CHICAGO -- Mintel research finds that more consumers are drinking at home, instead of going to bars or restaurants.
Ninety percent of alcohol drinkers consume alcoholic beverages at home, compared to 77 percent who drink outside the home. Moreover, those surveyed consume almost twice the amount of drinks at home in an average month than they do in restaurants or bars.
The nearly $80 billion off-premise alcoholic beverage market has grown 21 percent since 2004, as more consumers cut back on eating out due to trying economic times.
Drinkers are also cutting back in terms of the alcohol they’re purchasing for at-home consumption. Twenty-eight percent of respondents who drink alcoholic beverages at home have traded down to less expensive brands than last year to save money.
“In a price-sensitive environment, consumers may shy away from discretionary expenses, like alcohol, to save a few bucks,” says Garima Goel-Lal, senior analyst at Mintel. “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.”
Beer still holds the largest share of market sales at 48 percent, but wine is the most popular alcoholic beverage consumed off-premise.
“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,” adds Garima Goel-Lal. “Recently we’ve seen an array of packaging innovations, unpretentious labels and food-wine pairings to attract lucrative demographics previously unheeded by wine manufacturers.”
For more information, visit http://www.mintel.com