帝亚吉欧有信心伏特加在中美还有戏

Despite recent sales weakness from Diageo’s U.S. vodka portfolio, the company is convinced consumers will keep saying: “I’ll have another.”

虽然最近帝亚吉欧的伏特加系列产品在美国的销售情况并不理想，但公司仍然相信，消费者对该品牌的热情未减，而且他们会继续说：“再来一杯”。

The alcoholic-beverage giant has reported full-year sales and profit were stung by weak vodka sales in the U.S. and a broader drop in demand in China, though the alcoholic-beverages giant isn’t dissuaded and sees progress ahead.

帝亚吉欧发布的全年销售业绩显示，伏特加在美国市场的销售低迷，中国市场的需求也普遍下滑，两大因素导致其利润受挫，但该公司并未因此打退堂鼓，而是认为好戏还在后头。

Overall, the maker of Johnnie Walker Scotch, Ketel One vodka and Don Julio tequila reported net sales slid 9% to 10.3 billion British pounds ($17.3 billion) for the year ended June 30.

总体而言，作为尊尼获加威士忌、坎特1号伏特加和唐胡里奥龙舌兰的生产商，帝亚吉欧在报告中提到，其截至6月30日的年净销售额下滑9％至103亿英镑（约合173亿美元）。

In North America, reported net sales dropped 7% due to weakness from the company’s vodka brands: Smirnoff and Ciroc reported sales declines while Ketel One demand was unchanged from the prior year.

在北美市场，报告中净销售额约7％的下滑源于伏特加品牌销售的不景气：该报告显示，皇冠伏特加和诗珞珂伏特加销售额下滑，而坎特1号伏特加的需求与去年持平。

Vodka is by far the most popular spirit sold in the U.S., generating $5.6 billion in revenue for distillers last year and accounting for 32% of the industry’s total volume, according to the Distilled Spirits Council of the U.S. But volume growth has slowed the past few years, as more consumers turn to tequila, bourbon and Tennessee whiskey. Diageo’s results highlighted that divide North America. Don Julio’s sales leapt 22% while Bulleit bourbon posted a 63% jump in sales.

到目前为止，伏特加是美国市场最畅销的酒精饮料，美国蒸馏酒委员会（Distilled Spirits Council of the U.S.）的数据显示，去年伏特加为酿酒厂带来了56亿美元的营业收入，销量占行业总量的32％。然而在过去几年中，伏特加的销量增长放缓，因为更多消费者转向了龙舌兰、波旁和田纳西州威士忌。帝亚吉欧的业绩凸显了北美地区的这种销售差异。唐胡里奥的销售额上涨22％，而子弹波旁威士忌的销售飙升了63％。

“We don’t see a trend where vodka is going to no longer resonate with the consumer,” Diageo Chief Financial Officer Deirdre Mahlan told Fortune. “The vodka category grew 4% this year in the U.S. Our brands didn’t perform as well.”

帝亚吉欧公司财务总监 Deirdre Mahlan向《财富》杂志透露：“没有迹象表明，消费者已对伏特加失去了兴趣。今年伏特加品类在美国的销量增长了4%。我们的品牌表现得并不是很好。”

Mahlan said while it is “absolutely true that whiskeys are in vogue,” Diageo was pressured by heightened competition and some promotional pricing in the category. More than 200 new vodkas have hit U.S. shelves the past two years, and some of the lower priced brands are using promotions to drive scale. As a result, Diageo says Smirnoff in particular lost some market share as the company wanted to maintain pricing power against its rivals.

Mahlan表示，虽然“现在确实流行喝威士忌”，但激烈的竞争以及该品类的某些促销定价也为帝亚吉欧带来了压力。在过去的两年中，超过200种新伏特加酒在美国上架，而一些低价品牌正利用促销活动来走量。因此，帝亚吉欧指出，其中较为突出的是皇冠伏特加，该品牌失去了部分市场份额，因为公司想保持其定价能力，并以此打击其对手。

Diageo says a better way to read its U.S. performance is to look at how well the higher priced beverages sold compared to more affordable options. Bulleit, Don Julio and the higher priced Johnnie Walker Scotches sold well, while Smirnoff and Captain Morgan rum were pressured as some consumers traded down to lower priced spirits.

帝亚吉欧表示，比较高价酒与低价酒的销售情况有助于更好地解读美国业绩。子弹波旁威士忌、唐胡里奥和价格较高的尊尼获加威士忌都很畅销，而皇冠伏特加和摩根船长朗姆酒的销售则面临压力，因为部分消费者转而购买价位更低的酒。

Mahlan and other consumer-product companies have in recent weeks called out pressure middle- and low-income Americans have felt as a result of payroll tax changes and an economic recovery that has left those on the lower economic rungs feeling left out.

最近几周，Mahlan和其他消费品公司大声疾呼，美国中低收入阶层感到生活充满压力，原因在于工资税的变化和经济复苏让那些处于经济阶梯下层的人感觉自己处于被遗忘的边缘。

“I’m optimistic,” Mahlan said. “While you might trade down to a less expensive brand temporarily, when you can go back to a more aspirational brand, you tend to go back up.”

Mahlan表示：“我很乐观，虽然消费者暂时倾向于购买价格较低的酒类品牌，但当他们有能力购买更有品位的品牌时，他们就会回归价位较高的品牌。”

The Greater China region was another area of concern, where sales slumped 33% in the latest fiscal year. Those problems didn’t drastically weigh down Diageo’s overall results, as China generates about 1% of the company’s global sales.

大中华地区是另一个令人担忧的地区，上个财年该区域的销售业绩下滑了33％。这并没有对帝亚吉欧的整体业绩构成巨大拖累，因为中国在全球销售中的占比仅为1％左右。

Still, worries of weakness in China always generates headlines. Western-style spirits companies are facing challenges there as they aim to bolster low consumption and limited knowledge about their products. A bulk of China’s alcohol consumption is of baijiu, China’s native alcohol, and so it’ll take time to change their habits.

尽管如此，对中国的疲软销售状况的担忧总能成为人们关注的话题。西式酒精饮料公司一心希望提高其在中国较低的销量和有限的知名度，但他们在这一过程中将面临挑战。中国人消费的酒精饮料主要是本土制造的白酒，所以改变中国人的习惯还需要时间。

“As the Chinese consumer becomes more familiar with Western-style spirits, we think there is huge potential for the business,” Mahlan said.

Mahlan表示：“随着中国消费者对西式烈酒认知度的提高，我们认为中国存在巨大的商业潜力”。

To court those preferences, Diageo later this year is launching a single-grain Scotch called Haig Club, which has a lighter flavor and could be more suitable for the Chinese market. Because many Chinese consumers prefer to drink alcohol with their meals, Diageo is hopeful Haig will be a more suitable pairing.

为了迎合这些偏好，今年晚些时候帝亚吉欧将推出单一谷物苏格兰威士忌，名为黑格俱乐部威士忌，口味较清淡，更适合中国市场。因为很多中国消费者喜欢在就餐时喝酒，帝亚吉欧希望黑格能成为更合适的佐餐伴侣。

“It is such early days for [our categories] in China,” Mahlan said. “It is an investment market for us.”

Mahlan说道：“在中国，[我们的产品]处于非常初期的发展阶段，中国对我们而言是一个投资市场。”