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Consumers treat themselves with small indulgences or premium products

  • Sales of chocolate, tobacco and liquor holding in most regions

    • -

      Cadbury sales up 6% in Q3 08

    • -

      BAT sales up 9% in Q3 08 (at constant currency rates)

    • -

      Diageo reported organic net sales growth of 6% in the 3 months to Sep 08

  • Cosmetics are also seen as an affordable luxury

    • -

      German cosmetic sales increased 6.9% YoY in 2008

  • There will still be room for premium products, but they will need to pass the “worth it” test

But Alcohol and Tobacco may begin to decline soon, driven by lower on- trade and Duty Free sales

Source: Company financial results; Agence France Presse; New Zealand Herald; IKW 30 GXC ConsumerOfTheFuture_BainStudyJanuary2009v2 This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent.

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