Drinks Data And Trends During The Pandemic

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As 2020, thankfully, finally comes to a close the hospitality industry continues to struggle. Few know if it will ever resemble what it once was. Analysts around the country are trying to assess and predict what the drinks market will do in the next few years.

So, I turned to a reliable new data source in the business to get some baseline drinks trends data. SipSource tracks aggregated wine and spirits distributor data and is part of the Washington D.C.-based Wine & Spirits Wholesalers of America and works in collaboration with Nielsen, VIP and ATKearny, a global management consulting firm. These questions were answered by SipSource analyst Dale Stratton. All answers have been edited for length and clarity.

Liza B. Zimmerman (L.B.Z.): Is off-premise consumption making up for the decrease in on-premise consumption?

Dale Stratton (D.S.): In total yes, off-premise gains are making up for the losses in the on-premise, as evidenced by the increased growth rates in depletions from -3.1 percent at the end of February to +0.1 percent at the end of September for wine and +2.6 percent in February to +5.3 percent in September for spirits.

L.B.Z.: Why do you think spirits continue to lead the pack?

D.S.: Spirits continue to hit the mark with consumers on many points such as taste, fresh ingredients and visual impact. I worry if with people moving their cocktail experience into the home, the value equation will become even more pronounced. If I buy a bottle of spirits for $30 and it lasts me a month, why would I spend $20 on a bottle of wine when it only lasts me one night?

L.B.Z.: Are people making complicated cocktails at home or just simple ones?

D.S.: That is difficult to say from a data standpoint, but I think many people are making fairly complex cocktails at home. Those that are not are choosing to go with premixed cocktails which are growing +45.8 percent.

By Liza Zimmerman
Source: Forbes.com
November 27, 2020