CEO links pandemic lockdowns to increase in premium wine and spirits sales
“The desire to get out and enjoy oneself is probably higher than it’s ever been”
NASSAU, BAHAMAS — The rise in sales and consumption of alcoholic beverages, particularly in the high-end segment, in the Caribbean is a positive indicator of the region’s tourism outlook, according to the top executive of a leading regional domestic distributor of wines and spirits.
Andy Consuegra, chief executive officer of WEBB Banks, the premium wine and spirits distributor behind popular brands like Tito’s Handmade Vodka, noted that sales in this nation were up 13 percent over 2019’s performance.
In an interview with Eyewitness News, Consuegra noted that as more travelers continue to make their way to the region, the sale and consumption of alcoholic beverages continue to soar.
He said The Bahamas stands to cash in given its proximity to the United States as more and more travelers are ditching their European vacations for destinations closer to home.
“We are optimistic for 2022. We had a very good 2021. We think the demand for tourism for the Caribbean, among Americans in particular, remains very high,” said Consuegra.
“The Bahamas is an amazing destination which is close to the US. With all the resorts reopening and the airlift increase, we think this is going to be a very good year.
“Our summer sales in multiple markets were the highest they have ever been.
“This summer may not be as good, but we feel we will have a better high season than last.”
WEBB Banks’ premium products include Skrewball, Ghost Tequila, Stags’ Leap, Caymus, Penfolds and Rodney Strong Vineyards.
The company also has a subsidiary that distributes top-quality cannabidiol (CBD) and wellness products in the Caribbean and Central America, with a portfolio that includes well-known brands and category leaders including cbdMD, Marley and Secret Nature.
This a trend that started before the pandemic but accelerated during the pandemic where people were maybe consuming less in general but consuming more premium.
– WEBB Banks CEO Andy Consuegra
“In The Bahamas, our sales were up about 13 percent over 2019,” said Consuegra.
“What we are seeing is all the brands doing well. Tito’s is our biggest brand and does very well with American and Bahamian consumers now as well.
“There is more of a move towards the premium end of the market on the wine side, but the spirits side as well.
“This a trend that started before the pandemic but accelerated during the pandemic where people were maybe consuming less in general but consuming more premium.
“During the early days, they couldn’t go out, they weren’t going to bars and restaurants and they were treating themselves to more premium wines and spirits.”
He added: “In the US, the wines and spirits market had a good year in 2020 while this region was pretty much closed.
“In 2021, the tourists came back in the region and some bars and restaurants began to reopen. The desire to get out and enjoy oneself is probably higher than it’s ever been.
“Where we have seen an increase is in wedding trips and destination weddings. People had to postpone weddings because of the pandemic and that segment returned in 2021 and seems to be high in 2022 as well.”
