth in 2023.
Sales of alcoholic drinks in Georgia are anticipated to maintain stability in volume terms throughout 2024 and beyond, buoyed by the continued expansion of modern retail, which is poised to benefit the product area. The persistent demand for price discounts will drive producers and retailers to recalibrate initial pricing strategies to accommodate discounts while safeguarding profitability.
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Alcoholic Drinks
Alcoholic drinks is the aggregation of beer, wine, spirits, cider/perry and RTDs.
See All of Our DefinitionsThis report originates from Passport, our Alcoholic Drinks research and analysis database.
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