A new report from Diageo has forecast that the alcoholic drinks category in Britain will see growth of 12% over the next three years, translating into £5.2bn opportunity for the combined on and off-trade.
The Diageo Drinks Report offers insight and guidance to retailers in how to tap into this growth opportunity. It identifies four key ‘growth pillars’ – Balanced Choices, Make the Moment, Exploration, and Celebration – to drive excitement and value into the category.
The drinks giant stated that consumer repertoires are at an all-time high, demonstrating an “increased demand for different drinks to suit different occasions, tastes and lifestyle choices”.
The company highlighted that as consumers become more spontaneous in their choices and look to be inspired, retailers should be mindful of the different reasons consumers buy alcoholic beverages, in order to “tap into current trends and remain relevant”.
Madeline Bedford, senior customer category manager at Diageo, commented: “Consumer drinking habits are changing, with an increased focus on premiumisation and heritage. As consumers grow more confident and their repertoires become broader, it is no longer appropriate to look at drink categories in isolation. To unlock true value, we must identify where and how consumers want to enjoy drinks and ensure there is always a relevant offer for them.”
Diageo also unveiled a new category initiative – Transforming Drinks Experiences – which aims to help retailers and licensees decipher the latest consumer trends through a series of educational initiatives across print and online channels.
“Our Transforming Drinks Experiences initiative identifies ways retailers can take advantage of shifts in consumer behaviour and maximise profits from the total alcoholic drinks category,” added Bedford.
NAM Implications:
- Wot! Not Brexit again?
- Seriously, this Diageo report details the need for more analysis and meeting of consumer need…
- An opportunity for a fresh perspective by all.
