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Macroenvironmental Factors for Boutique Rum - Coggle Diagram
Macroenvironmental Factors for Boutique Rum
Environmental
Bagasse can be used for energy production
Bagasse is biodegradable
Rum production produces waste like bagasse
Political
Industry bodies pushing for the government to reduce the frequency of excise tax on spirits
Boutique alcohol producers calling for tax relief
Tax on beer and spirits in Australia rise automatically in line with inflation every February and August
Socio-demographic
Spirits are a growing category of alcohol
An increase in responsible drinking has caused decrease in alcohol consumption
Young people are increasingly drinking spirits
Rum is predicted to follow a similar trajectory to Gin
Consumers are becoming increasingly concerned with transparency and desire sustainability
Premiumisation is supporting spirit industry growth
Technological
Smart sensors can improve packaging processes
Smart packaging labels can increase customer access to information
Legal
Spirit manufacturers may be eligible for an excise tax refund
Proposed reforms are tightening online alcohol delivery
Economic
Weakened household confidence
Economy may rebound in the next year
Weakened economy due to COVID
GDP may increase in following years