News

Consumers abandon alcohol purchases as household budgets shrink - research

Most popular

Why spirits offers hope for the on-premise

The beer category, 12 months from now

Carlsberg, Marston's are winners, who are losers?

Interview - Tesla Nootropics' Group co-founder

Interview - Coca-Cola HBC coffee director

MORE

Lockdown measures around the world have resulted in much less disposable income for consumers, prompting them to cut back on alcohol spending.

Consumers worldwide are dialling down their alcohol purchases as concerns grow about future employment statuses

Consumers worldwide are dialling down their alcohol purchases as concerns grow about future employment statuses

The most recent survey data from GlobalData has found that consumers are more likely to stop buying alcohol altogether because it is beyond their budget than they are to buy premium alcoholic products at the higher end of the price range. GlobalData's COVID-19 tracker consumer survey revealed that while consumers still buy products in the middle or lower price ranges, more consumers have stopped buying these products altogether than are purchasing from the premium price range.

This suggests that on average, the locked-down markets will see a further shift towards value purchases rather than towards premiumisation and indulgence.

This behaviour is a consequence of the substantial financial insecurity that looms over every global economy during and following the response to COVID-19. Consumers are more interested in saving than spending, which is likely to feed into the coming recession, exacerbating economic woes as companies are forced to lay workers off.

Source - GlobalData's Coronavirus (COVID-19) Tracker Consumer Survey, week 7 - global

What will the post-COVID-19 consumer look like? - consumer trends


Expert Analysis

Top Trends in Alcoholic Beverages 2019 - Exploring the latest consumer and innovation trends, and future opportunities

Top Trends in Alcoholic Beverages 2019 - Exploring the latest consumer and innovation trends, and future opportunities

Alcohol as a sector is highly mature, with stable categories, but a vast choice of individual products. This maturity and relative conservatism in category (and related taste) terms makes creative inn...

VIEW REPORT

Related Content

Lifting consumers’ spirits comes with heightened responsibilities for alcohol brands - analysis

Lifting consumers’ spirits comes with heightened responsibilities for alcohol brands - analysis...

COVID-19 prompts consumers to look more locally for their drinks choices - research - FREE TO ACCESS

COVID-19 prompts consumers to look more locally for their drinks choices - research - FREE TO ACCESS...

Why post-COVID spirits consumers will be 'living in the moment' - comment

Why post-COVID spirits consumers will be 'living in the moment' - comment...

Distell makes on-premise plea as South Africa readies lockdown easing

Distell makes on-premise plea as South Africa readies lockdown easing...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?