What Constitutes a Luxury Spirit
The term "spirit" can refer to many things. The beings you negotiate with when you set foot in a haunted mansion. The stuff you're not meant to lose when you are going through a difficult time. And, most importantly, the bottles of power-packed alcohol.
But what are alcoholic spirits? Spirits are the best, the biggest, and the strongest older brother of the alcohol family. Like all other alcoholic beverages, they're made by fermenting a sugary brew into CO2 and ethanol. However, unlike other alcoholic beverages, spirits are distilled to make them stronger.
There are many spirits available to try, from whiskeys to vodka, but knowing which spirit to try can be challenging. The good news is that it's easier than you'd think to find a good spirit. You simply need to search for luxury brands. But what constitutes luxury? If you want to find out, keep reading below:
What is a Luxury Spirit?
Many people are unaware of what turns an average spirit into a luxury spirit. But it's pretty simple. Luxury spirits are made using the finest ingredients and craftsmanship. As well as this, the brand for a luxury spirit also needs to be authentic and provide the consumer with information about the aging process, including where, how, and for how long.
The Different Types of Luxury Spirits Available
When it comes to luxury spirits, there are seven main types for consumers to choose from. These include:
How to Spot a Luxury Spirit
There are thousands of different spirits available for consumers to try, but how do you spot a luxury one? The good news is that it's easier than you'd think to spot a luxury spirit. You simply need to search for spirits that cost over $50 for a 750ml bottle. Currently, only 3-4% of all spirits produced and sold in the US fall within this price bracket, yet luxury spirits account for over $10 billion in sales each year.
The Demand for Luxury Spirits
Over the past few years, we've seen an enormous increase in demand for luxury items, including spirits. Between 2015 and 2020, the demand for luxury spirits increased by a whopping 125%. And it's not just with consumers either. Evidence suggests that thanks to the increased demand, many bars and restaurants in the US have started to purchase luxury spirits to sell to their customers. Big chains buy things like luxury bulk whiskey and smaller establishments, single bottles of cognac for their customers to enjoy.
Luxury spirits have been around for many years now. However, in the past, very few people consumed them. The good news for luxury spirit businesses is that this is no longer the case. In fact, over the past few years, we've seen a considerable increase in the demand for luxury spirits such as vodka and gin. And, despite the cost-of-living crisis in countries around the world, demand for these items will continue to increase over the next few years as consumers search for products that are made with the finest ingredients and craftsmanship.