5 Must Reads to Help you Win in the Drinks Category

Amy Bond, Assistant Librarian and Information Specialist, Bord Bia

The past years have been extremely volatile for the drinks sector, with the shutdown of the on-trade sector during the pandemic, the staggered reopening of the sector, changing consumption habits post Covid-19, and now the impact of the cost of living crisis. This makes it all the more important to take time to understand the dynamics of the category. Below we have identified some key reports from our library collection that can help you understand consumer attitudes, the growth of low-alcohol, and the state of ecommerce, among other trends.

 

Attitudes towards Craft Drinks - Ireland, Mintel (November 2022)

This report explores Irish consumers’ attitudes towards craft drinks. The craft alcoholic drink market in Ireland is experiencing significant growth and opportunity for sustainable production but faces a large barrier in the form of the cost-of-living crisis, which could impact sales as consumers are being more cautious about what they spend their money on. Also, consumers are drinking alcohol less often, but by positioning their products as premium and of high quality, there is a space for craft brands to sell during times of affordable indulgence.

 

Voice of the Industry: Alcoholic Drinks 2022, Euromonitor (January 2023)

Euromonitor’s Voice of the Industry series surveys professionals on trends and innovations across a number of industries. This report highlights the results of Euromonitor International’s Voice of the Industry: Alcoholic Drinks Survey 2022, alongside commentary and context from Euromonitor International experts. It examines key trends of the past year, and discusses key trends expected to shape the industry in the coming five years. The impact of inflation and the industry’s response is also covered.

 

Why are French people embracing low-alcohol options?, Canvas8 (August, 2022)

This article looks at what is driving the growth of low-alcohol options in the French market. France’s growing alcohol moderation mirrors a wider global trend. The no and low category gained share, now representing 3% of the total beverage alcohol market across France and nine other countries (Canvas8, 2022). While France remains enamoured with wine, beer, and spirits, its consumers are increasingly reducing their alcohol intake in a bid to keep their health in check. What are the factors affecting this changing attitude towards booze? And how can brands capitalise on this shift?

 

Ecommerce Strategic Study – Executive Summary, IWSR (November, 2022)

Having surged over the past few years, ecommerce alcohol sales are forecast to flatten in 2022 as pre-pandemic buying habits re-establish themselves to some extent. Growth is then set to resume but at a lower rate than previously expected due to a weaker macroeconomic outlook. The more value-focused orientation of omnichannel retailers mean these are expected to benefit most from the deteriorating economic outlook.

 

Success Case Study: Bacardi Twistails, GlobalData (August, 2022)

This case study examines what factors drove the success of Bacardi’s Twistails launch. In 2020, alcoholic beverage giant Bacardi formulated a selection of three cocktail pods that are delivered to the consumer's home. These aim to remove the hassle of creating cocktails from scratch. The only ingredients consumers need to add to make the cocktails are water and ice. Originally launched in response to the pandemic, in late 2021, Bacardi introduced Twistails to global travel retailers.

 

Bord Bia clients who want to access these reports can contact thethinkinghouse@bordbia.ie.

 

References

 

Canvas8. (2022). Why are French people embracing low-alcohol options?

Euromonitor. (2023). Voice of the Industry: Alcoholic Drinks 2022.

GlobalData. (2022). Success Case Study: Bacardi Twistails.

IWSR. (2022). Ecommerce Strategic Study – Executive Summary.

Mintel. (2022). Attitudes towards Craft Drinks - Ireland.