UK: Consumers enjoying week-round drinking - research
Consumers are engaging in more moderate week-round drinking, according to a new report from Datamonitor.
The report from the independent market analyst, released today (16 July) claims that consumers are increasing the number of visits to bars, cafés, restaurants and hotels in the week and moving away from the so-called weekend session drinking.
Despite gloomy global economic conditions and stiff competition from the off-trade sector, consumers are increasing their visits to on-trade establishments. Datamonitor said it forecasts the total number of on-trade occasions in Europe, the US and Australia to grow modestly in the next four years, while volume sales of alcoholic beverages in the on-trade are will also show growth, but at a slower rate.
It seems a switch to more midweek drinking is a key driver behind the increase in on-trade visits, the analyst claims.
"Alcoholic drinking occasions, in line with the moderation trend, are becoming more week-round," said Matthew Taylor, consumer markets analyst, and author of the report. "Midweek occasions in particular are becoming key to value generation in the market due to their increasing numbers and growing diversity."
Aging populations and time-scarcity are also major motivators in this shift, as well as the proliferation of female-friendly environments, which has not only widened the consumer base, but has encouraged more diverse occasions throughout the week.
- Review of the Year 2014 - Part IV: Spirits
- Cuba-US Normalisation: Bacardi, Pernod Winners?
- Review of the Year 2014 - Part V: Wine
- just Five Years Ago - Belvedere Group's Bumpy Ride
- just the Ten - Editor's Viewpoints of 2014
- Belvédère to sell assets, streamline portfolio
- Campari to bag EUR19m with "non-core" assets sale
- Pernod agrees Caribe Cooler sale to Grupo Bepensa
- Pernod wins consent for Glenlivet upgrade
- Thailand pulls back from New Year alcohol ban