Current 12-month rolling volume trends (October 2022-September 2023) are down -3.5% for spirits and -7.4% for wine. Year-to-date (January-September 2023) data shows spirits down -5.1% and wine down -8.4%. When the fast-growing premixed cocktails segment is removed from the picture, spirits is noticeably worse, with 12-month trends of -5.2% and year-to-date dropping to -6.7%. Premixed cocktails, up +8.6%, and tequila/agave spirits, up +2.8%, remain growth areas for spirits in the latest 12-month ending data. Interestingly, the growth profile for tequila/agave spirits has reversed in the last year, with products more than $50 down -2.7% and those under $10 up +5.9%. Price inflation continues to take its toll on consumers’ spending power, impacting premiumization across all spirits categories. Currently, spirits over $25 are outperforming those under $25 compared to last year at this time. A “bright spot” in growth for spirits remains in the on-premise as spirits continue to be resilient with a growth rate of +4.4% compared to wine, which is down -2.2%. Most segments of wine continue to struggle, but Prosecco was up +3.9% in the 12-month ending data. Growth on Prosecco is “very balanced,” with on-premise up +3% and off-premise up +4.1%.