Alcoholic Beverages – Consumer Spend Analysis
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Alcoholic Beverages Consumer Spend Analysis Report Overview
Uncertain economic situations and inflationary price spikes pressurized global consumers to cut spending on non-necessities such as alcoholic drinks. Approximately 30% of global buyers now describe their spending on alcoholic beverages as “low”. The “Consumer Spend Analysis – Alcoholic Beverages” explores the evolution of consumers’ spending habits on alcoholic beverages between 2022 and 2024. The report examines the trends in consumer shopping behavior and how inflationary concerns impact overall spending for alcoholic beverages, such as beer, cider, spirits, and wine.
Key Categories | · Beer
· Cider · Spirits · Wines |
Key Channels | · Supermarket
· Convenience Store · Online-Retailer · Online-Direct from Brand · Brand’s Own Store |
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Alcoholic Beverages Consumer Spend – Consumer Concerns
Geopolitical, macroeconomic, and social dynamics dictate consumers’ attitudes towards their financial situation. In the US, India, and Germany, concern for consumers’ financial situation has significantly grown respectively. Inflationary pressures have exacerbated worries about reduced purchasing power and the affordability of essential goods and services. Meanwhile, global economic dynamics, including geopolitical tensions such as the Russian-Ukraine war, have further contributed to financial security apprehension. Conversely, extreme concern about personal financial situations has declined in many countries.
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Alcoholic Beverages Consumer Spend Segmentation by Category
The key categories of alcoholic beverages witnessing some of the highest consumer spending in 2024 are beer, cider, spirits, and wines. In 2024, spirits account for the highest value and are set to experience the highest CAGR, followed by wines. A continuous rise in value can indicate the premiumization of products, which might be particularly applicable to the wines and spirits categories, already associated with high-quality and premium options.
Alcoholic Beverages Consumer Spend Analysis by Category, 2024 (%)
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Alcoholic Beverages Consumer Spend Segmentation by Channels
The most popular channels witnessing the highest consumer spending on alcoholic beverages include supermarkets, convenience stores, online retailers, online direct brands, and the brand’s store. In 2024, supermarkets is the most popular option among the global audience. Low, medium, and high-income earners from households including one, two, or three or more members all chose this channel as the place where they usually purchase alcoholic drinks. The following most popular options were convenience stores and online retailers.
Alcoholic Beverages Consumer Spend Analysis by Channels, 2024 (%)
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Key Highlights
- Medium-income consumers reported the biggest change in responses regarding high spending on alcoholic drinks, indicating they cut back the most on these products.
- Supermarkets are a clear leader among channels offering alcoholic drinks. It was the most popular option to purchase alcohol from for low, medium, and high-income earners and for consumers from single, two-person, and three or more-person households.
- A relatively high share of Generation Z does not purchase alcohol-almost one-third of respondents. It suggests their relationship with alcoholic drinks is changing, which can shape their future spending habits and product preferences.
Reasons to Buy
- Understand how consumer spending on alcoholic drinks is changing and why modern buyers have tightened their budgets for alcohol as the cost-of-living crisis decreased their spending confidence.
- Identify the future implications of lower consumer spend on alcoholic drinks.
- Learn about consumer spending on alcoholic drinks depending on location and household size, and what it means for the market players.
Table of Contents
Frequently asked questions
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What are the key consumer concerns while spending on purchasing alcoholic beverages?
Inflationary pressures have exacerbated worries about reduced purchasing power and the affordability of essential goods and services.
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Which is the leading category with the highest consumer spending in the alcoholic beverages industry?
In 2024, spirits account for the highest value and are set to experience the highest CAGR, followed by wines.
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Which is the most popular channel consumers spend on for purchasing alcoholic beverages?
In 2024, supermarkets is the most popular option among the global audience.
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