Press Release - Banking on binge drinking8/05/2008
While parents, the government and sports management groups are becoming increasingly vocal about the impact of alcoholism and teenage binge drinking, Coles and Woolworths are cashing in on Australia’s love affair with liquor by undertaking a spending spree to shore up their share of the alcohol sales market, according to the latest research from business information analysts IBISWorld.
And between them, the Woolworths Ltd and Coles Group – Australia's two retail giants – already control more than 45% of Australia's $6,938 million retail liquor sector.
“Whilst our per capita consumption of alcohol is gradually decreasing, take-home liquor sales are rising as a percentage of the overall market,” said IBISWorld General Manager (Australia), Mr Robert Bryant. “Continuing industry deregulation, price wars, a perception of convenience and consumer concerns about drink driving are fuelling this change, and it's a trend we forecast will continue in years to come.”
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