What's Happening?
Suntory Global Spirits is undergoing a brand-first transformation under the leadership of John Alvarado, U.S. chief brand officer. The company is shifting focus from traditional marketing to brand-building, aiming to enhance consumer engagement and loyalty. This strategy includes modernizing its approach to appeal to Gen Z preferences, such as bold flavors and digital upskilling. Suntory is also emphasizing cultural collaborations and full-funnel marketing to maintain its iconic status while adapting to contemporary consumer demands.
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Why It's Important?
Suntory's transformation reflects a broader trend in the spirits industry where brand equity is prioritized over discounting, especially during economic uncertainty. By focusing on brand-building, Suntory aims to foster long-term consumer loyalty and love, which is crucial for sustaining growth. The emphasis on digital upskilling and cultural collaborations positions Suntory to effectively engage with younger demographics, ensuring relevance in a rapidly changing market. This approach may serve as a model for other companies seeking to balance heritage with modern marketing practices.
