At-Home Consumption Lifts Alcohol Sales
CHICAGO—New data from market researcher Mintel reveals 90 percent of consumers who drink alcohol are choosing to do so from the comfort of their own homes and drinking nearly twice as much, compared to the 77 percent of those who hoist their glasses at restaurants and bars.
According to the findings, the $80 billion off-premise alcoholic beverage market has grown 21 percent since 2004 because consumers have cut back on dining out during the recession. What’s more, 28 percent of those surveyed claim to purchase less-expensive brands of alcohol to drink at home as a way to save dollars. About half of those who report drinking alcohol at home are drinking less than they did a year ago, but the market is still enjoying viability.
In terms of popularity, beer maintains the lion’s share of total market sales; however, wine is the most popular alcoholic beverage consumed off-premise. More than half of respondents who drink alcohol at home are influenced by promotional or discounted prices of alcoholic beverages.
“The wine market has seen a magnitude of innovations, due largely in part to winemakers’ need to break free from stereotypes that may have been alienating younger users,” said Garima Goel-Lal, senior analyst at Mintel. “Recently we’ve seen an array of packaging innovations, unpretentious labels and food-wine pairings to attract lucrative demographics previously unheeded by wine manufacturers.”