There have been significant shifts in drinking trends and habits across the global alcohol markets. The pandemic led to an increase in at-home consumption, during which time people began experimenting with new kinds of alcohol and ‘cocktailing’ became both a verb and a hashtag.
As we enter 2023 with loosened on-premise and travel restrictions, consumers are showing an eagerness to get back out to bars, nightclubs, breweries and distilleries. But that doesn’t mean that we can expect to see a total return to pre-pandemic lifestyles. Rising inflationary pressures in Europe and the US are having consumers think carefully about their choices, prioritizing higher quality beverages and opting for more moderate consumption overall.
In order to help our brand and agency partners navigate the year ahead, we’ve put together a primer on some key trends to watch out for in the alcoholic beverage markets and offer up some strategies to contend with today’s changing consumer profile.