For more than a decade, premiumisation has been the industry’s safest growth bet.

Elevate the liquid. Refine the packaging. Increase the price. Tell a better story, consumers would follow.

But in 2026, that equation is no longer holding in the same way. Across key markets - from the US to Europe to parts of Asia - premium is not collapsing, but it is being questioned.

And that distinction matters: because what we’re witnessing isn’t the end of premium.
It’s the end of passive premium growth.

💸 The Cracks in the Model

The signs have been building for some time.

Consumers are still spending, but they’re doing so with far more intention. Frequency is down. Basket sizes are more controlled. Trade-up moments are fewer, but more deliberate.

Even high-income consumers, historically insulated from economic pressure, are reassessing their alcohol spend. The automatic “upgrade” has been replaced by a more rational, almost surgical decision-making process. The result is a fragmented behaviour pattern:

• A premium cocktail one day

• A supermarket RTD the next

• A high-end bottle for a specific occasion

• A value-led choice for casual consumption

Premium is no longer a default trajectory. It’s a series of conscious decisions.

⚖️ Value Has Been Redefined

What’s really shifting is not price sensitivity: it’s value perception.

Consumers are no longer asking:

“Is this premium?”

They’re asking:

“Is this worth it — right now?”

That “worth” is increasingly defined by:

• Occasion relevance

• Emotional payoff

• Social context

• Experience delivered

• Effort required

A €15 spritz on a sunny terrace can feel more valuable than a €20 cocktail in a generic bar. A well-positioned RTD at the right moment can outperform a heritage spirit that requires explanation.

This is the new reality: Value is contextual, not absolute.

🧠 The Premium Paradox

Interestingly, premium cues still matter, but they must now work harder. Heavy glass, complex storytelling, heritage references… these elements still signal quality. But without a clear role in the consumer’s moment, they risk becoming decorative rather than persuasive.

At the same time, categories once considered “non-premium”, like RTDs, aperitifs or even premium beer, are gaining ground by aligning more closely with modern occasions:

• Lighter drinking

• Earlier dayparts

• Social, low-pressure environments

• Flexible consumption

In many cases, they win not by being more premium, but by being more relevant.

🛍️ The Shelf Has Become a Decision Battlefield

This shift is particularly visible at the point of purchase.

Consumers are moving faster. Attention spans are shorter. Decisions are made in seconds. And within that window, brands must communicate both value and meaning instantly. This is where many premium brands struggle.

Too often, their communication assumes:

• Time to read

• Willingness to engage

• Interest in brand history

But in reality, shoppers are scanning, not studying. If the value isn’t immediately visible - through design, positioning, or occasion cues - the product risks being overlooked, regardless of its intrinsic quality.

🧠 Merch & Effect POV: Premium Needs Proof

For brands, this is a fundamental reset.

Premium can no longer rely on:

• Price alone

• Heritage alone

• Category status alone

It must be actively demonstrated at every touchpoint. That means:

• Clearer visual communication at shelf and in-bar

• Stronger alignment with occasions (not just category positioning)

• Physical cues that justify the price — through materials, structure, and presentation

• Simplified storytelling that lands in seconds, not minutes

In other words, premium must become legible.

Because today, the shelf is no longer a display. It’s a filter.

And only the brands that clearly answer the question “why this, why now?” will make it through.