<![CDATA[The Quality Journal: đź’ˇInsights]]>https://www.thequalityjournal.com/s/insightshttps://substackcdn.com/image/fetch/$s_!170T!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fefdf080b-4fda-4dc0-9513-7e78faa0ce79_1280x1280.pngThe Quality Journal: đź’ˇInsightshttps://www.thequalityjournal.com/s/insightsSubstackTue, 06 Oct 2026 01:24:37 GMT<![CDATA[The Alcoholic Beverages Industry #1]]>https://www.thequalityjournal.com/p/the-alcoholic-beverages-industryhttps://www.thequalityjournal.com/p/the-alcoholic-beverages-industryTue, 22 Jul 2025 05:30:24 GMT
10 classic cocktails every bartender should know how to make
Link to source

Dear readers,

As part of the current analysis cycle, I’m reviewing the alcohol industry.

In this post, I’ll walk through some of the major trends currently shaping the sector. Two key forces are at play:

  • Structural trend: We’re seeing a clear shift toward moderation—more people are drinking less, choosing abstinence, or following the “drink less but better” mindset. This has led to a steady decline in consumption volumes.

  • External shocks: Ongoing inflation is putting pressure on household budgets, which is also weighing on alcohol consumption.

These forces are impacting the entire industry, but some segments are being hit especially hard. One notable example is the wine industry, which has been in long-term decline for decades.

What’s less clear is how much of the recent volume drop is driven by economic conditions versus the deeper, structural moderation trend.

That said, there are also interesting opportunities emerging. The shift toward moderation is creating space for no/low-alcohol drinks and ready-to-drink (RTD) beverages—both fast-growing categories.

Major companies are actively investing in these new segments to capture growth, which could help soften the blow of declining volumes elsewhere.

Finally, markets like China still offer significant potential. But international players will have to compete with well-established local brands that hold strong cultural relevance.

Index

  1. Main Trends Affecting the Alcohol Industry

  2. Rise of NO/low Alcohol Drinks

  3. Trends in the Wine Industry

  4. Fine Wines

  5. Understanding China

  6. Global Beer Trends

Note: I haven’t published about beer due to the lack of good reports. If some readers have great reports, I will update this post with more information.

Disclaimer. Please read full disclaimer at the end of the page before reading the report. This publication is only for information and entertainment purposes. It doesn’t constitute financial advice.
The information provided in this blog is for informational purposes only and should not be considered as financial, investment, or professional advice. The valuations and analyses presented here are based on publicly available.

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]]><![CDATA[Its all about the long-term]]>https://www.thequalityjournal.com/p/its-all-about-the-long-termhttps://www.thequalityjournal.com/p/its-all-about-the-long-termThu, 10 Oct 2024 05:16:03 GMTI hear many times people are searching for the next Amazon. Let me tell you a secret… you won’t find it! And if you find it… Are you able to remain invested after several downturns above -50%?

Instead of searching for the next Amazon, its more important to understand why the company led by Jeff Bezos has been such a successful business. While reading h…

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]]><![CDATA[Nike Inc]]>https://www.thequalityjournal.com/p/nike-inchttps://www.thequalityjournal.com/p/nike-incWed, 17 Jan 2024 12:00:31 GMTDisclaimer:
The information provided in this blog is for informational purposes only and should not be considered as financial, investment, or professional advice. The valuations and analyses presented here are based on publicly available information and our interpretation of such data.

More than a year ago, Nike Inc. grabbed my attention when its stock f…

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]]><![CDATA[The EV/EBITDA multiple]]>https://www.thequalityjournal.com/p/the-evebitda-multiplehttps://www.thequalityjournal.com/p/the-evebitda-multipleTue, 05 Dec 2023 14:01:30 GMT

The use of EV/EBITDA

Together with the P/E ratio, the EBITDA multiple stands as one of the most commonly used metrics in valuation. Its widespread use is particularly notable in the private equity sector, where a significant portion of calculations concerning potential Internal Rate of Return (IRR) heavily relies on entry and exit multiples.

What makes it…

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]]><![CDATA[Understanding the P/E ratio]]>https://www.thequalityjournal.com/p/understanding-the-pe-ratiohttps://www.thequalityjournal.com/p/understanding-the-pe-ratioSun, 08 Oct 2023 09:56:06 GMT

The value of a company is fundamentally determined by its prospective cash flows, given that stock price and future dividends hinge on these cash flows. Consequently, a Discounted Cash Flow (DCF) model appears to be the most rational tool for valuing companies. Nevertheless, in numerous instances, analysts and investors resort to using multiples rather …

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]]><![CDATA[Will dividend stocks be the right strategy for 2024?]]>https://www.thequalityjournal.com/p/will-dividend-stocks-be-the-righthttps://www.thequalityjournal.com/p/will-dividend-stocks-be-the-rightSun, 17 Sep 2023 15:30:14 GMT

“Resisting the urge to react to short-term developments is an important part of investment success” Howard Marks

Executive Summary

  • Investing for dividends implies to be owner of a company and today’s dividend yield might not be representative of future returns

  • An only-dividend strategy is subject to the same risks as equities (mainly volatility) and same r…

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