Wine Outperforms Spirits in Control States

Dear Client: After spiking 4.3% in July, spirits volumes have slowed back to 1.4% growth in control states for the month of September, per NABCA data. On the whole, spirit volumes in control states have moderated on a rolling 12-month basis since the beginning of 2013. Meanwhile, shelf sales were up 3.7% and although price/mix had been holding solid around 3% for the past 10 months, it fell slightly to 2.3% growth. As such, UBS estimates spirits volumes will be