Alcohol brands debut attractive low-alcohol options
Trend - Brands in the alcohol industry are debuting lower-alcohol drinks that offer the same drinking experience with less of a focus on achieving an altered state, and more on appreciating the flavor and quality of the offered products.
Insight - Millennials in particular are consuming less alcohol than the generations that preceded them, for many reasons. This generation is more likely to value the social rituals associated with alcohol consumption more than the act of drinking itself, and they're more focused on professional and personal health goals. Thus, this demographic is more likely to be drawn to alcohol brands that focus on rituals like socialization and wellness.
Insight - Millennials in particular are consuming less alcohol than the generations that preceded them, for many reasons. This generation is more likely to value the social rituals associated with alcohol consumption more than the act of drinking itself, and they're more focused on professional and personal health goals. Thus, this demographic is more likely to be drawn to alcohol brands that focus on rituals like socialization and wellness.
Workshop Question - What is a common hesitation consumers have when it comes to engaging with your product or service? What's a viable compromise for this issue?
Trend Themes
1. Low-alcohol Alternatives - As consumers seek out healthier, more mindful lifestyles, brands in the alcohol industry are creating innovative, low-alcohol alternatives to traditional libations.
2. Increased Transparency - As consumers become more health-conscious, brands are using tools like nutrition labeling to create more transparency around their products.
3. Moderation Movements - As the younger generation begins to prioritize wellness over heavy drinking, brands are launching 'moderation movements' to support those seeking more balanced lifestyles.
Industry Implications
1. Alcohol Industry - As the alcohol industry continues to grapple with changing consumer preferences, there is a massive opportunity for brands to create low-alcohol options that prioritize social rituals and healthy alternatives to traditional booze.
2. Hospitality Industry - As people focus more on health and wellness, the hospitality industry has an opportunity to pivot away from traditional, boozy nightlife and embrace more health-conscious offerings, such as low-alcohol beverages and wellness-focused social experiences.
3. Health & Wellness Industry - As low-alcohol alternatives gain in popularity, it expands the opportunity for the health and wellness industry to collaborate and co-brand their products with alcohol brands, potentially providing new revenue streams for both industries.
