Not much about the alcoholic beverage market remains untapped in a post-pandemic marketplace; where, how, what and why people consume all have new answers.
Marketers are scrambling to get a handle on which changes are here to stay and determining how to pivot their strategies in response. In our brand new eBook, What Are You Drinking? How Consumers’ Changing Answer Is Challenging Bev Al Marketers to Pivot we address five new viable strategies and offer guidance to help you take the best steps forward.
Here’s a sneak peek of what’s inside:
Trend #1 — Kitchen Stools Topple Bar Stools
In-home entertaining was seeing a rise in popularity over venue-based drinking and dining based on money and effort, especially among the GenZ youngsters, and then….COVID. Stack on restaurant closures, capacity restrictions and health concerns and you might as well settle into your seat because this is a trend that’s here to stay.
What does this mean for marketers?
According to IWSR Drinks Market Analysis, “Plans will need to be adapted to take into account a smaller on-trade sector, which is especially important for product activation strategies….Brand owners will need to re-evaluate their balance of investments between bricks & mortar and on-premise channel splits.” Additional investment may be needed in high-growth online channels as well.
Decision Point: Are you prepared to build a business case for additional marketing spend to drive off-premise consumption at a level that can offset higher-profitability, on-premise contraction?
New opportunities for seasonal sales spikes will emerge. “…Consumer circumstances have created an array of new occasions, touch points and demand spaces for alcohol companies to leverage. The influx of at-home eating, cooking and snacking creates opportunities for promotions tied to meal pairing, home tending, recipe integration and happy hour snacking,” Advantage Solutions reports in “5 Trends Driving Global Alcohol Beverage In 2021 & Beyond”.
Decision Point: How do you identify current seasonal cycles and optimize both your in-season and off-season periods to get the full bang on your marketing dollars without overspending?
Download the complete eBook here.