Episode
Magic Markets #278: Aylett & Co. on Alcohol Stocks
- Podcast
- Magic Markets
- Published
- Jun 17, 2026
- Duration seconds
- 1567
- Processing state
not_requested- Canonical source
- https://magic-markets.castos.com/episodes/ep-278-draft
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Summary
Aylett & Co. returns to Magic Markets for a deep dive into one of the more debated sectors in global markets: alcohol. Justin Ritchie and Ryann Dean unpack the big question facing investors: is the recent weakness in alcohol stocks structural, or simply cyclical? From the COVID-era demand surge and subsequent hangover to shifting consumption patterns, affordability pressures and inventory cycles, this episode cuts through the noise with a data-driven lens (and a healthy dose of scepticism about popular narratives aroung GLP-1 impacts and Gen Z drinking habits). Premiumisation, no-alcohol products and the contrasting dynamics between beer and spirits - it's all in here, including a look at developed vs. emerging markets. Key Topics Covered Structural vs cyclical debate in alcohol stocks COVID demand pull-forward and the post-pandemic unwind GLP-1 drugs and their real (and overstated) impact on consumption Generational drinking trends and long-term volume declines Affordability pressures and changing consumer behaviour Premiumisation: drinking less, but better Inventory cycles in spirits vs beer Regional dynamics: emerging markets vs developed markets Growth in no-alcohol beer and ready-to-drink cocktails Strategies companies are using to reignite demand Beer vs spirits: defensiveness and cyclicality Valuation compression and investment opportunities Comparison with tobacco and other “vice” sectors Find out more about Aylett & Co. here: Aylett.co.za Justin Ritchie on LinkedIn Ryann Dean on LinkedIn Get in touch: The Magic Markets Website @MagicMarketsPod, @FinanceGhost, and @MohammedNalla (all on X) Pop us a note on LinkedIn Disclaimer: This podcast is for informational purposes only and does not constitute financial or investment advice. Please speak to your personal fi…