Guinness keeps proving its pulling power
The Irish beer is a pot of gold for drinks giant Diageo
Diageo — the company behind brands like Johnnie Walker, Smirnoff, and Casamigos — just reported some dispiriting results, with organic net sales declining 0.6% for the full year to June 30 on the back of its worst quarter since the start of the pandemic.
Though the company pointed to economic stress as a reason for consumers spending less on booze, Diageo’s struggles also fit into the broader picture of people cutting down on alcohol more generally, while the no-lo-alcohol market continues to thrive.
Even within Diageo, non-alcoholic beverages saw an upturn. Guinness 0.0, a 0% version of the popular Irish stout, looked particularly strong, with net sales and volumes more than doubling in fiscal 2023. In fact, Guinness on the whole remained a rare bright spot in the company’s gloomy sales figures.
Goodness, Guinness
Reported net sales of Guinness rose 6% last year, driving much of the observed 18% growth in overall beer sales for Diageo. While growth has slowed from the 30% figure seen in the wake of the pandemic — when purists raced back out to enjoy a 'perfectly poured' draft Guinness again — the black stuff still holds its firm position in the Diageo drinks cabinet, with sales up 27% in Europe and a growing legion of female fans.
The 265-year-old drink has been having a moment since bars and pubs reopened: there's been a rise in online “Guinnfluencers”; the brand's logo has graced the runways of Milan Fashion Week; and a host of stars from Kim Kardashian and Olivia Rodrigo to Kate Middleton have flouted their love for the Irish stout.
Drink me, I’m Irish: There is still one green-letter occasion where Guinness is consistently picked up… Google Trends shows that March is the most popular month for “guinness” search queries.
