Drinking at home outperforms on-premise occasions across all groups
By NACS Online
Although drinks of choice differed among generations, consumers from millennials to seniors continue to indulge in beer, wine and spirit products with regular frequency at home and on premise. This regularity creates an immense opportunity for beverage alcohol manufacturers to engage with shoppers while in the store and find new pockets of growth, according to a new study from IRI.
Today’s consumers drink consistently in restaurants and bars and at home. Between 66% and 76% of consumers reported drinking at home at least once per week, compared with 23% to 26% who reported drinking once per week on premise.
Millennials, Generation Xers and baby boomers make in-store shopping trips more than once per week, and 40% of buyers walk into the store undecided on what product to purchase. Of the 60% who do have a planned beverage purchase, 21% end up changing their mind in store, and 50% of those who changed their mind ultimately buy a different brand than they originally intended.
“There is sizable interest for beer, wine and spirit manufacturers and retailers to work together to win over consumers,” said Robert I. Tomei, president of consumer and shopper marketing for IRI, in a press release. “When you consider how often most shoppers are going to the store, and the fact that 21% of them changed their mind during the actual shopping trip, you realize the impact in-store signage, creative labeling and other marketing could have on your portfolio.”
Consumers across all generations also value quality and taste more than price: More than half of all consumers, regardless of their age, view premium beer, wine and spirits as an affordable luxury. Similarly, between 73% and 80% of all generations make their adult beverage decisions based on taste rather than price.
Beer continues to reign at home overall, with 73% of these younger consumers preferring it to wine or spirits. However, consumers in all generations are looking for lighter alternatives across the entire alcoholic beverage landscape, demonstrating the possibility for existing brands to expand their portfolio and appeal to new demographics.
