‘1nSpirit’ to make debut at TRMarketplace

By Charlotte Turner |

New-1nSpirit-logoThe IWSR and m1nd-set have announced a joint travel retail marketing intelligence platform, ‘1nSpirit The Wine & Spirits Travel Retail Data Hub’ in response to a huge and ever increasing demand for information on how Covid-19 continues to impact the business.

 

IWSR and m1nd-set will share an exclusive preview of the 1nSpirit platform, alongside early insights, at the TRMarketplace digital forum for the travel retail industry in September 2020*.

 

As announced, TRMarketplace is available for all categories and will allow each supplier/brand access to a dedicated ‘brand hub’, where they can showcase their respective product portfolios. With a fixed price to exhibit of GBP£4,495 (ex VAT) – for every company regardless of size – TRBusiness and Bluedog Productions believe that this opportunity is accessible to all.

All interested parties, click here to pre-register. 

 

IWSR Drinks Market Analysis, the leading authority on data and intelligence on the global beverage alcohol market, and m1nd-set, the worldwide leading agency in consumer research for the travel industry, aim to provide greater clarity on how the industry can navigate such an unprecedented global scenario.

 

PREDICTIVE, SCENARIO-BASED FORECASTS

1nSpirit – The Wine & Spirits Travel Retail Data Hub will help industry leaders to re-assess and refine their business strategy through ‘unparalleled access to robust consumption data, forecast analysis and consumer behaviour insights for the travel retail wine and spirits sector’, say the partners.

1nSpirit m1nd-set and IWSR platform slide

Available from early 2021, and updated twice a year, 1nSpirit will provide in-depth analysis of travel retail wine and spirits sales and pricing data, a brand and innovation tracker, predictive scenario-based forecasts, path-to-purchase analysis, and consumer sentiment data.

 

The new service will enable industry stakeholders to better understand consumer purchasing drivers by category, sub-category and price point. Interviews with international travellers who have purchased travel retail wine and spirits on their previous trip will provide an additional layer of granularity to the data and insights hub.

 

1nSpirit will also deliver a monthly update on footfall data across key international airports. Presented in a single, intuitive and interactive online platform, 1nSpirit – The Wine & Spirits Travel Retail Data Hub will make it easy for industry stakeholders to access all the key insights needed to refine business strategies.

1nSpirit project owners Alastair Mark and Clara

Mark Meek, IWSR CEO, said: “We are delighted to be able to provide industry stakeholders with a comprehensive data and insights hub to enable them to strategically assess the global market landscape.

 

‘NAVIGATING THE ROAD TO RECOVERY’

“Covid-19 has had a drastic impact on the travel sector; global travel retail will see a particularly harsh decline in 2020. IWSR predicts that travel retail consumption volumes will not recover to pre-crisis levels until 2024. However, as regulations on travel ease, we are committed to providing the industry with the data they need to navigate their road to recovery.”

 

IWSR hosted an excellent webinar at the end of May, during which IWSR predicted that it will be five years before the global travel retail industry rebounds from the ongoing Covid-19 crisis. Click here to read more.

 

M1nd-set CEO and Owner, Dr. Peter Mohn, added: “As the wine and spirits category is a major footfall driver for duty free shops, we believe this new data service is a fundamental requirement for the industry.

 

“The combined data analytics from both IWSR and m1nd-set’s respective insights offerings will provide unique and much-needed strategic knowledge for brands and retailers to better anticipate market trends during the post-Covid-19 recovery period and beyond. As the name implies, 1nSpirit will help restore, strengthen and even inspire the industry as we rebuild the business together.”

 

More information about 1nSpirit can be obtained by emailing the following addresses: [email protected] or [email protected].

 

*TRMarketplace data & research partner, m1nd-set, will be responsible for TRMarketplace’s ‘Consumer Insights Hub’ and will provide exclusive research on a wide range of topics for the event’s ‘Knowledge & Insights programme’.

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