The beer, wine, and spirits industry is another industry affected by the economic downturn. While we’ve explored CPG and retail in-depth, the beverage alcohol industry is a compelling study of how consumers are changing purchasing habits and where they seek out product information. Our new report, “Understanding the Beer, Wine and Spirits Shopper in Today’s Economy,” examines the upward trend of beer, wine and spirits in the past year as a result of the changing economy.
One of the greatest shifts in the beer, wine, and spirits industry is the change in where Americans are consuming alcohol. Home entertainment is in the rise, and consumers are buying drinks and food to have on hand for impromptu, at-home gatherings, visiting on-premise venues less than they were one year ago. Pantries are stocked with snacks like chips and salsa, while home bars are filled with the necessary beer, wine, and spirits for entertaining. This mirrors the at-home meal preparation trend we’ve been documenting during the downturn and comes as no major surprise as consumers continue to scale back.
Consumers are taking price comparison into the digital sphere, especially when it comes to beer wine and spirits. Sites like MyGroceryDeals.com and Wine.Woot.com help shoppers find deals on their alcoholic purchases, obtain coupons and build shopping lists all from the comfort of their own home. Our research shows that consumers, particularly the younger demographic, is comfortable and open to finding coupons online. We expect that Web sites such as these will grow in popularity as the trend of consumers turning to the internet for bargain hunting continues to rise.
Twitter, Facebook, and YouTube are three major drivers in how shoppers are finding deals on their beer, wine and spirits purchases. Word of mouth travels quickly through these mediums, and helps shoppers find deals before making it to the grocery or liquor store. Sites like CheapTweet.com searches Twitter for deals across retail and CPG categories, and brands like Guinness, Budweiser, and Smirnoff actively participate in the Twitter community. Facebook is another major player in how consumers get product information, and its real-time content sharing helps spread information to consumers quickly and efficiently. Lastly, YouTube is one of the most influential ways consumers get product information online. Beer, wine and spirits brands use the site to communicate to their shopper through Webisodes and hosted consumer-driven contests. These three social and digital media platforms are transforming the spread of product information, and are working to the advantage of the growing beer, wine and spririts industry.
This positive change in beer, wine and spirits offers great potential for CPG and retail. By offering coupons and creating an online social presence, there is an opportunity to connect with the wired consumer in a new way. These actions not only speak to the consumer desire to save money and educate themselves, but also set up the chance to create an online marketing program that has longevity and relevance.
Stay tuned for the full report, and we welcome your comments and questions.
Take care,
Anne Carlson
