Vintage Cellars has been named Australia’s top premium retailer once again by Roy Morgan. The Roy Morgan Research Institute conducts a national survey each year of the country’s high-spending premium consumers to identify their favourite brands.
Last year, Vintage Cellars was named both top liquor retailer and Australia’s second most popular premium brand.
Premiumisation is predicted to be a key megatrend through to 2030 and is impacting nearly every business sector from telco, FMCG and financial services to utilities, travel and automotive to retail – even supermarkets.
Commoditisation and reliance on lowest price positioning presents a real challenge for businesses with the proliferation of premiumisation. Recognising the importance of premiumisation in combatting commoditisation, Roy Morgan used its premium consumer data to identify and rank the top premium brands in Australia with American Express the overall winner.
According to Roy Morgan CEO, Michele Levine, the premiumisation of Australian business is vital to the economy.
“I wanted to see who was doing it well for the Australians with a premium mindset, we know them as the New Economic Order or NEOs.
“So, we analysed the preferences of the top 50% of NEOs (2.4 million Super NEOs) and the standout premium brand winner was American Express.
“American Express has been the top premium financial services brand for three years and in 2022 is the overall winner,” she said.
Vintage Cellars came out on top as the winning liquor retailer.
According to social scientist and premiumisation specialist Dr Ross Honeywill premium NEOs spend three times more on products and experiences that are authentic, of exceptional and lasting quality, emotionally engaging, ethical and sustainable, innovative, and that offer more personalised service.
“For NEOs price is just the cost of falling in love,” said Dr Honeywill.
View the special Roy Morgan webinar on Australia’s premium brands here: https://www.youtube.com/watch?v=phUbB10zLl8