For Attwood Import Export CEO Tan Ser Chhay, the alcoholic beverage sector is one marked by stability—even as it continues to evolve. “The new generation’s drinking behavior focuses on experiences, not just volume,” he says. “They seek a full journey and are open to trying new brands.” Here, he discusses the industry’s resilience and its role as an economic bellwether. 

Q: How did Attwood establish itself in the market? 
My mom started the company in 1994. She moved to Phnom Penh and started selling electronics but soon noticed how fast the market moved. If you did not sell quickly, you would miss the trend. She asked herself what product had no shelf life, and the answer was liquor. People drink when they are happy and when they are sad. 
It is just about tiers: when consumers have money, they buy premium; when they do not, they buy lower-end. Not many give the alcohol sector credit, but it is actually a strong economic indicator. When the economy is doing well, people buy premium brands. When it dips, they scale down. It is often the first sign. 

Q: What is the current status, in terms of brand consumption? 
The ultra-premium range still sells out immediately upon release; people at that level continue to spend. But the premium range is not moving like before. The lower range, like Black, Red and some Gold are selling well. 
In short, high spenders are still buying as long as they know the product. But the upper middle class is pulling back, opting for lower tiers instead of premium. Consumer spending habits are clearly shifting. 

Q: What factors drive Attwood’s competitive advantage? 
Our competitive advantage is our team. Many have been with us for 10, 15, even 20 years. They know the market, the routes and the clients. We have approximately 130 staff nationwide, with most volume coming from Phnom Penh, Siem Reap, Poipet and Sihanoukville.