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Market Data 11/16/2017

Schweppes has announced a new range of premium tonic water in the face of competition from Fever-Tree, says GlobalData

Joe Hutson, a consumer analyst from GlobalData reports that “The evolving market has enabled Schweppes’ rival Fever-Tree to experience vast growth in 2017”. UK revenues doubled to almost £33.6m, while Schweppes’ retail sales fell 6 %. Fever-Tree saw 76 % gross profit growth in the UK during this period, with sales…

Schweppes has announced a new range of premium tonic water in the face of competition from Fever-Tree, says GlobalData
(Photo: GlobalData)

Joe Hutson, a consumer analyst from GlobalData reports that “The evolving market has enabled Schweppes’ rival Fever-Tree to experience vast growth in 2017”. UK revenues doubled to almost £33.6m, while Schweppes’ retail sales fell 6 %. Fever-Tree saw 76 % gross profit growth in the UK during this period, with sales split evenly between on and off-trade. With Fever-Tree already established as a premium product range, the success of Schweppes will determine the brand’s fortunes in the coming years.

Schweppes (Coca-Cola) has announced a new range of premium tonic water, Schweppes 1783, to combat declining sales in the face of competition from Fever-Tree, according to GlobalData, a leading data and analytics company.

Hutson commented “The new range will be of the same design that was formed by inventor Jacob Schweppe in 1783. It will be hoped that the golden sash and black livery will allow the product to stand out in both the on and off-trade, where Fever-Tree’s presence has been mounting.”

The launch will be accompanied by the largest marketing effort in the brand’s history at a price tag of £6.6m. Engagement at taste experiences, festivals and nationwide cocktail events will be seen alongside the sponsoring of The Jonathan Ross Show.

Traditional flavours Crisp Tonic Water, Light Tonic Water and Golden Ginger Ale will be available alongside distinctive tonic water offers Salty Lemon, Quenching Cucumber and Aromatic Floral. The new range has been designed with guidance from mixologists and drinks experts, appealing to a new age of mixer drinkers that are keen to discover new flavours.

This strategy will be executed with the hope of carving Schweppes out a segment of the rapidly growing premium tonic water segment. This market has seen been increasing in value in recent years. This is thanks to the increasing premium nature of spirits driving a concurrent interest in high-end mixers.

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