Diageo’s CEO on pricing challenge: ‘There’s a lot of promotion out there’
In response to global uncertainty and heightened promotions among competitors, Diageo has continued its push into smaller-sized premium products to appeal to cash-strapped consumers.
Diageo is continuing its push into smaller-sized premium products as consumers remain “strapped” for cash and rival brands ramp up promotions.
Speaking on a call with investors today (19 May) about its third quarter results, CEO Debra Crew said the drinks giant, which owns brands including Guinness, Johnnie Walker and Don Julio, is adapting to growing uncertainty in the US, Asia-Pacific and European markets by rolling out more compact versions of its premium spirits.
The strategy aims to hold onto customers who are still seeking premium drinks but are feeling the pinch at home.
