A combination of relatively high levels of disposable income dedicated to socialising and the frequency at which they do so, the 18-34 age group is the obvious target for operators and suppliers to take advantage of the Premiumisation trend.
In the UK there is a 11.9% rise in the category of drinks classed as “super-premiums”. This is the next step up from premium, so those who were already on that tier are going next level fancy. Most common in the spirits industry where volumes of standard varieties fell by 1.9% to the year June 2017, premium spirits rose by 2.9% and super-premiums soared by 11.9%! The evolution has encouraged value brands to compete with the more boutique options on the shelves.
This shift in demand for higher quality beverages is evident across the board. Not only are spirits showing growth, but so are ready-to-drink (RTD), beer and soft drink segments, with the Bacardi 2020 Cocktail Trends Report noting a 26% increase in vodka soda and flavoured RTDs in the US.
Consumers are becoming more sophisticated drinkers, looking for authenticity and wanting more for their money. They appear to be searching for more luxury experiences both in the home and out.
Hard seltzers have shown exponential growth in the US, and it seems the UK is following suit. Anheuser-Busch expanded its portfolio with the introduction of a hard seltzer brand, Social Club Seltzer, aimed at more sophisticated drinkers, while Carlton & United Breweries recently launched their first ever hard seltzer brand, Actual, in Australia. Premium mixers are another category on the rise, where consumers are willing to pay a price reflective of high-quality beverage ingredients; often botanical or herbal flavourings.
It seems that consumers are drinking fewer, but more superior, premium beverages, adopting a ‘less is more’ attitude. Clearly, consumer values are being redefined with a focus on quality, longevity and sustainability.
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