US drinkers shift from quantity to quality
By Melita KielyAmerican consumers appear to be changing their drinking habits and opting for more expensive, better quality tipples rather than excessive amounts of cheap booze.
American consumers are ordering fewer drinks, but choosing better quality spirits, according to new researchAccording to research by Guestmetrics, a firm that tracks drinks sales at 6,000 bars and restaurants, US adults are going out less frequently and drinking less alcohol instead opting for more expensive cocktails, beer and wine.
“When consumers do go out, they’re trading up to more expensive drinks,” Peter Reidhead of the research firm GuestMetrics, told Bloomberg.
Furthermore, consumers are also more inclined to spend more money for speciality of high-quality liquor options, paying 5% to 7% more compared to two-years-ago, according to Nielsen.
Danelle, Kosmal, vice president of Nielsen’s Beverage Alcohol Practice said the increase in costs is not a reflection of stores putting their prices up, but “it’s more a reflection of consumers trading up”.
More bars are hiring mixologists to create US$20 cocktails, and with the boom of “craft” distilleries, consumers are seeking more locally made spirits.
While GuestMetric explained “luxury” spirit drinks – those costing more than US$12 – are still rare, comprising just 3% of the volume of spirits sold at bars and restaurants, this is now 15% more than in 2013.
Kosmal also added that consumers are not just paying more for drinks because they want to “show off”, and said: “It’s more about variety, flavours and opportunities to try something new.”