The second Roaring 20s has already started but will also bring economic polarisation, a leading analyst has said.<\/p>\n
Spiros Malandrakis, head of research alcoholic drinks, Euromonitor International, told The Spirits Business last December that he believed a second Roaring 20s would come about following the pandemic.<\/p>\n
Speaking to The Spirits Business again last month, Malandrakis noted that this would be a decade-long period of hedonism but combined with the economic turmoil also experienced during the 1920s.<\/p>\n
If anything, the Roaring 20s has already started in countries that have already reopened. But one thing to clarify is we are talking about a decade, not a year, not the next six months, Malandrakis said.<\/p>\n
When I talk about the Roaring 20s, Im mostly referring to the psychology of embracing indulgence and hedonism, rather than everyone will be buying more premium spirits.<\/p>\n
The 1920s was not only parties; it was a period of macro-economic upheaval, which well see now. It was a period of extremely polarised reactions with what people were buying, and society becoming more polarised the rich getting richer and the poor getting poorer.<\/p>\n
This undercurrent was also part of the Roaring 20s; lots of people lost jobs, the situation was quite precarious.<\/p>\n
Malandrakis, does, however, remain hopeful about the recovery of the spirits sector.<\/p>\n
My general outlook when it comes to all spirits is that we are definitely in a period of recovery, this is something we have seen in markets that managed to fully reopen in the last few months, he said. The on-trade proved to be much quicker to bounce back than people expected, in all markets where it could.<\/p>\n
We are seeing new lockdowns and the appearance of new variants. But still, overall, the situation this year is definitely a massive improvement on 2020 in my mind.<\/p>\n
There will, of course, be stops and starts, periods when it feels like two steps back and one forward, but in a way we are reaching the final stages of the nightmare.<\/p>\n
Spirits are proving theyre resilient, and in the on-trade consumers are very willing to rush back into on-trade establishments whenever theyre able to.<\/p>\n
Earlier this month, SB explored the state of the on-trade in four regions: Europe, the Americas, Asia Pacific, and Africa and the Middle East.<\/p>\n
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Second Roaring 20s not just about hedonism, analyst warns The Spirits Business - News Nation USA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The second Roaring 20s has already started but will also bring economic polarisation, a leading analyst has said. Spiros Malandrakis, head of research alcoholic drinks, Euromonitor International, told The Spirits Business last December that he believed a second Roaring 20s would come about following the pandemic Continue reading